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Wow. Can you imagine what kind of wealth you have to have to build a million plus square foot commercial development project, a big box retail outlet shopping center kind of place. The infrastructure alone is tens of millions of dollars. The parking lot, the sidewalks, the drainage, the underground utilities, the electric, the plumbing, the landscaping. Before you even put up a brick for any of the buildings, you could be 10, 20, $30 million invested in just underground utilities, environmental, architectural plans and permitting. And then your hard costs, again, sidewalks, sewer, asphalt, landscaping. Then you got to build out your million square feet, and then you got to rent it and lease it. These are the big boys who are able to borrow the big money from the worldwide banks that lend on these big developments. And the trick is many of these people are so intelligent, so wealthy, they know how to build a project like this that could be close to a few hundred million dollars without using any of their own money.
They’re just smarter than me and you, but this is an article of real estate at its finest. And these kind of developments go on all over the world, all over the country. They got them going on in Vegas and Arizona. They got them going on in Maryland and Georgia and Florida, it’s everywhere. These are the big players of the world. These are the people to study. This is real, real estate. This is real wealth. And I was fascinated by this article as I first visited the Winter Garden Villages only a few weeks ago. It’s about 15 minutes from where I live. It’s a huge, beautiful, relatively new shopping complex that you drive through, you get out, you walk around, it’s an outdoor plaza type of place.
They’ve got things like this in Delray Beach, Florida in Miami, in Fort Lauderdale, again, all built by billion dollar corporations. This one was interesting because I was just completely inebriated with who the builder was, when it was done, the history of it. I love history of these big projects. It’s quite possible I’ll never do one in my life and you may not either, but you can still be rich from real estate by doing a bunch of small projects. I tell everyone a small project in real estate is still a big project. Let’s say you build a small three unit shopping center, maybe just three stores, a little mini strip. I call it.
Well, that’s like owning a business. May cost you five, 600,000 to build that place out. You might’ve paid a hundred thousand for the land. You might have to borrow six or $700,000. Your rents from the three tenants hopefully will pay your mortgage, taxes, insurance and give you a profit every month just like any other business. Now just multiply that and get to a million square feet and try doing that and playing in this league, and it’s quite a leap. I hope this comment helped you in your pursuit to acquire property and become wealthy because I’m constantly reading and learning from the bigger players. I can be reached at (201) 289-2500. Thank you so much.
Winter Garden Village construction begins was originally published on Orlando Sentinel.
About The Author
- Robert Louis Annenberg Is a 40 year seasoned property owner, manager, investor, builder/developer and business man who is also an author of five published books to date (Amazon.com) and the chief editor of LifeQuestJournal.com. He can be reached at: Info@RobertAnnenberg.com and (201) 289-2500.
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