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National Directory of Real Estate Developers

National Directory of Real Estate Developers

Finding established and credible real estate developers in your area can be not as easy as it looks like. Many of the developers don’t really advertise themselves to a general public. These real estate development companies tend to be more private than other types of real estate companies and therefore you need to apply some extra researching skills to actually find them. Fortunately, on HouseCashin platform, we strive to provide an accurate list of the most reputable real estate developers in the United States. We invite you to browse our nationwide directory of real estate development firms and contact those located near you.

Frequently Asked Questions

Real estate developers are people or companies that develop or redevelop real estate into a usable property. Realty developers are often people who previously worked in other areas of the industry such as construction or real estate brokerage. They may start doing small projects on their own, or they may join a real estate development corporation as part of a team. Most developers specialize in a particular type of property. For instance, residential real estate developers will stick to land development for residential housing. They may confine their work further by focusing only on multi-family apartment complexes, or single-family neighborhoods like luxury homes in high-end real estate communities. The property being developed could be raw land or distressed property called infill projects. Existing improvements, such as utility communications or roads, may be renovated or demolished and rebuilt entirely. Most cities have a property development agency to assist with infill projects. They help with permitting, zoning changes, or even tax credits for community improvement or low-income housing development.

A real estate developer plans and creates improved real estate properties, managing all aspects of the project from beginning to end. The biggest challenge for real estate development firms is to find suitable land for an affordable price. The developer carefully examines the property to ensure that they can use it for their intended purpose. That’s why they negotiate a long inspection period in the purchase contract. They will obtain soil and environmental tests, surveys, topographical maps, engineer’s plans, possibly even traffic studies before moving forward. Preliminary plans are submitted for permitting and rezoning if needed. Experienced property development companies will insist that permitting and zoning issues are settled before they close on the purchase. Before the end of the inspection period, the developer secures the funds needed for the project through lender financing, investor capital, or both. When final plans are ready the developer solicits bids from the best contractors and negotiates construction contracts. The developer will oversee all construction activities. During construction, the developer markets the project to the eventual users. If the project is a home development, they will sell lots for new build homes. A condo community is marketed to buyers, an apartment complex would be marketed to renters. Commercial properties need companies and businesses to lease retail units, office space, or industrial warehouses.

Real estate development projects are typically financed with a combination of equity and debt. The equity or cash invested can come from high net worth individuals or groups of investors. They receive distributions or a share of profits if there are any. This is less expensive than debt where you have to make monthly payments regardless of the success of the venture. However, equity investors receive a percentage of ownership related to their level of investment. They could wind up owning most of the project. Developers will often try to keep as much ownership as possible by recruiting only enough equity to make the minimum loan down payment. This is usually 30% of the total cost of the project. Acquisition and Development loans, or A&D loans, provide for the purchase of the property and the construction of improvements. Loan funds are handed out in draws as work is actually done. The developer has to use their equity first before the lender will provide its funds. The lender charges interest on the amount actually loaned until the project is complete. When all loan funds have been drawn, the construction loan ends and a permanent amortized loan begins with monthly principal and interest payments. This is called a construction mini-perm loan. Development debt lenders may be traditional banks, life insurance companies, non-bank finance companies, or even real estate investment trusts (REITs). The best option is often a local credit union or a regional bank in your location that is familiar with the market.

Developers are either paid by being a partner in the ownership of the property or by being paid a fee for their services. That is called a fee developer. In some cases, an owner/developer will also charge a fee. Fee developers perform most of the duties of an owner/developer, but they may not be needed to locate and evaluate the land. Fee developers are usually hired for smaller projects such as a house, or a free-standing retail building like a bank or restaurant. They can also be used for larger projects like a retail strip center or neighborhood retail center. Fee developers are paid a percentage of the total project costs. On smaller projects, they will charge 4% to 6% of the costs. Larger projects which consume more of their time will pay them between 10% and 15% of the total costs, although on more complicated projects a developer may charge as much as 20%. You should interview several developers and review their quotes carefully.

If you have a real estate project that needs managing, engaging the services of a real estate developer can be the most critical decision that you will make. Ask other investors that you know for their opinion on who the top-rated developers are in your market. Here are some questions to ask so that you get the right developer for your project. Are they experienced in projects that are similar to yours? Are any of their projects in your area? If so, then they may have access to a directory of subcontractors and other vendors in your market who focus on your type of project. How long have they been in business, and do they have a list of successful projects that they developed? It helps tremendously if you can go to a property that they developed and get a feel for their work. Can they provide references? Contact any references that they give you and ask them if the developer came in on time and on budget. If you have your own budget, share it with them and get their comments. Ask them how long they would expect a project like yours to take.

Are You a Credible Real Estate Developer?

We are always looking for reputable real estate developers for our national preferred vendor directory. If you own or work for a credible real estate development company that offers construction services, apply to get listed in our popular vendor directory!