Commercial real estate development is an enterprise that comes with both great risk and great reward. Which way the pendulum swings can be different on any given day and with the property owners level of expertise. If you are not an expert in commercial real estate development, but are just getting started, chances are you have some things to learn – a lot of things, actually.
The list starts with things like budgeting – you need to have enough funds to cover the whole project end to end. Even if you get a development loan, you then have to sit down and create a budget to determine exactly what to spend on each factor of the project so you don’t run out of that money. Then you need to choose an architect – and don’t even think you are going to do this yourself unless you graduated with an architectural degree. The regulations are too stringent anymore to wing it off the cuff. You have specific requirements in building that won’t give and won’t budge, so find an architect you can afford and work with.
Then you need to select the general contractors who will be doing the work and any sub contractors that are needed as well. Since there are a lot of different things that happen on a development project – building workers, electricians, finishing guys, etc. – there are going to be specialty contractors you will need to pool from and work with on a daily basis. Then there are the inspections as the work is completed – or that you think is completed until the inspector doesn’t sign off.
As you can see, the development of commercial real estate is no little thing. In fact, it can seem like the bite of steak you chew on for an hour that just doesn’t go away. It grows and grows instead of getting smaller. When you are feeling this way, which qualifies as overwhelmed, you had best call in some experts to help you clear the decks. You need someone who can wrangle architects, contractors, inspectors and all the rest of the to-do list with efficiency. You need Retail Solutions Advisors.
Rated as one of the top commercial real estate companies in the whole Southeastern U.S., Retail Solutions Advisors has a commercial real estate development team of experts who can make your worries go away. They have the skills and experience to handle just about any commercial real estate development project you have going. From planning through execution, these individuals have over a century’s worth of combined experience and knowledge that they put to work for you.
Stop feeling like your back is against the wall and you won’t be successful with your development project. It is possible when you have a partner who excels in what you’re doing. Retail Solutions Advisors will do what you need done when you need it done and the investment for you will be so worth it – especially over time. Don’t hesitate – give them a call today.