Real estate development mistakes you should avoid
There are a lot of businesses that can be categorized as “high-risk, high-reward.” One such business is real estate development. Unlike other endeavors, a real estate business doesn’t rely much on equipment, logistics, or other hardware. More often than not, you can run your own real estate development firm from a small office or even your home. Image source: five-stargroup.com Image source: realtor.com According to Eugene Bernshtam, what is necessary in real estate is capital, knowledge, charisma, and passion for the business. And while knowledge can be acquired with experience, there is very little room for error in real estate development as it is often costly. Here is a couple of common real estate development mistakes you should avoid. Underestimating expenses Looks can be deceiving, especially when it comes to real estate development. What may look like a well-priced home could turn into a nightmare buy upon further inspection. Jumping the gun without con