It’s incredible to realize that after over 15 years in real estate, its still an amazing industry to be part of. I say that because I thought I knew it all a few years ago. And yes I am still learning. Investment ( commercial) real estate has 2 faces for me now. One is the investor looking for that next cash positive property in Barrie or Orillia and the other is a developer looking for a property that they can change to a higher and better use.
The first part of my real estate career has been spent looking for ( and buying) investment property like a nice student rental up near Georgian college or a small apartment building in Midland.
The past 2 years however I have focused on project managing and land development. And this experience has been eye opening to say the least.
I suddenly realized that it is very difficult to wear the developers hat and the investors hat at the same time. Now I know a few of you would say its all the same. But I can honestly say that where I spend my time while working for each is like spending time in night and day.
Here is what I mean. With real estate investors you spend your time looking for ROI, existing buildings, tenant profiles, property management and the like. With developers you spend your time with councillors, architects, planners, lawyers and general contractors.
The common element between real estate investing and real estate developing is of course you’re dealing with land and the end result of making a profit. That is where the similarities end however. Because getting to that end result, the process of achieving a profit, is very different.
The time spent with city councillors and planning staff is vastly different then spending time with tenants, and property managers. I am certainly not saying one is better then the other, simply that the TIME spent to see a project to fruition is spent in very different arenas.
I write these comments to assist anyone considering making a change from one to the other. Take heed, they are very different. And yes I would love to help you make that decision !
For Real Estate Investors and Developers For Residential Real Estate