In the real estate market, being a real estate investor is not the only available career or business path. There are many other options worth exploring, one of which is becoming a real estate developer. Richard Josephberg, Almorli Capital founder, has been in this business for over two decades. His real estate development and operating company is committed to a seamless development and construction process.
Real estate development, also known as property development, is the act of finding and buying land, creating new buildings or making improvements to the already existing ones (whether houses, apartments, office buildings, or shopping complexes) on that land, and then selling the real estate. Richard Josephberg Almorli Capital strategy consists of acquiring, developing or repositioning under-valued retail shopping centers and mixed-use assets in excellent locations. This process involves the purchase of raw land, rezoning, construction and renovation of buildings, and sale or lease of the finished product to end users. Richard Josephberg Almorli Capital earns a profit by adding value to the land (creating buildings or improvements, rezoning, etc.) and taking the risk of financing a project.
Real estate or property development is a risky business. It can lead to highly lucrative returns, but it can also cause heavy losses. The good news is, due to the massive population growth and the growth of the real estate market, the need for successful developers is constant. However, you should know that a successful real estate developer isn’t created overnight and is definitely not born. Anyone can start a career as a real estate developer, but success in this business comes from a combination of attitude, experience, education, instinct, and the lessons learned from both victories and failures. For Richard Josephberg Almorli Capital, the secret to becoming a successful real estate developer lies in acquiring the right experience and education that will help you grow and succeed in this sometimes volatile and always challenging industry.
The vast majority of real estate brokers and developers work with three major property types accounting for most of the real estate ownership transfers:
· Vacant Land
· Residential Properties
· Commercial Properties