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<span class="mw-headline">Land developers</span>
<p>Land developers typically acquire natural or unimproved land (often
referred to as englobo land, raw land, real property with no
improvements or infrastructure) and improve it with utility connections, roads, earth grading, covenants, and entitlements.
Infrastructure improvement provides a base for further development of
built improvements. Covenants define the context in which future
development of built improvements may take place (often in the form of deed restrictions on particular parcels: a sort of "private zoning
code" limited only to those properties). Entitlements are secured legal
permissions from regulatory bodies (typically in the form of permits, but sometimes in the form of re-zoning or planned unit developments).
Once these improvements have been made to the raw land, it is typically
subdivided and sold piecemeal at a profit to individuals or building
developers.</p>
<p><a name="Building_developers" id="Building_developers"></a><span class="editsection"></span><span class="mw-headline">Building developers</span></p>
<p>Building developers acquire raw land, improved land, and/or
redevelopable property in order to construct building projects. The
buildings are then sold entirely or in part to others, or retained as assets to produce cash flow via rents
and other means. Some building developers have their own internal
departments for designing and constructing buildings (more common among
larger developers), while others subcontract these parts of the work to third parties (typical of small developers). k</p>
<p><a name="Where_do_developers_come_from.3F" id="Where_do_developers_come_from.3F"></a><span class="editsection"></span><span class="mw-headline">Where do developers come from?</span></p>
<p>Although there are specific educational programs which are tailored to teaching real estate finance with an emphasis on development (in the United States, typically MBA programs at university-level business schools), most real estate developers enter the business from other professional areas. Most often, persons in related fields (architecture, accounting, law, engineering, construction, planning,
etc.) enter into real estate development via personal interest and
opportunity, and then choose to make a career out of it if successful.
An educational background in finance
is typically a prerequisite for obtaining entry-level employment with
an established development company, although many development company
managers tend to come from architecture, construction, and related
fields. Real estate development requires extensive and complex
financing arrangements to be successful, as few people or organizations
have the money to undertake development projects on their own (see
below).</p><br>