Wholesaling New Subdivision Land?

[Ryan Biankowski]

Hello all, 

I've been researching real estate for over a year now and I'm ready to dive in.  Looking for personal experiences and stories about wholesaling new subdivision land.  

A colleague of mine recently told me a story about how he made 8 Million dollars from 1987-2007 (lost some of it during the market crash).  He talked about how he used to be a construction worker in new subdivisions and kept seeing lots being bought and sold at alarming rates.  He decided to buy the nicest lot in one of the subdivisions after putting the loan against his home.  He said within 2 weeks, a builder approached him to pay double for the lot because his clients were willing to pay for it.  

He continued to do this for 20 years until the market crashed and just kept building and building more wealth.  Obviously there are trials and tribulations as well as risks within any investment en devour, although this strategy is very intriguing to me.  It seems fairly straightforward as long as you do your research on the market.  

Would this work today?  Looking for any and all feedback.  

Thank you,

Ryan