Real estate development is a broadly defined concept in the real estate industry. It is different from being a real estate agent or even purchasing real estate for resale.
Development means that changes are done to the property to increase its value on some level; whether upgrading the utilities, correcting cosmetic flaws, changing the buildings usage, or even purchasing raw property with the plan to turn it into the next shopping center, apartment complex, or skyscraper full of office space in your neighborhood or city.
For me to be successful in real estate development, it helps to have a business plan. A business plan is a document that has details on how you operate. The plan defines the properties looked for, who you work with, what is done in property, what is contracted out, how different properties are given a facelift, and so on. Many developers work on several projects at once, so having a detailed plan for each project, may be helpful to ensure that each one is on the right track.