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Ron Forlee

In "An Intelligent Course on Real Estate Development", architect and successful international real estate developer Ron Forlee shares his many secrets in this high risk, high reward industry. With this practical "how to" guide, you too may be able to capitalise on the next real estate boom, or even the next burst of the real estate bubble.

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In "An Intelligent Course on Real Estate Development", architect and successful international real estate developer Ron Forlee shares his many secrets in this high risk, high reward industry. With this practical "how to" guide, you too may be able to capitalise on the next real estate boom, or even the next burst of the real estate bubble.

This course is the perfect introduction to the industry for novice developers (although there is plenty of information for seasoned practitioners too), or those considering in investing in real estate development. It covers the whole gamut of residential and commercial development, including:

· The attributes of successful developers

· How to reduce the risks in developing real estate

· Choosing a team of appropriate development consultants

· Conducting a feasibility study, and calculating your profit

· Selecting finance and managing your way to success.

Real estate development is a risky business, but if it is planned and managed correctly, the rewards for developers and investors alike can be immense. This is the guide to help you succeed.

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What's inside

Learning objectives

  • Understand what is takes to be a successful real-estate developer: get an excellent understanding of real estate development and the ingredients required to be successful real estate developer and investor.
  • Learn and develop new skills: learn about sound real estate development principles and how to manage the development process from inception to operation and investment management.
  • Gain strategic advantage: learn how to identify unique opportunities in real estate development and to implement smart development strategies.
  • Expand your knowledge: learn how to prepare feasibility studies, cash flows and determine value and secure funding for your project.
  • Learn to choose which area of real estate development suits you: you will get a full spectrum of the real estate development industry from residential to commercial so that you can decide which area you best.
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Syllabus

INTRODUCTION

• Why do people develop real estate?

• Incredible opportunities

• Calculated risk

• Significant knowledge required

• Sustainability

Read more

• High risk, high profits

• Rewards in real estate development

• Risk in real estate development

• Do you have the right attributes?

• Selecting the type of development

• Size of development

• Location

• Rent or sell?

• Personal time

• Active or passive developer?

• Types of developers

• Development ownership entities

· Advantages of developing

· Disadvantages of developing

· The comparison

· Residential versus commercial developments

· Factors that affect the timing

· The investment cycles

· The best time to buy a property to develop

· Recognise signals for rising markets

· Recognise the signals of a falling market

· The best and worst time to develop

· Planning your survival

· The stages of real estate development

· Stage 1 - Vision

· Stage 2 – Concept

· Stage 3 – Technical

· Stage 4 – Construction

· Stage 5 – Implementation

· Selecting the right consultants

· Types of professional consultants

· Why prepare a feasibility study?

