The First Step to Becoming a Property Developer
Keywords: Property Developer, Carly Crutchfield, CCorp
by Carly Crutchfield Property Developer and director of CCorp

One of the most frequent questions that I get asked is “How do I start…how do I become a property developer?”

So I thought I would dispel some of the myths and tell you EXACTLY how to start.

First of all, you need to understand that property development is possibly one of the most misunderstood investment strategies out there. There seems to be a general consensus that property development is something that only the “big boys” or “serious players” can get involved in or that you need millions of dollars before you can ever start.

That just is not true. In fact the first development I ever did, I used absolutely none of my own money. I thought outside the box, got creative and entrepreneurial and used my knowledge of negotiating to structure a great deal.

That is the fantastic and consistent thing about property development, there are no rules and the sky is the limit. You are only limited by your knowledge of what is possible, your ability to think creatively and structure smart opportunities that benefit all involved.

I have also heard of people going to University for 4 – 8 years to study property development. In most cases this seems to qualify people to work for someone else in property development, but still not become a property developer!

However, education is one of the most important ingredients to get started in property development. You need to understand how property development works, what it is, how they are structured financially, how the profits and cash-flow work and how the legal aspects are structured.

These are all quite straightforward and easy to understand, but without this knowledge property development can seem like an unreachable goal or an unplayable game.

In fact property development is a game that can be played by anyone willing to learn how it works and get involved. And if you do get involved, you will soon discover that property development can help fast track your personal wealth and personal property portfolio faster than you ever thought possible.

The power of property development lies in the fact that you become an ACTIVE property investor rather than a PASSIVE property investor. There is nothing wrong with being a passive investor, but you are effect to the market. As an active investor you are taking control and becoming cause over the market, your own profits and future.

So, what is the first step to becoming a property developer? Answer: Education. You need to learn the basics of how it works. Once you have the basic education you need to start looking for deals that you can get involved in that have a profit margin of at least 20%, however you really want to push the profit margins to 30 or 40% to make a deal really worthwhile.

And once you find a deal it is all about how you structure it. Development is not about construction; it is about finding the deal and putting it together. It’s about using as little of your own money to generate the biggest return on investment as a whole.

Some strategies and tools that developers use to do this include vendor finance, joint ventures, property options, and more.

By using these strategies you can get involved in property using none of your own money, you can own a house debt free in just 12 months, you can create a cash flow for yourself and much more.

Sound like something you would like to do? Then take the first step, get educated.

See Carly LIVE at the Power of Choice Events with Tony Melvin