Mining Stock

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CRYSTAL LEAD MINES COMPANYWALLACEIDAHOUNISSUED STOCK CERTIFICATE
CRYSTAL LEAD MINES COMPANYWALLACEIDAHOUNISSUED STOCK CERTIFICATE
$4.15
quality
Magma Copper Company Capital Stock 100 Shares 1926
Magma Copper Company Capital Stock 100 Shares 1926
$9.99
quality
Gold Hammer Mines  Tunnel Stock 1911 Clear Creek County Colorado Share Holder
Gold Hammer Mines Tunnel Stock 1911 Clear Creek County Colorado Share Holder
$130.00
quality
GOLDEN CURRY MINING STOCK CERTIFICATE BOOK JEFFERSON COUNTY MONTANA
GOLDEN CURRY MINING STOCK CERTIFICATE BOOK JEFFERSON COUNTY MONTANA
$249.95
quality
NEW ELKHORN QUEEN INC MINING STOCK CERTIFICATE BOOK JEFFERSON COUNTY MONTANA
NEW ELKHORN QUEEN INC MINING STOCK CERTIFICATE BOOK JEFFERSON COUNTY MONTANA
$299.95
quality
Clarissa Gold Mining Company un issued stock certificate
Clarissa Gold Mining Company un issued stock certificate
$9.99
quality
Old 1934 Bloom Lake Consolidates MINES MINING Stock Certificate CANADA
Old 1934 Bloom Lake Consolidates MINES MINING Stock Certificate CANADA
$14.99
quality
Old 1938 Montague GOLD MINES MINING Stock Certificate Ontario CANADA
Old 1938 Montague GOLD MINES MINING Stock Certificate Ontario CANADA
$14.99
quality
EARLY ARIZONA MINING COMPANY STOCK CERTIFICATE
EARLY ARIZONA MINING COMPANY STOCK CERTIFICATE
$31.00
quality
1937 Lane Rincon Mines Stock Certificate
1937 Lane Rincon Mines Stock Certificate
$3.95
quality
1969 The Ananconda Company Stock Certificate
1969 The Ananconda Company Stock Certificate
$3.95
quality
North Butte Mining Company Stock Certificate
North Butte Mining Company Stock Certificate
$3.95
quality
1955 Pennsylvania Salt Manufacturing Company Stock Certificate
1955 Pennsylvania Salt Manufacturing Company Stock Certificate
$2.95
quality
1959 Pennsylvania Salt Manufacturing Company Stock Certificate
1959 Pennsylvania Salt Manufacturing Company Stock Certificate
$1.95
quality
C1926 Wyoming GOLD Stock Certificate Commercial Gold Mining Co
C1926 Wyoming GOLD Stock Certificate Commercial Gold Mining Co
$144.99
quality
C1907 Wyoming Mining Stock Certificate The Utopia Mining  Milling Co
C1907 Wyoming Mining Stock Certificate The Utopia Mining Milling Co
$74.99
quality
1968 SULPHUR EXPLORATION COMPANY STOCK CERTIFICATE DELAWARE
1968 SULPHUR EXPLORATION COMPANY STOCK CERTIFICATE DELAWARE
$12.99
quality
1958 UNITED WESTERN MINERALS COMPANY STOCK CERTIFICATE DELAWARE
1958 UNITED WESTERN MINERALS COMPANY STOCK CERTIFICATE DELAWARE
$12.99
quality
1961 SPOKANE NATIONAL MINES INC STOCK CERTIFICATE NEVADA
1961 SPOKANE NATIONAL MINES INC STOCK CERTIFICATE NEVADA
$12.99
quality
Goldfield Consoloidated Mines Company WY 1960 Stock Certificate
Goldfield Consoloidated Mines Company WY 1960 Stock Certificate
$14.95
quality
1955 SABRE URANIUM CORPORATION STOCK CERTIFICATE DELAWARE
