Investment properties can be a nice way to build equity, leverage an asset or re-sale for capital gains. However, there are distinct differences in a successful or unsuccessful real estate investment. Not every project will be lucrative and they can often turn into a financial burden if not properly managed from beginning to end properly – meaning a negative loss on your investment.
It’s clear that there’s a risk involved in investing in property. There are so many potential hurdles to overcome, whether it’s construction finance structuring, construction project cashflow management, cost overrun, project scheduling inaccuracies and improper construction assembly. Miscalculations in your construction costs or project schedule can lead to bankruptcy.
The stakes are high. Like any investor, return on your investment is paramount. There may be many bumps along the road in your project and a professional can help you to seamlessly navigate the complexities of your project why keeping it afloat. An experienced construction management or design-build firm can give you the peace of mind that is crucial to a flawless project.
Here are some other services that your construction management or design-build firm can help you with:
- Quantitative construction cost data for comparative and accurate Proforma Budget
- Zoning and architectural design history to improve the bureaucratic preliminary processes in site plan applications and minor variances
- Estimating and value engineering strategies for cost-effective construction practices
- Feasibility studies on land surveying, environmental reports, geotechnical reports and land preparation forecasting
- Familiarity with construction financing structure, private lenders, and timelines for construction financing draws
- Synchronizing financing with construction costing to ensure proper flow of capital for the project in according to project costing.
- Trade procurement and relations with pre-screened trades who build to high standards and Ontario Building Cost Standards
- Project management systems, scheduling history and construction team to ensure the success of the project on time and budget.
These are just some of the many benefits of using a construction management firm or development firm for investing in investment properties. These variables alone should make a good argument on why it is a necessity to use a firm from the initial stages to the end of the project. If you are in the Ottawa or Toronto area, Orange Design Build can provide development services that include: Land Acquisition, Land Zoning and Site Plan Applications, Estimating, Construction Finance Services, Project Scheduling and Construction Management Services inclusively.