Commercial Real Estate Development normally refers to the ground-up construction of commercial investment properties that are leased from a third party. These buildings usually include the following: office buildings, retail centers, industrial property for development, and any other commercially oriented properties. This may also sometimes include multifamily developments such as apartment buildings, and condo projects. In this post we’ll cover what it takes to become a commercial real estate developer.
How to Become a Commercial Real Estate Developer
Get Your License
The first step in becoming a commercial real estate developer is to the state mandated test to receive your license. In order to be a commercial real estate developer in Texas, you must have a license that allows your practice within that jurisdiction. When getting licensed be sure to understand which license you want to receive. Many states have different licenses depending on your goals. For example, there is a difference becoming an agent/salesperson than becoming a broker. Whereas a broker can open their own shop without having any type of supervisor over them, a salesperson or agent is required to work under an active supervisor.
Join Local Professional Organizations
After you have completed and passed your test and received your license you will need to join a local professional organization. This is a step you do not want to skip, as it ensures you will begin to develop and build a solid network that will build a foundation for your new career. You can find these organizations at many of the local real estate investing groups and your local association of realtors for future potential clients. Building relationships within the field you will be working in is vital to your success, this way you have a community of help if you should ever find yourself in a position to need it.
Complete Your First Development Deal
There’s no substitute for hands-on experience. Just like in any other profession, in commercial real estate you’ll learn better and quicker by completing deals. According to experienced commercial real estate developers, the best way to start is to purchase and fix a commercial property. During this process you’ll learn the intricacies of contracts, managing any contractors, how to obtain the proper permits, and more. As you become more familiar with ins and outs of commercial real estate development you’ll start seeing high yield returns on your investments in no time at all!
Stay Ahead of Your Competition with Advanced Certifications
When you’re the best at what you do, you have a target on your back. If you are looking to remain at the top of your game, consider additional or advanced certifications that will build your skillset…and ultimately make your more attractive to future clients. Examples of additional certifications include analyst certification, project manager certification, or associate developer certifications. By having additional tools at your disposal you’ll be able to have more control of your commercial real estate projects and mitigate any potential risk while striving towards high yield returns.
Casey Development, Ltd: Commercial Real Estate Developers in San Antonio
The experts here at Casey Development have been investing and developing commercial real estate for decades. If you’re looking to learn more about commercial real estate development, interested in starting a career in commercial real estate, or are looking to partner with the best commercial real estate developer in San Antonio, contact Casey Development, Ltd. today!