Development Strategy

Advantages:

• Potential good profit above cost
  
• You create the equity instead of waiting for it
• Potential to get finance and capital based on the deal instead of your own capacity
• Allows a lot of creativity to create value
• Multiple exit strategies to make money
• Excitement and pride as you can call yourself a developer

Disadvantages:

• Inefficient use of your money due to long processing time
• Easier to make a loss if you don't know your craft
  
• Planning ,building, finance and selling risk
  
• Requires larger capital base than is usually estimated
• Requires a high level of commercial and people skills
• Lower income while holding the site for permit