· Calculating your development profit

· Property measurements

· Market valuation methods

· Trends significant to sale prices

· Constructing your feasibility presentation

· Factors affecting finance

· The finance process

· Costs and charges of raising finance

· Major sources of development finance

· Methods of raising finance

· How a lender assesses a loan

· Negotiating for a loan

· The role of the developer

· Dealing with and managing people

· Basic principles of good management

· Dealing with your professional team

· Guidelines for meetings

· Dealing with government authorities

· Dealing with buyers

Dealing with tenants

· Benefits and risks

· Market demand

· Development strategies

· Market profile

· Location analysis

· Site analysis

· Market research

· Development team

· Prepare a building budget

· Design considerations

· Building contract

· Construction stage

· Construction alternatives

· Marketing

· Types of higher density housing

· Benefits and risks

· Development strategy

· Market demand

· Location analysis

· Site analysis

· Market profile

· Market analysis

· Development team

· Design considerations

· Cost factors

· Finance

· Building Contract

· Marketing

· Types of office developments

· Benefits and risks

· Development strategy

· Market demand

· Location analysis

· Site analysis

· Market profile

· Market analysis

· Development team

· Design considerations

· Cost factors

· Marketing

· Viability

· Types of tenants

· Office Leases

· Types of retail developments

· Benefits and risks

· Development strategy

· Market demand

· Location analysis

· Site analysis

· Market analysis

· Development team

· Design principles

· Cost factors

· Construction

· Marketing

· Tenants

· Lease agreements

· Property management

· Types of industrial buildings

· Benefits and risks

· Development strategy

· Market demand

· Location analysis

· Site analysis

· Market profile

· Market analysis

· Development team

· Design considerations

· Cost factors

· Marketing

· Viability

· Tenants

· Leases

· Property management

· Benefits and risks

· Development strategy

· Market demand

· Market analysis

· Location analysis

· Development team

· Planning considerations

· Rezoning

· Cost factors

· Finance

· Construction

· Marketing

· Seniors Accommodation

· Student Accommodation

· Childcare Centres

· Hotels and resorts

· Plan your strategy

· Focus on timing

· Focus on location

· Focus on a specific type of development

· Set the correct finance structure

· Gain knowledge

· Set your goals

· Enjoy the journey

Traffic lights

Read about what's good
what should give you pause
and possible dealbreakers
Explores the whole spectrum of residential and commercial development, which provides a broad understanding of the real estate landscape
Covers the stages of real estate development from vision to implementation, which offers a comprehensive overview for beginners
Discusses how to develop various types of properties, from small residential projects to large commercial centers, which is useful for those seeking specialization
Examines the attributes of successful developers, which helps learners understand the personal qualities needed to thrive in the industry
Teaches how to prepare feasibility studies and secure funding, which are essential skills for managing real estate development projects
Includes content on rezoning land in rural and urban locations, which may require learners to familiarize themselves with local laws and regulations

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Reviews summary

Practical guide to real estate development

According to students, this course provides a solid foundation in the principles and practices of real estate development. Learners highlight its practical approach and the comprehensive coverage of the development process from vision to implementation. The course is praised for its detailed exploration of topics like feasibility studies, securing finance, and managing projects and people. Students find the modules on residential, commercial, and retail development particularly useful, appreciating the insights into various property types and strategies. It seems well-suited for both novices and those considering real estate investment.
Ideal for beginners in real estate development.
"As a novice developer, this course provided the perfect introduction."
"It started with the basics but quickly built up to more complex topics."
"I had very little prior knowledge, and this course made the industry accessible."
"It's a great starting point if you're considering getting into real estate development."
Teaches how to analyze project viability.
"Preparing a feasibility study seemed daunting, but the course broke it down effectively."
"I feel confident in my ability to calculate development profit after this module."
"The section on market valuation methods and trends was incredibly insightful for my projects."
"Learning how to construct the feasibility presentation is a key takeaway."
Covers residential, commercial, retail, and more.
"I appreciated the detailed look at developing different types of properties, from small residential to large commercial."
"The comparisons between residential and commercial development were very helpful for choosing my focus."
"Insights into retail and industrial projects added significant value beyond just housing."
"Even niche areas like seniors accommodation and hotels were touched upon."
Provides practical guidance on funding and managing.
"The strategies for securing development funding are practical and easy to understand."
"Understanding how lenders assess loans is crucial information."
"I found the sections on managing consultants, authorities, buyers, and tenants highly practical."
"It gave me a solid understanding of the role of the developer in managing people."
Covers full development process step-by-step.
"I learned the entire step-by-step process, from initial vision all the way through implementation."
"The course laid out the development stages clearly, which was exactly what I needed."
"It details everything from concept to construction and managing the final product."
"Understanding the different stages helped me see the bigger picture."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in An Intelligent course on Real Estate Development with these activities:
Review 'Real Estate Development: Principles and Process'
Gain a solid understanding of real estate development principles and processes.
Show steps
  • Read the book's introduction and table of contents.
  • Focus on chapters related to feasibility studies and finance.
  • Take notes on key concepts and examples.
Review Basic Financial Concepts
Strengthen your understanding of financial concepts crucial for real estate development.
Browse courses on Net Present Value
Show steps
  • Review basic accounting principles.
  • Practice calculating net present value.
  • Familiarize yourself with financial statements.
Review 'The Real Estate Game'
Gain insights into real-world decision-making in real estate development.
Show steps
  • Read the book's introduction and key chapters.
  • Analyze the case studies presented in the book.
  • Relate the concepts to the course material.
Four other activities
Expand to see all activities and additional details
Show all seven activities
Conduct a Preliminary Feasibility Study
Apply course concepts by evaluating the feasibility of a real-world development project.
Show steps
  • Identify a potential development site.
  • Research local market conditions and regulations.
  • Estimate potential costs and revenues.
  • Prepare a preliminary feasibility report.
Develop a Project Proposal Presentation
Synthesize your knowledge by creating a compelling presentation for a hypothetical real estate project.
Show steps
  • Choose a specific type of real estate development.
  • Develop a detailed project plan.
  • Create a visually appealing presentation.
  • Practice your presentation skills.
Attend Real Estate Industry Events
Expand your network and learn from experienced professionals in the real estate field.
Show steps
  • Research local real estate events and conferences.
  • Prepare questions to ask industry professionals.
  • Attend events and network with attendees.
  • Follow up with contacts after the event.
Write a Blog Post on Sustainable Development
Deepen your understanding of sustainability by researching and writing about its role in real estate.
Show steps
  • Research sustainable development practices.
  • Outline the key points for your blog post.
  • Write a compelling and informative blog post.
  • Share your blog post on social media.

