Becoming a property developer is a great way to kick start a lucrative career that will help you go places. On the same note, there are also many disadvantages to this career path that one should be aware of before they make the decision to tread on this path for their future. Here are some of the drawbacks that a real estate or property developer can hope to expect even while they are in a way, beneficial.
The path to starting your developments
As a student you will have to go through years of extensive and intensive study for which you will need to pay out of your pocket and the real estate developer courses do not come cheap. They do not just teach you about the Northwave EC floor plan, they will teach you everything from having a good eye for a project to market research and attractive media campaigns for the marketing. Be prepared for some brain stirring academics.
You will be your boss
Is that even a drawback? Who does not like to be their own head? However, the downside to this is that because you are independent, you will have to take on all the costs of running your company. You need to be able to look into budgets for pretty much every aspect of this such as technology, marketing and even the lead generation part of it. Even if you want to get the cost of the executive condo, you will need to pay the brokers that work for you, for it. A lot of people overlook the kind of time, energy and money that will be needed if the business is to be truly rewarding.
Your capacity to make money
While the job is certainly one of the most lucrative ones available today, you need to be prepared for the fact that it can take some time for your business to get that boost that it needs. At the start of your business, you must be willing to live without being able to get a paycheck from your business for yourself. It all basically depends on the condition of the market. On some occasions there can be an abundance of business while on others there may be instances where a sale does not happen o months on end.
While the schedules that you will be working for will be flexible you will need to meet clients and the likes at the times that they want you in. if you cannot make it during that time, they will most certainly go to another developer who can meet their time. There is no lack of developers in today’s world. You will undoubtedly need to keep working during holidays and weekends and late into the night and taking time off will mean that you do not get paid.