Deciding to get into the California’s real estate game could be the easiest decision you make. As you embark on a new development, you will need to go through numerous steps before you can even break ground on the construction. Of course, there always seem to be other issues to address as the project moves forward as well.
Nearly every development starts out the same way — finding the right location. Thereafter, real estate contracts, title matters, zoning issues and more require your attention before the land becomes yours. Unless you have unlimited funds, you will also need to procure financing, which often leads to another set of requirements from the lender.
The people you work with on the project could make or break its success. Not only does this include investors and lenders, but also the general contractor, subcontractors, suppliers and vendors, among others. Surrounding yourself with the right people can help things move forward more smoothly.
Other useful tools include the documents associated with the development. Real estate contracts, construction contracts and lending agreements all require careful negotiation. Protecting your rights and accounting for any potential disputes, delays or other issues in these documents could end up saving you in the end.
One other tool at your disposal is a California commercial real estate attorney. A variety of legal issues will and/or could arise at any point during the development process. Reconciling the legal issues with your business decisions will more than likely require some advice and assistance.