Career center

Learners who complete An Intelligent course on Real Estate Development will develop knowledge and skills that may be useful to these careers:
Real Estate Developer
A Real Estate Developer manages all stages of development projects, from initial vision through to completion. This course introduces the complexities of real estate development, and explains how to manage a project at every stage, starting with the seed of an idea, and continuing through to implementation. A prospective real estate developer would benefit from the specific information on various types of real estate development, including residential, commercial, retail, and industrial, as well as land rezoning. The course's coverage of feasibility studies and financial management will also help a real estate developer build a foundation in this area.
Development Manager
A Development Manager is responsible for overseeing real estate development projects, ensuring they meet set objectives and are completed on time and within budget. This course is beneficial for those interested in becoming Development Managers, because the core curriculum is focused on the processes of development from inception through to completion. The syllabus includes how to hire consultants, prepare feasibility studies, and secure funding, which are tasks frequently undertaken by development managers. Those looking to enter development management will learn from this course the specific skills to manage a team, deal with government authorities and handle the marketing of a completed development.
Real Estate Consultant
A Real Estate Consultant provides expert advice on matters related to real estate, such as market analysis, property valuation, and development strategies. This course will provide a strong base for those planning a career as a real estate consultant because it covers many areas relevant to the work of consultants, such as the best time to develop, how to conduct a market analysis, and how to choose a development team.. A real estate consultant can find value from the detailed sections on feasibility studies and selecting the right consultants for a project. This course offers a broad and deep understanding of the development process which is extremely useful for consultants.
Project Manager
Project Managers in real estate development oversee the planning, execution, and completion of construction projects. This course offers insight into the entire real estate development, and teaches key skills useful for project managers, such as managing consultant teams, and securing project funding. This course provides information regarding the typical roles of professional consultants on a project. Also covered are budgeting and financial management. While a project manager typically is not involved in the financial aspects of a project, its useful to understand the language and requirements of the finance team. This course can be beneficial for project managers entering the real estate development field.
Real Estate Investor
A Real Estate Investor strategically invests in properties with the goal of generating profit. This course is a good starting point for someone wishing to enter real estate investing because it provides a thorough understanding of the risks and rewards of real estate development. The course gives background knowledge on the differences between investing and developing, which is essential for a real estate investor. It covers a wide range of important topics including market cycles, project feasibility, and financial management. The course is particularly useful for investors looking to understand the factors that impact the success or failure of a real estate development project, including market analysis and development finance.
Construction Manager
A Construction Manager oversees construction projects, ensuring they are completed on time and within budget. The course emphasizes the stage-by-stage process of real estate development from vision to implementation; this process is core to the duties of a Construction Manager. This course covers the full spectrum of real estate development, from residential to commercial, which provides a well-rounded view of the field, assisting with a broad understanding. A construction manager would benefit from learning the various real estate types covered in the course, as well as the project management principles discussed. The study of construction alternatives would also be of value.
Land Acquisition Specialist
A Land Acquisition Specialist focuses on locating and acquiring land for real estate development projects. In this course, the lecture on developing and rezoning land is especially important to a land acquisition specialist. This course will also teach critical skills in areas such as market analysis and project feasibility. The course provides a broad overview of the real estate development process from the developer's perspective, which will help land acquisition specialists understand the needs of their clients. This also provides a frame of reference, as well as an understanding of how their role fits into the larger context of a real estate project.
Property Manager
