How to Become a Property Developer: A Practical Guide

In short: Most developers start with refurbishments or small conversions, then move to new-build as they gain a track record, which lenders want to see. You'll need a team: architect, planning consultant, quantity surveyor, contractor, solicitor and an agent who knows end values. Finance usually moves from cash or bridging to development finance covering a share of costs. Planning risk, cost overruns and sale prices are the main threats to profit, so appraise every deal carefully and build in contingency. Fraser Bond advises developers on end values and sells or lets finished schemes.