A Day in the Life of a Property Developer
Interested in becoming a property developer, but want to know more about what the job entails? There's a lot more to the job than shows like Homes Under the Hammer might have led you to believe. It's a risky and competitive business, and if you enjoy having regular hours, co-workers and financial stability, it may not be for you.
Still think you have what it takes to make it as a property developer? Then read our guide to a typical day in the life of a property developer to find out more.
Wake up and head to the property you're currently developing. As the project manager, you need to be on site first thing to check your team of construction workers are there and ready for the day. You make sure they know what they're doing and have everything they need. Today, there's been some confusion over the arrival of a key piece of equipment, so you spend an hour making calls to sort it out.
You go to view another property that's just come on the market, to see if it has potential as your next project. You can tell it needs a lot of work, so make some notes and then go away to crunch the figures. In the end, you estimate that it's not worth making an offer, so ring the real estate agent to let them know, and end up arranging another viewing for later in the week. You've actually already made offers on a number of other properties, but the market is so competitive you know the vast majority of those are unlikely to be accepted.
You grab lunch while reading up on the financial news. You need to be on top of all the latest developments in the finance and property sectors at all times, not to mention always on the lookout for areas in need of developing.
You drive to B&Q, where you pick up all the materials your construction team will need over the upcoming days.
You drive back to your property, drop off the materials, check up on the construction team's progress, and then wait for the building inspector to arrive. The inspection goes well and you breathe a sigh of relief - an unexpected problem has the power to throw the entire project off-schedule.
You receive a phone call telling you that an offer you made on a property three weeks ago has been accepted. You immediately book two meetings for the next few days. One with your bank, to discuss financing the project, and another with the local planning authority, to discuss your development plans and suss out which planning applications you should file.
You go home, excited at the possibility of having a new project in the pipeline, and ready to repeat the whole process again the next day.
If the above sounds appealing, then being a property developer may well be the right career for you.
If you'd like to develop your skills in this area, why not sign up for our property development course? As an introductory course, it requires no existing background knowledge, and will give you a thorough grounding in all aspects of property development, from finances and building regulations through to marketing properties and moving into foreign markets. To learn more, just visit the course page or contact one of our expert staff today.