1955 SABRE URANIUM CORPORATION STOCK CERTIFICATE DELAWARE
$12.99
quality
West Texas Sulphur Company Stock Certificate dated 1917
West Texas Sulphur Company Stock Certificate dated 1917
$4.99
quality
Stock Certificate Agena Mining Company Limited
Stock Certificate Agena Mining Company Limited
$1.00
quality
Parrot 1907 Silver  Copper Mining Stock Certificate Montana
Parrot 1907 Silver Copper Mining Stock Certificate Montana
$5.00
quality
Vintage 1922 1935 Stocks Certificates Oil Gold Gas Cusi Mining Pluto Knee Lake
Vintage 1922 1935 Stocks Certificates Oil Gold Gas Cusi Mining Pluto Knee Lake
$21.00
quality
1905 La Sociedad Mining Co Oklahoma City Stock Cert
1905 La Sociedad Mining Co Oklahoma City Stock Cert
$9.95
quality
Stock Certificate Mines d Entifa France 1923
Stock Certificate Mines d Entifa France 1923
$4.99
quality
Stock Certificate Societe des Mines de Lauriere France 1936
Stock Certificate Societe des Mines de Lauriere France 1936
$4.99
quality
Stock Certificate Mines DAlloue  DAmbernac France 1899
Stock Certificate Mines DAlloue DAmbernac France 1899
$4.99
quality
Stock Certificate Mines de Fedj el Adoum France 1912
Stock Certificate Mines de Fedj el Adoum France 1912
$4.99
quality
Stock Certificate Societe des Mines DArgentella France 1911
Stock Certificate Societe des Mines DArgentella France 1911
$4.99
quality
Divide Extension Consolidated Mines Company Stock Certificate Nevada
Divide Extension Consolidated Mines Company Stock Certificate Nevada
$7.99
quality
1857 MOUNT HOPE MINING COMPANY STOCK CERTIFICATE NEW JERSEY IRON MINE
1857 MOUNT HOPE MINING COMPANY STOCK CERTIFICATE NEW JERSEY IRON MINE
$250.00
quality
1848 VULCAN MINING COMPANY OF NEW JERSEY STOCK CERTIFICATE IRON MINE
1848 VULCAN MINING COMPANY OF NEW JERSEY STOCK CERTIFICATE IRON MINE
$100.00
quality
1882 MAGNETIC CONSOLIDATED IRON COMPANY STOCK CERTIFICATE NEW JERSEY MINE MINING
1882 MAGNETIC CONSOLIDATED IRON COMPANY STOCK CERTIFICATE NEW JERSEY MINE MINING
$100.00
quality
1909 NEW JERSEY STEEL COMPANY STOCK CERTIFICATE IRON MINES MOUNT HOPE AREA
1909 NEW JERSEY STEEL COMPANY STOCK CERTIFICATE IRON MINES MOUNT HOPE AREA
$30.00
quality
Massachusetts  New Mexico Consol Mining Company ME 1881 Stock Certificate
Massachusetts New Mexico Consol Mining Company ME 1881 Stock Certificate
$24.95
quality
Spokane Tin Mines Co WA Stock Certificate
Spokane Tin Mines Co WA Stock Certificate
$18.00
quality
Madison Mines Company Salt Lake City Utah mining stock certificate share
Madison Mines Company Salt Lake City Utah mining stock certificate share
$24.99
quality
OLD ARIZONA TOMBSTONE MINING 1800s SILVER GOLD MINE STOCK CERTIFICATE SCRIPT
OLD ARIZONA TOMBSTONE MINING 1800s SILVER GOLD MINE STOCK CERTIFICATE SCRIPT
$169.99
quality
1900 Stock Sierra Maestra Mining Co East Orange NJ
1900 Stock Sierra Maestra Mining Co East Orange NJ
$19.99