Property Managers oversee the daily operations of real estate properties, ensuring they are well-maintained and generate profit for the owner. While this course focuses on development, it provides beneficial insight into property management, particularly in the commercial sector. The course covers commercial office, retail, and industrial developments, which is extremely relevant to the work of a commercial property manager. Studying the course content will help those already managing property understand the overall context of the development cycle, and the relationship of property management to the development process.
Urban Planner
An Urban Planner works to develop plans for the growth and development of cities and communities, which includes real estate. The course provides an overview of the various types of real estate developments and how to approach them from a developer's perspective, which is critical to a complete understanding. Urban planners will find the sections on rezoning and land development particularly useful. Ultimately, seeing real estate development from the perspective of a developer can provide additional insight into the concerns and considerations of development projects and planning.
Real Estate Analyst
A Real Estate Analyst researches and analyzes real estate market trends to inform investment and development decisions. This course is beneficial for those interested in becoming real estate analysts, as it provides a comprehensive overview of the real estate development process. Core to the work of an analyst is the feasibility study; this course covers how to prepare a feasibility study and how to calculate profit. Also of value is the course's focus on trends significant to sale prices and market valuation methods. This course will help build a foundation for real estate analysts.
Construction Estimator
Construction Estimators calculate the costs associated with construction projects. This course provides background information about the real estate development process, including the financial side, which can be an advantage for construction estimators. The course includes information about preparing a building budget, which is useful for cost estimating. Construction estimators may also gain greater contextual understanding of a development, as the course covers a wide range of topics, including the specific details of residential, commercial, retail, and industrial developments.
Finance Broker
A Finance Broker helps clients secure funding for real estate projects. While this course is geared toward developers, the section on securing development funding would be valuable for a finance broker. This includes information on the finance process, the costs of raising finance, and how a lender assesses a loan. Finance brokers will have more success working with real estate development clients and lenders if they understand the process of development. The course will help the broker to understand the needs and requirements of their clients.
Architect
Architects design buildings and other structures. While this course primarily focuses on the finance, marketing, and management aspects of real estate development, it gives architects knowledge into the wider context of real estate development. Understanding the developer's perspective may help architects better understand client needs. Architects may also find useful the course's sections on selecting a development team, and on design considerations for various types of projects.
Marketing Manager
A Marketing Manager develops and oversees marketing strategies for real estate projects. This course provides marketing managers with a basic understanding of the real estate development process, including the types of developments, feasibility studies, and project management. This information is beneficial to marketing professionals who need an understanding of the real estate development industry. The course also includes information about marketing various types of real estate developments. A marketing manager will gain knowledge of the stages and considerations of the development process.
Civil Engineer
Civil Engineers design and oversee the construction of infrastructure projects, which may be part of a real estate development. This course focuses on the development of real estate itself, but it may be useful for civil engineers who also want to understand the wider context of a real estate development. The course provides a broad overview of the development process, from vision to implementation. The course covers feasibility studies and project management which may be informative for a civil engineer, even though they do not manage those aspects of a project.

Reading list

We've selected two books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in An Intelligent course on Real Estate Development.
Provides a comprehensive overview of the real estate development process, from initial concept to project completion. It covers key topics such as market analysis, site selection, financing, and project management. It commonly used textbook in real estate development programs and provides a strong foundation for understanding the industry. This book will add depth to the course by providing detailed explanations of core concepts.
Provides insights into the decision-making processes involved in real estate investment and development. It uses case studies and real-world examples to illustrate key concepts. It is valuable as additional reading to understand the complexities and nuances of the real estate industry. This book adds breadth to the course by providing real-world examples and case studies.

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