Before William Deyesso was the CEO of Buyer’s Choice, Inc., he served as the executive vice president for Winn Development. Despite the change in focus, real estate management and development remain strong passions for William Deyesso. Here are a few tips for new real estate developers:
1. Know Your Market: Taking the time to learn your local area’s real estate market will be invaluable to your business and help ensure success on riskier projects. Knowing the market means you will have a grasp on local housing patterns, school rankings, bubbles and low points. Understanding the long-term housing trends help you make informed decisions on your own long-term investment strategies.
2. The Outskirts of Town: If you notice real estate prices in your city are rising, it is likely a sign of high demand. When this happens, it is not uncommon for a town’s outskirts to also become in-demand areas. Keep an eye open for any areas close to major public transportation lines, and check with city officials to see if any new transportation plans are in development.
3. Plan With Investors in Mind: While your ultimate goal may be to design a project that appeals to the end buyer, you will first need to impress potential investors, getting them excited about your plans and addressing any concerns they have regarding risk, your experience, and the project itself.
William Deyesso is a veteran of corporate management, insurance, and real estate. With decades of combined experience as the CEO of the third party insurance company Buyer’s Choice Inc. and as executive vice president of Winn Development, where he specialized in the management and development of real estate. While at Winn Development, William Deyesso was active in preserving the affordability of existing housing developments.
According to the Federal Department of Housing and Urban Development (HUD), the supply of affordable housing in the United States is decreasing. Additionally, demand for affordable housing has increased at the same time.
Preserving existing housing units is generally more efficient and cost effective than constructing entire new housing complexes and this method also has several benefits to the local economy. Besides costing only one-half to two-thirds as much as new construction, preserving existing housing allows residents to maintain social networks in the area. Rehabilitation of existing housing can also focus on energy-efficient enhancements or similar improvements. For additional information on preservation of affordable housing, visit the HUD website at www.huduser.gov.
William Deyesso - Successful Boston Real Estate Developer and Insurance Executive