quality
1914 Stock Certificate Mount Champion Mining Maine ME
1914 Stock Certificate Mount Champion Mining Maine ME
$9.99
quality
Glen Alden Coal Co Stock Certificate
Glen Alden Coal Co Stock Certificate
$12.95
quality
1937 King David Mining Co Stock Certificate Beaver County Utah Crown Vignette
1937 King David Mining Co Stock Certificate Beaver County Utah Crown Vignette
$24.99
quality
Stock Certificate Lot Mining 1917 2 Turney Wood 1957 Gas And Electric 1978
Stock Certificate Lot Mining 1917 2 Turney Wood 1957 Gas And Electric 1978
$20.00
quality
Gold  Silver Mining Co 1864 Framed Certificate Of Stock
Gold Silver Mining Co 1864 Framed Certificate Of Stock
$55.95
quality
Calumet  Arizona Mining Company Stock Certificate Bisbee
Calumet Arizona Mining Company Stock Certificate Bisbee
$17.99
quality
New Life Tunnel and Mining Colorado stock certificate
New Life Tunnel and Mining Colorado stock certificate
$16.99
quality
ROCKDALE GOLD MINING COMPANY1860S UNISSUED STOCK CERTIFICATE
ROCKDALE GOLD MINING COMPANY1860S UNISSUED STOCK CERTIFICATE
$18.95
quality
MONITOR MINING COMPANYUNISSUED STOCK CERTIFICATE
MONITOR MINING COMPANYUNISSUED STOCK CERTIFICATE
$3.60
quality
PORTLAND MINING COMPANYUNISSUED STOCK CERTIFICATE
PORTLAND MINING COMPANYUNISSUED STOCK CERTIFICATE
$2.95
quality
GUELPH MINING AND MILLING CO LTDEARLY 1900S UNISSUED STOCK CERTIFICATE
GUELPH MINING AND MILLING CO LTDEARLY 1900S UNISSUED STOCK CERTIFICATE
$3.70
quality
NEVADA UTAH MINES AND SMELTERS CORPORATION1908 STOCK CERTIFICATE
NEVADA UTAH MINES AND SMELTERS CORPORATION1908 STOCK CERTIFICATE
$24.20
quality
Amalgamated Gold Mining Company NV 1929 Stock Certificate
Amalgamated Gold Mining Company NV 1929 Stock Certificate
$39.95
quality
Black Mammoth Consolidated Mining Company NV 1929 Stock Certificate
Black Mammoth Consolidated Mining Company NV 1929 Stock Certificate
$49.95
quality
Tonopah Gipsy Queen Mining Company NV 1925 Stock Certificate
Tonopah Gipsy Queen Mining Company NV 1925 Stock Certificate
$14.95
quality
antique Vintage Stock Certificate 1865 Tyson Iron Company Plymouth Vermont
antique Vintage Stock Certificate 1865 Tyson Iron Company Plymouth Vermont
$49.95
quality
THOMSON DIVIDE MINING COMPANY NEVADA1924 STOCK CERTIFICATE
THOMSON DIVIDE MINING COMPANY NEVADA1924 STOCK CERTIFICATE
$15.95
quality
SUPERB UNCANC 1864 FEEDER DAM COAL CO LUZERNE CO PA STOCK w REV STAMP Rare Find
SUPERB UNCANC 1864 FEEDER DAM COAL CO LUZERNE CO PA STOCK w REV STAMP Rare Find
$99.96
quality
DIVIDE MINING COMPANY OF TONOPAH NEVADA 1912 100 SHARES STOCK CERTIFICATE
DIVIDE MINING COMPANY OF TONOPAH NEVADA 1912 100 SHARES STOCK CERTIFICATE
$17.00
quality
HUGE RARE 1880 MARIPOSA CALIFORNIA LAND MINING STOCK w HEYDENFELDT SIG CV 1000
HUGE RARE 1880 MARIPOSA CALIFORNIA LAND MINING STOCK w HEYDENFELDT SIG CV 1000
$159.96
quality
