These are some of the key factors to consider when searching for the right site.
Location/Area:
- Is it close to you?
- Is it a good area or bad area?
- What are the average values in this area?
Who is your target market?
- Buy to Let
- First time buyers
- Social Housing
- Executives
- Families
- Build to rent
Purchase Price
Can you afford what you are looking at?
Joint venture, private funding, crowd funing?
Are you looking at greenfield or brownfield sites?
- Greenfield - Undeveloped land areas that have never been used for construction, typically natural and often covered with grass
- Brownfield - Previously developed land that is now vacant or in need of redevelopment
What is your exit strategy?
"Always start with the end in mind" - Stephen R. Covey
Knowing your exit will be will help you plan moving forward and at scale.
Retain, refinance and rent out?
Completely sell?
Planning uplift?