I viewed once somebody here seeking advice on this, unfortunately, finding the thread consumes much of time than writing this, so I just posted a new thread. Let me just point on major items in general here and leave the minor details to others who may willing to share their experiences.
In real world, Land Development is a simple cyclic process but entails a lot of pressures as you go along the process. There are a number of important things that should be considered by whoever intends to setup his own land development firm, namely;
1. You have the passion or sustained interest in the project or land development business, per se.
2. You should have sufficient fund with a registered business name and set a vision for your firm.
3. You should have a firm resolve to pursue your vision or a mission statement.
4. You have to be committed to devote time on your work, and work on your corporate values, goals and strategies.
Starting small is basically easier to manage, and expand it further once you have gained the experiences and trainings.
Critical stages are product development, financing, marketing & selling and property maintenance.
You should commission the services of the following professionals to help you out in pursuing your dreams either in-house or contractual or retainer’s fee.
1. Lawyer- business registration, legal works, litigation, contract letting, deed transfers and other laws interpretation.
2. Planner-Site planning and analysis, feasibility studies, land use proposals, etc.
3. Architects-landscape and interior designs, project theme strategies/character for amenities and house designs if you intend to include housing packages.
4. Layout artist-design for advertisements, brochure, flyers, leaflets and other sales materials.
5. Engineers-civil & structural works, quantity surveying, geo-technical surveys, land surveys, lines and grades, transport and road designs, wall protections, sanitary works, waterworks, telecommunications, etc.
6. Accountants-Funding, Financing, Cash flow monitoring and other fund disbursements.
7. Property Consultants/Marketing-product development, product testing, pricing or packaging schemes, market positioning, etc.
8. Land Development Contractors/Builders-implementation of designs.
9. Property Manager-maintenance and turnover of plots to buyers.
There are some issues that affect the profitability in land development like the following;
1. Boundary/plot problems, land dispute,
2. Steep terrains (lower yields).
3. Unsuitable soils (you need to replace them with suitable one).
4. Aquifer problem, No water source, Hardpan strata in case of a communal deep well system.
5. Waterways traversing properties (you need culverts or bridges here).
6. Accessibility (you need right-of-way to connect to existing major road).
7. No drainage outfall (you need r.o.w..to discharge sewers or provide detention ponds)
8. Strict zoning ordinances.