Galena Mountain Mines and Tunnel Company STOCK CERTIFICATE 500 Shares 2 5 1914
Galena Mountain Mines and Tunnel Company STOCK CERTIFICATE 500 Shares 2 5 1914
$19.99
quality
Con Virginia Mining Co Virginia City Nevada two 1910 stocks
Con Virginia Mining Co Virginia City Nevada two 1910 stocks
$4.99
quality
Union Consolidated Mining Co Virginia City Nevada three 1933 stocks
Union Consolidated Mining Co Virginia City Nevada three 1933 stocks
$4.99
quality
Giant Yellowknife Mines Limited Canada 1988 Stock Certificate
Giant Yellowknife Mines Limited Canada 1988 Stock Certificate
$12.00
quality
Exchequer Gold  Silver Mining Co Gold Hill Nevada 1911 stock
Exchequer Gold Silver Mining Co Gold Hill Nevada 1911 stock
$3.99
quality
Keystone Consolidated Mines mining stock certificate share
Keystone Consolidated Mines mining stock certificate share
$7.99
quality
Stock Certificate Vermont Copper Mining Company 1853 186
Stock Certificate Vermont Copper Mining Company 1853 186
$20.00
quality
Stock Certificate Phillips  Slack Granite Manufacturers Northfield Vermont
Stock Certificate Phillips Slack Granite Manufacturers Northfield Vermont
$7.00
quality
Stock Certificate Eureka Mining Company Corinth Vermont 18
Stock Certificate Eureka Mining Company Corinth Vermont 18
$12.50
quality
Vintage Stock Certificate The New Century Exploration and Investment Company
Vintage Stock Certificate The New Century Exploration and Investment Company
$32.00
quality
Mount Olive Coal Company Stock Certificate Springfield Illinois
Mount Olive Coal Company Stock Certificate Springfield Illinois
$6.99
quality
American Reclamation Company Specimen Capitol Stock Uncancelled Mining 1914
American Reclamation Company Specimen Capitol Stock Uncancelled Mining 1914
$40.00
quality
2 Lehigh Coal and Navigation Company Stock Certificates Pottsville Mining 1930s
2 Lehigh Coal and Navigation Company Stock Certificates Pottsville Mining 1930s
$40.00
quality
Blyvooruitzicht Gold Mining Company South Africa mine stock certificate share
Blyvooruitzicht Gold Mining Company South Africa mine stock certificate share
$4.99
quality
1857 COLUMBIA GULCH FLUMING CO ONE SHARE of STOCK to CHARLES M GRANT VF RARE
1857 COLUMBIA GULCH FLUMING CO ONE SHARE of STOCK to CHARLES M GRANT VF RARE
$375.00
quality
1900s COMBINATION Mining Stock Certificate Unissued
1900s COMBINATION Mining Stock Certificate Unissued
$9.99
quality
Stock Certificate The Big Swede Gold Mines Company Gilbert Nevada
Stock Certificate The Big Swede Gold Mines Company Gilbert Nevada
$9.99
quality
1929 Stock Certificate Latin America Milling California
1929 Stock Certificate Latin America Milling California
$19.99
quality
1910 Art Nouveau Coal Stock Bond Jemeppe Auvelais
1910 Art Nouveau Coal Stock Bond Jemeppe Auvelais
$19.99
quality
Pennsylvania Salt Manufacturing Co Stock Certificate 1940s
Pennsylvania Salt Manufacturing Co Stock Certificate 1940s
