[emix84]

Originally Posted by karguy95

RE investor here, how do you get into developing?

I'm in eastern Europe, not sure this segment has many similarities with the US or if it is at all relevant to you. I build apartment buildings for middle to upper middle income families, developing is not that hard to get into here compared to western countries. The biggest hurdles are the planning approvals and financing to some extent as you need a lot of upfront cash. But the market here is doing exceptionally well, and there is a huge housing and housing quality deficit waiting to be filled.

[barryc365]

Originally Posted by emix84

I'm in eastern Europe, not sure this segment has many similarities with the US or if it is at all relevant to you. I build apartment buildings for middle to upper middle income families, developing is not that hard to get into here compared to western countries. The biggest hurdles are the planning approvals and financing to some extent as you need a lot of upfront cash. But the market here is doing exceptionally well, and there is a huge housing and housing quality deficit waiting to be filled.

When you say the planning approvals are difficult, is it corrupt? Do you need to know/pay the right people? I always got that impression anytime I was over there. No different than a lot of places but still very annoying

[emix84]

Originally Posted by barryc365

When you say the planning approvals are difficult, is it corrupt? Do you need to know/pay the right people? I always got that impression anytime I was over there. No different than a lot of places but still very annoying

Things have changed dramatically in the past 10 years, corruption is much less of an issue, however it doesn't mean it went away completely. My main gripe is the bureaucracy of the approval process itself, for an apartment building it can take up to 1 year in some cases, even if it is an area already zoned for mixed use or residential. Depends on the locality though, if it's in the city center it's longer, if it is in a new, undeveloped area or suburbs/satellite towns it can be quick (2-3 months). If you need to change zoning, that becomes a really big hurdle and can take years.

[2011ninja]

Originally Posted by FISH22

Bunch of fancy pants in here

Active Duty Navy for the last 19 years.

Good stuff

Credit is definitely due for any skill that requires special training.

As I got older, I find the most valuable traits are from decent people who add value to society in general.

Break one part of the human chain and we are all effected.

[emix84]

Originally Posted by bsmf8x

Most people in RE you find come out of something that got them the capital

I'm in healthcare (self employed) and plan to exit & go into RE development when I get bored & have the capital

The more cash you have, the exponentially better real estate gets, developing large scale projects isn't cheap

Guy probably made a ton in oil&gas. Having 250k cash you can only do so much. Having 2.5 mil cash on hand.. completely different story.

The first step to get in is $$$, but you can still make small profits before you get real capital.

If someone in RE wants to correct me I'd be curious to see your perspective

That is spot on, not much to add to this.

Developing RE is capital intensive, and there is certainly a glass ceiling that makes a difference to the scale of such a business. To make enough money to grow, reinvest and live comfortably at the same time requires a big turnover, because you can't really do anything else. I mean you can't make this a side business, it's very time consuming. Just investing and renting it out is completely different to being a developer. For me it's very rewarding, for the first time in my life I actually enjoy doing what I do, and play a big part in the design&build process, studied everything from architecture, engineering to construction even though I don't have a formal education in these fields, I like to think I have a reasonably good grasp on things. I keep up to date with the latest trends, construction materials, changing needs of buyers, purchasing power for the segment I am targeting (it's growing constantly and people are demanding more features/luxuries which are nearly impossible to add after the fact in an apartment building) etc.

[DimM3]

Dentist😀.

[bri1042]

Originally Posted by DimM3

Dentist😀.

[dialogical]

Originally Posted by DimM3

Dentist😀.

Wait a second I thought you guys all drove 911s?

[DimM3]

Originally Posted by dialogical

Wait a second I thought you guys all drove 911s?

Waiting for my girls to grow up before I go to that territory 😅

[DimM3]

Originally Posted by bri1042

😂

[caber]

Software engineer, web development

[Mstpolo]

Work for NIKE running the North East business!

[2011ninja]

It's a full time job

[herbnlegend]

OR Nurse - I'm looking forward to having a cooler car than the surgeons. Ordered my M4 comp a few weeks ago!

[Likeanowl]

I get paid to fly around the world with your favorite music artists and make them sound good lol

['Cane]

I'm retired. I am a partner in a hospitality related business, but my partners handle the day-to-day.

[M3ANSPEC]

Haven't taken delivery of my G80 yet but it's scheduled to hit the Northeast port the first week of December.

I'm a Parts Manager at a Chevrolet dealership

[kiw1]

Work for Deloitte Consulting focused on Finance

[M3coco]

Hair stylist/beauty industry

[TVonthe80]

Finance guy for a major utility provider

[masab321]

Doctor - Oncologist.

[TonyTone]

Marketing Manager