Real estate investor and entrepreneur Jean Francois Desormeaux recently discussed how to become a real estate developer.
Jean Francois Desormeaux is a dynamic entrepreneur who now focuses solely on commercial and multi-residential real estate development projects. Desormeaux is known for his in-depth knowledge of renovation budgets, maintenance costs, deadline management, and profitability studies.
The field of real estate development may seem unattainable to some. However, Desormeaux recently discussed the requirements and abilities needed to become a successful real estate developer.
What Is A Real Estate Developer?
Desormeaux explained many individuals understand the basics of real estate development but are not exactly sure what the daily routine of a developer is. He stated that real estate developers are responsible for overseeing the entirety of any real estate development project, including financing, managing, building, and marketing the project.
Desormeaux explained that real estate developers often work in teams with individuals specializing in their respective disciplines. For example, one member of a real estate development team is in charge of finances, and another controls the marketing strategy.
“A real estate developer must scout properties to purchase, supervise the entire construction process, and manage the new building,” Jean Francois Desormeaux said. “It’s a multi-part occupation, but that’s much of what makes it so interesting and rewarding.”
Requirements for Real Estate Developers
A real estate developer doesn’t need any specific degrees, but studies in related fields and prior experience in real estate can improve a developer’s chance of success. The following are several recommendations for individuals interested in joining the field of real estate development.
Understanding Real Estate Regulations
Comprehending real estate regulations in any given part of the country is why professionals in the real estate industry are primed for development. Real estate agents must learn local and state rules and regulations and knowing these regulations helps developers choose the best properties and ensure construction is in line with local safety codes.
Expertise in a Type of Real Estate
Many realtors and real estate investors choose to focus on one area of real estate, whether it is commercial projects, residential projects, or others. An individual who understands his expertise and works within his specialties is more likely to succeed.
Excellent Social and Communication Skills
Real estate developers are often seeking investors for large, costly projects. Investors are interested in projects they believe will result in the highest profits. A developer must be able to sell his idea to investors and communicate with them throughout the process. Real estate investors are more likely to dive into projects with developers they trust.
Jean Francois Desormeaux Real Estate Developer
Jean Francois Desormeaux did not become a real estate developer overnight. He began his career as an entrepreneur specializing in representation and management. His colleagues praised him for his expertise in sales, market development, and ability to seek excellent business opportunities.
Desormeaux began his career in construction and ultimately real estate at 22. Years of dedication to his crafts and advancing his abilities led him to change courses into multi-residential and commercial real estate development. He enjoys sharing his knowledge with those aspiring to do the same.