$4.99
quality
Wilbert Mining Company Antique Stock Certificates and Memoribilia Scripophily
Wilbert Mining Company Antique Stock Certificates and Memoribilia Scripophily
$25.00
quality
1916 Charbonnage Colliery Stock Bond Certificate lOuest de Mons
1916 Charbonnage Colliery Stock Bond Certificate lOuest de Mons
$14.99
quality
1930 Charbonnage Colliery Stock Bond Certificate lOuest de Mons
1930 Charbonnage Colliery Stock Bond Certificate lOuest de Mons
$14.99
quality
OLD THE FRATERNITY GOLD MINING COMPANY OF NEVADA STOCK CERTIFICATE
OLD THE FRATERNITY GOLD MINING COMPANY OF NEVADA STOCK CERTIFICATE
$15.99
quality
1929 Mining Stock Bond Certificate Imerina Madagascar
1929 Mining Stock Bond Certificate Imerina Madagascar
$14.99
quality
Pioneer Natural Resources Exploration Co INC Company Bond Stock Certificate
Pioneer Natural Resources Exploration Co INC Company Bond Stock Certificate
$10.00
quality
ANTIQUE GOLD MINE STOCK CERTIFICATE VINTAGE MINING INTER STATE GOLD MINING CO
ANTIQUE GOLD MINE STOCK CERTIFICATE VINTAGE MINING INTER STATE GOLD MINING CO
$17.50
quality
1890 Albe Mining Co Stock Certificate DEADWOOD DAKOTA Black Hills Gold Mine
1890 Albe Mining Co Stock Certificate DEADWOOD DAKOTA Black Hills Gold Mine
$195.00
quality
The Engineering  Ore Production Company 1926 Tonopah Nevada stock certificate
The Engineering Ore Production Company 1926 Tonopah Nevada stock certificate
$19.99
quality
4 Different Canadian Gold Mining Stock Certificates And Notes 1940 Era
4 Different Canadian Gold Mining Stock Certificates And Notes 1940 Era
$17.50
quality
DES CHARBONNAGES DE MARIEWKA FRENCH COAL MINING ANTIQUE STOCK CERTIFICATE 1908
DES CHARBONNAGES DE MARIEWKA FRENCH COAL MINING ANTIQUE STOCK CERTIFICATE 1908
$39.99
quality
1907 Talmage Gold Mines Co Stock Certificate GOLDFIELD MINING DISTRICT NEVADA
1907 Talmage Gold Mines Co Stock Certificate GOLDFIELD MINING DISTRICT NEVADA
$195.00
quality
1902 STOCK CERTIFICATE Mashell COPPER MINING Washington
1902 STOCK CERTIFICATE Mashell COPPER MINING Washington
$45.00
quality
1883 STOCK CERTIFICATE Cincinnati Wilmington  Zanesville RAIL ROAD Co
1883 STOCK CERTIFICATE Cincinnati Wilmington Zanesville RAIL ROAD Co
$65.00
quality
Allied Mining  Milling Company Stock Certificate 1920
Allied Mining Milling Company Stock Certificate 1920
$9.99
quality
Juno Copper Company Stock Certificate 1926
Juno Copper Company Stock Certificate 1926
$9.99
quality
Gold Lake Mining Company Stock Certificate 1916
Gold Lake Mining Company Stock Certificate 1916
$9.99
quality
Gila Development Company Stock Certificate 1916
Gila Development Company Stock Certificate 1916
$9.99
quality
General Mines Corporation Stock Certificate 1928
General Mines Corporation Stock Certificate 1928
$9.99
quality
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Mining Stock

