Finding a Developer who will Turn Property Samba into a Reality
Everything I've said so far will be just one more idea on a paper unless you find the right person or company to turn it into a reality.
Yes, you have done the math, motivated the owner into accepting your agreement and you already picture yourself lying on the couch in your apartment. But, can you do it all by yourself?
You will need an architectural design for the actual property subdivision process. The associated repairing, remodeling and building tasks usually involve:
Removal of the original non-structural partition walls,
Construction of new non-structural partition walls,
Division of gas, electricity, water and phone utilities,
New installation of or remodeling of existing toilets and kitchens,
Alteration or addition of internal drains,
Thickening of floors to accommodate new/diverted drain pipes,
Addition of door openings
Addition of ventilation openings,
Removal or addition of windows,
Just to name a few of the most important things.
But the most important thing is to obtain planning permission to carry out this development. You know, you cannot just decide to subdivide a house without having the permission to do so.
And all of this means finding and paying an architect to develop the plan, design or layout for each apartment with all the necessary features, then running around various institutions, submitting documents and not knowing if the outcome will be positive or negative.
This is the moment when a certain guy enters the picture: a real estate developer!
He is the owner of a company who is capable of converting an idea scribbled on a paper into a reality. He and his company are the ones who will construct the actual Property Samba Project.
The developer employs or subcontracts all kinds of construction workers and skilled professionals in the construction business.
The importance of finding a good developer!
If the remodeling and construction of the property are not carried out properly, the entire environmental and building safety of the property may be adversely affected.
The best developers in the business are acquainted with the requirements for fire safety, and the inclusion of unauthorized door and window openings may violate state or national fire safety regulations.
Additional opening for ventilation may adversely affect the integrity of the construction.
Overloading the property with thickened floor screenings and erecting additional non-structural partition walls can jeopardize the future of the entire project.
This is why you will need to be extra careful when you begin your hunt for the best property developers in your area.
Here are some ideas on where to start looking:
Personal Recommendations
You might want to start with your friends and family. Ask them if they know a good developer and ask them how they heard about this person. Ask if the recommendation is based on a personal reference (the developer worked for them on a certain property), or they heard about him through someone else's recommendation.
Write down his name. If you see this name being repeated more than a few times on your list, you might want to find this person and have a chat with him.
Talk to building inspectors
Building inspectors know which property developers routinely meet construction requirements, which is a very important aspect of a developer's work portfolio.
Drive around town and talk with developers on the construction sites
The best-case scenario is stumbling upon a developer in the area in which the house or residential lot is situated.
This developer has done all the math, knows the area, and knows the market value of the properties here, so this will make your job much easier.