Property development is so capital intensive that funding has taken center stage. However, access to capital does not come easy especially following the global financial crisis. That’s why it’s important for property developers to understand how they can access proper funding. Take our step-by-step guide below.
Contact your funding provider and their preferred quantity surveyor (QS). This draws confidence from your lender or bank. If they see a solid team behind the property development project then access to funding can become easier.
2.Understand your and your financier’s finances.
The first step to understanding your financial development capabilities is to understand your own. Know where money comes from and how it can be utilised for your project. The same goes for your lender. You cannot afford your financier to go bankrupt in the middle of the project.
3.Get the right numbers.
A successful project relies heavily on planning. Have a clear view of how much the project will cost so you can budget accordingly. This mitigates risks and prevents anyone from going bankrupt. You can ensure project savings early in the design phases when changes still cost loss. Giving early feedback on construction costs, design options, and value management are very important.
Consult the right professionals. This will contribute largely to your success since they have experience on what you want to achieve. Be careful with picking your contractor and financier. Research on the most preferred contractors in the industry. This spares you from encountering dodgy professionals.
At Windsor Capital Management, we can help you arrange everything especially capital access for your property development. We have been in the industry for many years guaranteeing our expertise for a wide range of property development projects.