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MINING STOCKS Vs PHYSICAL GOLD & SILVER - Mike Maloney

Managing Risk In Property Development

Whether we realise it or not, managing risk is something we all deal with everyday. For example, the simple process of crossing a street involves a certain degree of risk which we manage without even blinking an eyelid. Imagine for a moment crossing a busy street without looking left and right, without gauging the direction and speed of traffic, and without gauging the distance of the street we are crossing. Thankfully most of us are very good at managing these everyday risks effectively.

But what about managing the risks of something as complex as a property development project? Well, whilst the risks are more numerous and greater in complexity there are still certain measures you can take to manage them effectively. Let's take a look at some of the more notable risks in performing a property development project and how you can manage them effectively.

Risk No. 1 - Not Having Enough Knowledge
By far and away the greatest risk in property development is the risk of undertaking a project with insufficient knowledge. I have seen it many times before where individuals undertake their first project with sugar coated expectations of how easy property development is only to find themselves in strife half way down the track because they were not willing to invest in knowledge. Many people will tell you that ignorance is bliss but when it is your money in the deal and your name as guarantor on the loan ignorance can be a very costly thing! So, how can you manage this risk and become more knowledgeable in property development? Well, there are three main options available to you.

Firstly, track down some quality property development books and acquire a comprehensive knowledge of the property development process. Secondly, with this knowledge you should then attend a quality property development workshop to sharpen up the practical application of your knowledge. Thirdly, having read some books and attended a workshop you should then be equipped with the necessary knowledge to undertake your own property development project. For those that lack the necessary confidence to undertake their own project it is possible to team up with an experienced property development manager to manage your first project. This way you can learn 'on the job' under the guidance of an experienced property developer and progressively graduate yourself into managing your own projects.

Risk No. 2 - Paying too Much for Your Development Site
There are few things worse than paying over the odds for a development site and being left with the prospect of bearing all of the risk and performing all of the work necessary to complete the project only to break even or make a tiny profit.

So how do you manage this risk and ensure that you do not pay too much for your development site? Well, it all comes back to the number crunching prior to purchasing the development site. It is absolutely critical that a comprehensive financial feasibility is performed prior to purchasing a development site. Given that a financial feasibility is only as good as the assumptions made in it, it is absolutely critical that you do your homework to ensure the accuracy of your assumptions.

As part of your financial feasibility you can calculate what's called a residual land value. A residual land value is simply determined by estimating the project's gross revenue then subtracting the various expenses (excluding the development site) and an adequate profit margin to leave the residual value of the development site. A residual land value will provide you with the maximum amount that you can afford to pay for a development site therefore ensuring you never pay too much.

Risk No. 3 - Purchasing a Lemon Development Site
Whilst we all understand the risk of purchasing a lemon car, few people realise that it is possible to purchase a lemon development site.

So how do you manage this risk and ensure that you do not purchase a lemon development site. Well, it all comes back to performing a thorough investigation of the development issues of the site, better known as a due diligence analysis. The due diligence analysis may be performed either prior to purchasing the site or as a condition of the contract. Either way, the performance of a thorough due diligence analysis should incorporate each of the following issues:

+ environmental and heritage issues (e.g. presence of vegetation protection orders, heritage listed buildings etc.)
+ flood issues (e.g. presence of a flood regulation line)
+ geotechnical issues (e.g. presence of acid sulphate soil, contaminated soil, underground rocks, underground water, unstable fill etc.)
+ mining issues (e.g. impact of mining subsidence)
+ service issues (e.g. proximity of services to site, capacity of services for the proposed development etc.)
+ stormwater issues (is there a legal point of discharge, if not are adjoining owners amenable etc.)
+ title related issues (e.g. presence of caveats, covenants, easements, encumbrances, interest details, administrative advices, unregistered dealings etc.)
+ zoning issues (compatibility of current zoning to the proposed use)

Whilst a development site with the necessary local authority permits in place will have overcome most of these issues, it is nonetheless advisable to investigate the various issues as a matter of course. A thorough due diligence analysis can be a rather time consuming process but given the cost involved in getting it wrong it is time very well spent!

Risk No. 4 - Construction Costs Blow Out
Construction costs are generally the greatest expense component in a property development project. As such, it only takes a slight proportional change in its cost to have a significant impact on the projects bottom line.

So how do you manage this risk and ensure that a blow out in construction costs does not destroy your bottom line? Well, the best way is to ensure that you use a lump sum fixed price contract. A lump sum fixed price contract is a contract where the price is determined by the building contractor which includes all associated costs such as materials, labour and profit margin. As the name suggests, the contract price is fixed from the day the contract is signed. The only things that will vary the price are variations to the contract or fluctuations in provisional or prime cost items. As such you should try to limit the number of variations made to the contract, and whilst nothing can be done to control fluctuations in provisional or prime cost items, it is possible to keep these items to a bare minimum when detailing the contract.

