You know how they say if it ain’t broke, don’t fix it? We beg to differ. There’s a certain risk attached to working on developing investment property, because it requires effort and monetary investment on your behalf, but the payoff more than makes up for it.
What does Property Development even mean?
Think of property development as a way of up-cycling real estate. You take raw land, already existing structures, buildings, or property and build up on them. It involves releasing, re-investing and renovation, among other processes and development. The intention behind it is to improve upon an existing structure to sell, rent or lease it out for greater value.
It may sound excessive and wasteful to put so much effort and money into something only to sell it off; but it’s the same as buying raw, loose fabric, creating a beautiful dress out of it. The finished product, which may have taken effort to make, is worth significantly more than a few yards of loose cloth.
Is it worth the added cost?
Almost definitely! When you work with a team as dedicated to your long-term profits as ours, you‘ve got nothing to worry about. We’ll work with you every step of the way and our in house construction team is one of the best in New York.
Manage all the costs, problems and issues that come with developing property is tough. It involves finding the right contractors, figuring out paperwork, legalities, and restrictions. Once done though, we also offer property management services that include finding you the right tenants, handling and settling rent and other factors.
By the end of it all, your property will be worth a lot more than when you started off, and this means you can charge higher rents. Since it will be newly and thoroughly developed when you work with managers like ours, you’ll face less maintenance and repair costs in the long run too!
The perks of property management are definitely worth the obvious risk that comes with any investment. Contact us and enter the development market in New York. You’ll regret missing out the incredible opportunities here!