Land Development Deal

[Jonathan Fredholm]

Hello all,

I have recently come into some land and after some research, have found that the land is in a MDR (medium density residential) zone. Allowing for a 6 unit building to be built in place of the existing single family home that is in need of tare-down.

I’m reaching out, to chat with someone who has some experience working on or putting together a land development project and might be able to provide some insight on best practices and strategies for a smooth project. I am familiar with pre-existing multiple properties, but haven’t done something of this scale. Thank you in advance for any help and suggestions. Please feel free to PM me if you need more details.

[Henry Clark]

Do you have the funds and financing to cover a project of this size?  Say $1.5mm not including land.  Plus interest during construction and rent up?  

If you don’t sell the land.

Go into partnership but you lose control and open yourself up to financial exposure.

Develop yourself.  1.  Get a set of plans and cost estimate just for the building.  2.  Have a local engineer draft site plans and utilities laying in the building.  Get cost estimates from the two engineers.  

Then find a general contractor