Michael Snedeker serves as executive vice president of Elite Building Corp. near Boston, Massachusetts, and possesses extensive experience in commercial construction and real estate development. Credited with helping his Boston-area development firm grow from a start-up to a profitable business, Michael Snedeker is skilled at identifying and launching new developments. Aspiring development professionals looking for their first success in the commercial real estate field should follow these guidelines as they navigate their first project. Start with thoroughly researching the local real estate market and potential partners. Next, assess your financial resources and your credit potential. As you work on financing, ask any co-developers to commit to contracts. When firming up ideas, consider sticking with the easiest and smallest version of a development project, and avoid getting tripped up by unnecessary expansions. Your first project should be successful, and it also should serve as a learning experience for you as a developer. Expect things to go wrong and focus on learning how to fix inevitable hiccups in the process. Finally, work on a project budget and timeline as you search for a suitable site. Make sure to confer with the builder and any engineers or architects you’re working with regarding the potential of the development site before settling on it.
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AuthorThroughout his career in Commercial Real Estate, Michael Snedeker has demonstrated a dual commitment to production and client service. Archives |