Risk No. 5 - Building Contractor Goes Bust
Perhaps every developer's worst nightmare! By this point in a project most of the hard work has been done and you could certainly be forgiven for having your eyes fixed on completing construction and banking the settlement funds. However, all of this can change in an instant if your building contractor hits financial difficulty and cannot proceed with the works.

So how do you manage a risk such as this? Well, whilst circumstances can change quickly in the construction industry there is certainly a lot to be said for using a building contractor with a good reputation and a proven track record. As a developer you should feel free to make enquiries into the building contractor's project history and financials. After all it is your money in the deal and your name as guarantor on the loan so there should be no reason to feel shy about asking for this sort of information.

Whilst there is no substitute for using a proven reputable building contractor, we are fortunate in Australia in that it is a requirement for building contractors to take out warranty insurance. During construction warranty insurance covers against the building contractor becoming bankrupt or placed into liquidation and against the building contractor failing to complete the works under the contract. After construction it covers against the building contractor failing to fix any defects and against the building suffering from the effects of subsidence or settlement. It is usual practice for building surveyors or local authorities not to issue a building permit until evidence that the building contractor has taken out warranty insurance is provided. Nonetheless, it is prudent that you ensure for yourself that warranty insurance has been taken out.

Risk #6 - Shoddy Construction Work
We've all seen the stories on 'A Current Affair' where the hard working Australian family put all of their money into building their dream home only to arrive on handover to something that is not only displeasing to the eye, but a danger to live in. Whilst these stories are very extremist they do demonstrate a very significant risk that if left unmanaged can be potentially disastrous.

So how do you manage this risk and ensure that you are not met at handover with shoddy construction work? Well, once again there is no substitute for using a proven reputable building contractor. For all of the work that goes into a property development project it is the quality of the construction on which your reputation as a developer can live or die. It is therefore absolutely critical that you do your homework on your building contractor. Always insist on getting the building contractor's project history including contact details for referees from previous projects. This way you can visit the projects and make contact with the previous developers to satisfy yourself as to the whether or not their workmanship meets your standards.

Whilst engaging a proven reputable builder can mitigate this risk to a large extent, you should not simply sit back on your laurels waiting for a phone call when construction is finished. I'm sure you would agree that it is better knowing if something is progressively going wrong and be able to rectify it than to find out at the end that it is beyond rectification. This same rationale applies to construction work and the process of performing regular building inspections.

Throughout the course of a property development project a number of inspections should be performed by various individuals. The structural engineer will need to perform inspections at a few key stages of construction (e.g. footings, slab, framing etc.) to ensure that the approved plans and building regulations are being followed. It is also advisable that you engage your architect or building designer to perform regular inspections to ensure that the works are being performed in accordance with the plans. Once practical completion has been reached you will need to perform a final inspection. By this point, the final inspection will be concerned with minor defects that will be covered under the defects liability period. Generally, the developer and either the development manager, architect or building designer will perform the final inspection.

Whilst the before mentioned risks are by no means an exhaustive list, it should however give you a feel for the more notable risks in property development and how you can manage them effectively. Given the high stakes involved in property development any mismanagement of these risks can prove very costly indeed. If you are not experienced in managing property development projects and don't want to learn the hard way than engage an experienced development manager to act on your behalf. This way you can reap the rewards of being a property developer without becoming another causality to poor risk management.Luke Andersen is a partner of Positive Property Strategies and co-author of 'Residential Real Estate Development: A Practical Guide For Beginners To Experts.'

Positive Property Strategies is an innovative property development business offering property development management, property development advice and property development education. To find out more please visithttp://www.propertystrategies.net

Article Source: http://www.simplysearch4it.com/article/50886.html
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