80 Acres for Under Million (HOW DO I FIND AN INVESTOR)))

[Dan Thow]

I have found a property in Idaho that has a house and 80 acres. My goal is to in the end own the house and 20 acres and do so by subdividing and selling 60 of those acres. The land is already divided into 20 acre parcels and can be taken down to 5 acre parcels. I have called the local land surveyors to confirm this, local fire department to check fire requirements, and county planning to confirm this would work. All checks out. Just needs surveyed and a new plat made for the 5 acre minor subdivisions of each 20 acre lot with 20 foot wide dirt roads going off the main property road to the individual 5 acre parcels. So there'd be 12 5 acre parcels when done and each should sell for an average of about $300,000 and I think some can sell for more. The main property has 270 degree lake views and is located about 40 min from one of the most moved to places in the country. If each 5 acre parcel sold for $300,000 that'd bring $3,600,000, providing good profit to the investor after paying the original cost. I am self employed, determined, passionate, and hard at it, I'd be willing to do all work needed to subdivide this property. My hurdle is I'm 22 and though I have done excellent in my stock and crypto investing I do not have 3 million to buy the property. The property is listed for $2,970,000. Sounds like I could have all the lots sold in about 2 years but hard to say.

How do I find an investor before this place sells?

What do you guys think?

Much appreciated,

Dan

[Jay Hinrichs]

Originally posted by @Jamie Derasmo:

Hi Dan, it’s good that you did your due diligence with the town about those issues. Did you also make sure they are all buildable lots? I don’t know a your specific codes but if wetlands are present on the property, there are setbacks and other rules to follow which could make some lots lose their value. I also was not sure about the prices you wrote. In your title it says under million, but at the end it says about 3 million. I guess I assumed it would be under 1 million. It doesn’t hurt to have a conversation with an investor, find out what their criteria is, but make sure you get all the information about the suitability of each lot before making any hasty decisions. Sorry not much help in recommending to find an investor.  Are you part of a local investors group? I’m in a few for my area on Facebook and it’s a great place to meet investors, vendors, and lenders.

3 mil purchase to make 3.6 over time is a money loser all day long.  U need to buy this for 1.5 to max 2 to make any money if your going to bring on debt.