Flashcard: Mastering Property Development Fundamentals — 10 carte

Stages of property ownership

Land acquisition, construction, occupancy, management, sale

Property development stages?

Land, construction, occupancy, sale.

Construction durations — office?

18-48 months

Construction durations

Office: 18-48m, Retail: 6-48m, Multifamily: 6-24m, Industrial: 9-12m.

Development team members?

Architect, engineer, designer, manager, broker, consultants, lawyer, accountant, surveyor, financiers

Core development team?

Architect, engineer, contractor, broker, consultant, legal, finance.

Development costs?

Soft, hard costs, finance, contingencies, profit, reserves.

Highest & best use criteria?

Physically possible, legally permissible, financially feasible, most productive.

Major development risks?

Cost overruns, delays, market downturns, poor workmanship, tenant issues.

Flow of funds?

Draw schedule aligns with construction milestones, lender reviews.