Joint venture with developer

[Jairus King]

Good afternoon BP!

    I have an opportunity, but this isn't my typical area of expertise. I was looking for ways to educate myself, but couldn't seem to find much on the topic. I have a property that is a dump sitting in a recently built subdivision. The home owner pretty much wants to give up the property. I can't figure out how to structure a deal in which perhaps a builder would tear down, build a home similar to the new ones in the area and split the proceeds. I realize perhaps I could buy the property and pay for the build myself, but then I would broke the cardinal rule of tying up my money in 1 deal..... SO … I guess if anyone has done this before and is willing to share their experience I would love to hear it.