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Troubles in Real Estate Development
Wouldn't it be nice if you could have all of your development projects handled in one place? In today’s age, we are experiencing a shift in technology, and all our used whiteboards and tons of notes. The recent pandemic has proved that not everything we do requires us to be there all the time. We have adapted as humans to handle all our diligence more efficiently. Disruptive technology has been a controversial topic among real estate developers as the wave of tech and smart homes are making traditional homes less desirable.
There are many “what if” factors that happen a lot in the development industry but there is one thing that will never change in the process of real estate development and that is the more communication and organized your project is, the less risk you will run into such as budgeting and time management.
Where can there be an ALL-IN-ONE?
At Terrakan we have designed a tool that is especially for you. The tool for all the “what if’s”. A tool to help find data on your project and even advise you of the current condition of that property to see if it is a lucrative opportunity or not.
Terrakan has had a complete suite of services that have provided the prepared real estate developer with tools such as feasibility reports on your single and multi-family investments. This is useful for investors as they get to have this cheat sheet with valuable data that is difficult to find.
Ordinarily, you'd have to spend hours researching municipal codes and combing through hundreds of pages of city and county records. Once you’ve completed that, you'd have to retain a land-use consultant, architect, or expeditor to gather even more insight directly from the planning department’s complex databases.
Terrakan has access to municipal and state property data to help developers gather important information. We will help you identify what has been built, what could be built, and how much value it will bring according to current standards. This is priceless information for realtors, developers, architects, and property owners, as it saves you time, energy, and money from investigating the potential development value of a property.
Terrakan has developed a solution to the issue currently in real estate development which is addressing the lack of infrastructure. There has been a lack of needs being met in infrastructure. At Terrakan we want to begin to address these needs by making sure the right people are placed so there are no unforeseen events in your project. At Terrakan we pay close attention to the current conditions and have a search directory that is dedicated to finding someone for each step of your project.
Our search directory consists of lenders, architects, engineers, escrow companies, developers, contractors, title companies, real estate offices, and real estate attorneys. Each of these areas of specialty has its own set of filters which divides these into specific areas that you are looking for.
You are also able to see the reviews, the vendor’s website, areas served, years of experience, and license number. This way you can have a good idea of who is it that you are bringing on your team.
VPM (Virtual Project Manager)
The true feature is saved for last as it has given Terrakan users an entire suite of tools that they will be able to use in the development process. VPM or Virtual Project Manager is the new golden egg for real estate developers as they can manage all their projects and be able to communicate with all their team members on one platform.
The true beauty of VPM is the fact that you won’t have to rely on notes or whiteboard jots to keep yourself up to date with what is happening with your project. In your project overview, you will be able to see the progression of all your projects that have been going one
Once clicking on these projects you can then see the different phases that make up this project and what still needs to be completed or already finished. This is useful to see how much time you are spending on a specific area of your project for budgeting purposes.
Once clicking on the projects tab you will be able to see all the details for that project. Each team member is assigned tasks to complete. Here you can see what activity has been done with the project such as updates, documents added, and tasks that have been completed by your team. This was designed for the sole purpose of making your life easier as a developer and help get all your projects as organized as possible.
We understand that things are always changing that why we made the feature to let the appropriate and designated roles of admin and owner be able to edit and change parts of the project according to its status or needs. Adding members and tasks is also a feature when making changes to projects.
To make this the most centralized real estate hub possible, we have also made the meetings section in VPM where you can go and schedule meetings for the appropriate project. Meeting projects are color-coordinated according to the project that it is related to. Meetings feature is the equivalent of reminding everyone in your project that “we are on the same page” and to forever avoid the “what did they say?” Meeting minutes and notes will be available for you so you know exactly when and what the meeting was about.
When thinking about who did what in the project can be a tedious task and an essential part of budgeting. Now your team will be able to record everything they complete or added so you can have an eagle eye over the whole process of the project. The activities log will tell you all the actions that were recorded in the project. This can help you determine exactly what you need the next time you have a similar project to have more understanding of how much time was spent and what was completed as opposed to a good verbal agreement.
Both activities and meetings preview can be seen in the overview tab helping you have exactly what you need when you need it.
You Got The Power!
Having the power has never felt better! Terrakans VPM is here to help you go from good to great and great to where your imagination stops. VPM has been created to help the real estate developer accomplish its development goals in a timely and efficient manner.
We cordially invite you to come to check out the suite of tools that tons of real estate professionals are talking about. Also, be sure to contact Terrakan to see how you can become one of our trusted vendors today and be listed on your search directory. Welcome to the Terrakan family we cant wait to see the greatness unveil.