5 Steps to the Feasibility Study Suite
Without a comprehensive understanding of the characteristics of your real estate property and its surroundings, you won't even know where to begin effectively developing your real estate property. When obtaining the most information possible you'll be able to take the next steps to develop a project with its optimal potential.
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Developing a product that lacks demand, especially at the wrong time, could result in losing your and your partner's entire investment. By gaining clear insight into the supply pipeline and market demand, you'll be able to deliver products that are highly desirable, thereby maximizing your chances of success.
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Vision Schematic Design
Without a financial plan, your project isn't likely to secure essential financing. With a real estate pro forma, you'll gain a comprehensive under-standing of the economic structure of your project, allowing you to articulate every detail, and attract the investors you need to make your project a success.
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Having no investment deck, you risk deterring potential investors and lenders from financing your project. A solid well-thought-out investment deck instills confidence in you and your partners, provides a thorough insight into your project, and increases the chances of attracting the capital you need.
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Vision Schematic Design
Visualize Your Project
So Your Numbers Make Sense
Without seeing what you're building before purchasing a property, you won't get a complete picture of what you are getting into. When you have a clear visional, you can develop your site more accurately.
The Disadvantages of Not Having a Schematic Design
Many real estate developers start their projects on the back of an envelope without having a clear vision of exactly what they are developing. This can result in the following:
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Overpaying for a property because you thought you could build more.
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Setting bad expectations for your partners.
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Wasting too much time and money, having your architect start from scratch.
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Going into a city planning meeting with no clear vision or idea of what you want to build.
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Overpromising things to your local authorities that you can't deliver.
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Inserting inaccurate numbers into your financial pro forma and realizing later that the deal is bad.
Develop with a Clear & Precise Vision.
Starting with a clear schematic design ensures your project is on the right track. Visualize your project before it's even built and allow yourself to see the actual size of it, address potential issues in advance, and make necessary changes to your financial model and site plans. This saves you time and money by avoiding costly mistakes later in development when it's too late. In addition, by accurately seeing your project in advance, you can ensure that it's built to the best possible standards through your budget, meets the needs of your target market, and is financially feasible. This will also help you secure the necessary green light from regulatory bodies to move ahead. Moreover, having a detailed plan can demonstrate your understanding of the site's constraints and opportunities, making it easier to negotiate with the local authorities and navigate the approval process. Don't leave your project's success to chance - take the time to plan it out with a clear vision and set yourself up for success.
Optics Schematic Design
Get a crystal-clear vision of your project and use it to create a detailed financial pro forma before investing time and money into the site plans. With your schematic design, you can refine your plans before moving on to the final site plan designs and present a compelling vision to your partners, lenders, and local planning offices. This will give you the certainty that all the stakeholders are on board before taking on additional risks. The three-dimensional rendering, floor plans, and project metrics will allow you confidently articulate your ideas and make informed decisions to achieve the best results in your real estate venture - negotiate with local authorities, line up the capital you need, and know for yourself the project has potential. By visualizing and planning your project carefully, you can avoid costly mistakes and setbacks, streamline the development process, and increase the likelihood of success. Later, with a well-crafted vision and financial plan, you can build a strong foundation for your real estate project and position yourself for long-term growth and profitability. Don't go into another project blindly. Start by painting your crystal-clear picture.
Leverage Our Experience & Avoid the Mistakes
At BLDGUP, we understand the pitfalls of starting a project on a whim, only to realize later that it wasn't the best move. We've been lucky to avoid going broke from such mistakes, but we've heard horror stories from others who weren't as fortunate. You might think you can build one thing but end up with far less space than you hoped for. Perhaps you've sketched out a dream project on a napkin during lunch, only to crunch numbers on your smartphone and realize it's not feasible. When it comes to scaling up to large projects, those tactics won't cut it any longer. We've made those same mistakes and learned the hard way that hiring professionals to analyze the site and market and create a comprehensive schematic design with 3-D renderings, plans, and detailed unit matrices is crucial. Before we did that, we didn't realize how far off our initial numbers were. It took us years of experience and money lost to start approaching projects the right way. We're excited to share what we've learned with you through our experienced team. You don't have to make the same mistakes we did or burn through millions of dollars to gain our knowledge. Instead, use our team and streamline your development process. With our Optics Schematic Design, you'll not only save time that you can allocate to better use, like finding deals and raising capital, but you'll also avoid countless costly mistakes that can come from going at it the wrong way. So, toss out the napkin and take the professional approach. The Optics Schematic Design will give you a clear picture of your vision and help you communicate it effectively to those who need to support it. Save yourself a ton of money and time by avoiding the mistakes we and others have made. Instead, take advantage of our experience and expertise. Hear how satisfied our partners are with our work:
Developing Properties From:
Vacant Warehouses
Underutilized Properties
Vacant Office Parks
Industrial Properties
Medical Facilities
Underperforming Rentals
Houses of Worship
Financially Distressed
Farmland
Urban Infill
Environmental Issues
& Others
Why Waste Time & Money Visualize Your Project, so Your Numbers Make Sense
If you're developing a property, not taking the proper steps costs you a lot. Before you even break ground on a project, you must do your due diligence and assess the project's viability. First, you're conducting a site analysis to understand the characteristics of your subject lot. Then, once you have a general understanding of the property, you should be doing a market study to learn what sells best in the market. With those pieces in mind, you're envisioning a project, so you need to create a schematic design to visualize it before you run a financial pro forma to determine if the project is worth pursuing. The schematic design is a preliminary visual representation of your proposed project typically created by an architect or designer. It shows the basic layout, shape, and size of the buildings or structures, as well as the surrounding landscape, parking areas, and other key elements of the development. The schematic design is an essential step in real estate development because it helps you, the developer, and other stakeholders, such as investors, partners, and local authorities, visualize the project and make key decisions about its design, function, and feasibility before investing more time and money into final site plans. That's where BLDGUP's Optics Schematic Design comes in. Our design team analyzes the site and market and creates a comprehensive schematic design that includes floor plans, unit counts, and common areas, allowing you to gauge the true net and gross square footage. The numbers will also be presented in easily digestible metrics that can be integrated into your development financial pro forma. The design can be refined over time as the project progresses and more detailed information becomes available. In addition, our team provides you with a 3-D massing rendering to help you communicate your vision to partners, investors, and municipal officials. Armed with this information, you'll be able to confidently negotiate, knowing and conveying that your investment is solid and your project is feasible. Even if you realize the project is not feasible, the Optics Schematic Design can help you adjust the design and perhaps even the use until it makes sense. Or, you may even decide it doesn't, pass on it, and go to the next one. By doing so, you can avoid costly mistakes and ensure that your project is a success. At BLDGUP, we understand the costly risks associated with real estate development, and that's why we're committed to providing our clients with the tools they need to succeed. So don't leave your projects to chance - get the Optics Schematic Design and start your project on the right foot.