An Excerpt from Alice's Chapter in the upcoming book, From Ordinary to Extraordinary
"What many people don’t understand is that years before a sales office for a condo development goes up, the investors have already provided their money and exited the project! It can take years for a land development deal to get to the ‘sales office’ stage. This development process includes environmental assessments, land studies and permits, government approvals, etc. It can take years just to study the land, work with the local community, create a practical design, and acquire the necessary approvals from various levels of government before the shovel ever hits the ground.
As I’m sure you’ve guessed…all of this requires money. The start up phase is where the developers seek out private equity and groups of investors. Unfortunately, many of these types of projects are not known to the general public and are not advertised anywhere. When was the last time you saw a commercial on TV asking you to trade your RSPs to invest in a townhouse development project? Never, right? I thought so. These types of investments are typically reserved for high net-worth individuals or accredited investors, or they are almost impossible for the average person to access. "