3 Steps to success
Great, so you have planning and are ready to look at the next step, you have 3 main options:
- Sell your site with planning (or before if you don’t have this yet).
- Enter a joint venture agreement where an investor bares the costs.
- Pay for the development yourself
Enter a joint venture agreement
This can be another great option for helping to reduce risk with a development. There are many different ways of setting up these agreements but typically they work in the following way.
- You would receive some financial help to get your development completed.
- We reach out to our network of investors and find the best deal for you.
- The investor agrees to put in some or all of the funds required and often a large amount of expertise in return for a share of the profits when the deal is completed.
The downsides to selling from plan:
- You have to wait for the development to complete and for the property to sell / rent until you see any return.
- If the development goes over budget it may mean that there is no profit left in the deal.
- If you do do not have much property experience then the investor may want to have take away some of the decision making power from you. This may be a good thing if you want a hands off deal.
Pay for the development yourself
We are on hand to help guide you through the process and point out any possible issues or hurdles that may stand in your way.
We all know that ‘preparation is the key to any good job’ and never does this stand more true than in property developments.
At DML have the expertise and resources to ensure that all the boxes are ticked and that the build goes as smoothly as possible. We generally aim to find a developer who can manage the whole project from start to finish.
Typical services required:
- Architects or Designers
- Structural engineers
Even if you have had extensive development experience it is very easy to make an oversite on a project which can result extra costs which far exceed any profitability left in the deal.