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 - Successful Boston Real Estate Developer and Insurance Executive