Three lots in Howard county, Maryland

[Sandra Holt]

I am in the very beginning stages of negotiating for three adjacent lots in Howard County, MD for a new construction development. There is a new construction neighborhood on one side and these three lots are prime spaces to put about 12 to 18 houses on. The problem is that I have no experience doing this I was hoping that someone could guide me on my options here. I understand that I could buy the lot then wholesale them to a developer but I would really like to put some spec houses on them myself. However, I do not want to go in over my head. I currently have two rentals in Howard County and have never develop land so if someone could walk me through this process or even partner with me, I think this would make the most sense. If there is someone in Howard County area that I could speak with about this, I would really appreciate it. Or if there is someone that can give me general advice on buying lots, doing a teardown, and putting spec houses on them, I would also appreciate that. Thank you BP community!

[Chris Seveney]

Sandra Holt
Make sure you are fully aware of the impact fees associated with developing in Maryland. They can go up to about $75k per lot I believe. I am not familiar with Howard county but make sure you know what your getting into as it relates to fees and building requirements (sprinkler systems, energy code etc).