Property

A project cannot happen without property. Now, there are typically two ways people approach it - either they start with property and then look for capital to do the deal, or they start with capital and look for the right kind of property to develop.

To source investment property, there are a few approaches. The easiest is if you already own it. Maybe it's something you inherited or used to be a personal residence or rental property. Or it could be a piece of raw land you've been holding onto for future development. It could also be a property that needs transformation because of time passing, like an old apartment building that's become functionally obsolete.

And then, of course, you can always buy property specifically for development, like converting apartment buildings into condos, expanding the footprint of small commercial buildings, buying single-family homes to renovate and resell or rent, or buying parcels of land for urban mixed-use projects. Whatever the case, if you have a particular investment strategy that requires property, you'll need to go hunting for it.

Now, when you're looking for property, you'll need a clear set of criteria that fits your overall investment strategy and goals. The property must be the right size, price range, zoning, economic market, and potential value. You can build from scratch, starting with raw land, or you can redevelop something and turn it into something else.

Clearly, property is a crucial element of the development process, and it comes in many flavors. Whether you own it already or you plan to buy it, you gotta have a well-defined strategy and specific criteria for your investment goals.