There has been a lot of media coverage on the major developments that are happening in St. Louis. Just this week Pyramid Cos. announced their developer of a $600 million retail district in downtown in a St. Louis Business Journal Release .
This project along with others such as The Bottle Works District, Chouteau's Pond, and Ball Park Village are very exciting for the St. Louis Region and command much of the media headlines. However, there are countless individuals and small companies participating in real estate development. This can be as simple as buying a house and renting it or taking on a four-family rehab project. These small projects are just as important for the region as the major projects. The nice part about these small projects is that they are manageable and can be very profitable.
I took on my first project in 2004 and it has been a source of pride and profit ever since. A picture of the restored fireplace, mantel, floors, and french doors is the pic for this post. I was not an experienced developer, I simply wanted to try my hand in it. I sought the help of books and most importantly people with experience, and ended up with a profitable mini-development.
This project along with others such as The Bottle Works District, Chouteau's Pond, and Ball Park Village are very exciting for the St. Louis Region and command much of the media headlines. However, there are countless individuals and small companies participating in real estate development. This can be as simple as buying a house and renting it or taking on a four-family rehab project. These small projects are just as important for the region as the major projects. The nice part about these small projects is that they are manageable and can be very profitable.
I took on my first project in 2004 and it has been a source of pride and profit ever since. A picture of the restored fireplace, mantel, floors, and french doors is the pic for this post. I was not an experienced developer, I simply wanted to try my hand in it. I sought the help of books and most importantly people with experience, and ended up with a profitable mini-development.
2 comments:
What elements came to mind when you picked the first development? What should I look for? Investment is really scary for me since I am just a young professional but I really know that it is very important for me.
Good words.
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