Douglas Ebenstein - Becoming a Successful Real Estate Developer

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  1. 1. Douglas Ebenstein - Becoming a Successful Real Estate Developer By Douglas Ebenstein
  2. 2. Introduction As president of Capital Commercial Properties of Boca Raton, Florida, with its legal office in Falls Church, Virginia, Douglas Ebenstein developed a recognized Mecca for Asian culture on the East Coast. First built in the 1960s, Eden Center, under the leadership of Douglas Ebenstein, transformed a neighborhood shopping center into a regional shopping center that features multiple malls including the modern Saigon Garden and Saigon West areas. Doug Ebenstein joined Capital Commercial Properties while he was a student at Duke University pursuing his law degree.
  3. 3. Becoming a successful real estate developer requires attention to some key points, including: Choose the location wisely Most experts recommend conducting significant homework regarding location prior to searching for a property. This task may involve examining the median price of homes in the area or determining what types of development projects surround the property. Knowing this information beforehand gives developers a good indication of the growth potential of real estate in the immediate vicinity. Determine the budget Once a developer locates a property, he or she must be aware of what is realistic with regard to the budget for the new investment. Financial elements to consider include a down payment, monthly mortgage payments, and the cost of renovation and redevelopment.
  4. 4. Conclusion Develop an expertise Experts recommend developing expertise in a specific area, whether it is retail establishments or luxury properties. That way, developers establish a brand and reputation for being an expert in one particular niche.