How to avoid negotiating blindly…

Many of you are out there seeing fantastic development sites every single day and not knowing how to take the next step or what to do now (unless you have done our development course in which you should all know exactly what to do!).

Finding the site is obviously the most important step – if you don’t have a site, you cant play the game and we need to play the game to get the profits.

So, once you have found a site that you believe is going to work you now need to do your research before you even start talking price. You need to work backwards and work out how much it is going to cost to develop so you can work out how much you are going to pay. Otherwise you are negotiating blindly and giving away your profits.

So once you find out site, follow these steps:

1. contact the council and do some research using “the right tools” to determine what can be built.
2. call 3 architects to further confirm what you may be able to build and what their costs will be.
3. call 3 builders for quotes.
4. call at least 1 engineer (preferably 3) for quotes.
5. do a feasibility study to determine if their is any profit.
6. decide if you will go ahead.
7. determine how to buy the deal, structure it etc.
8. start negotiating

if you have done my development course and you have the mentoring include, at step 6 you can send the feaso to me and I will help you determine if you want to go ahead and do the deal.

So, do the above steps. Let me know if you run into trouble (if you are a mentoring student) and lets make you some money developing!!

Cheers,

CARLY