Need Advice on Development Land

[NaDean Bowles]

Today I began talks regarding a large piece of land that would be perfect for both commercial development on one side and a subdivision on the other. Discussions of seller carry back were batted around with the sellers' approval. Large commercial properties are on my board. The board that plans out my future/vision board if you will. I could move the timeline up certainly. My contractor is beginning a development next year but isn't locked into it yet as of the last we spoke. This would be bigger and I think it would be more up his alley. There is one person in our REIA with pockets deep enough to finance this but a handful who could go in together and get loans on it.

Where do I begin?  I've never tried to climb an elephant quite this big.  What development specific questions do I ask?  I've already ascertained utilities and roads.  I've gotten information about the developing area.  I believe permits and permission from the city would be able to be acquired.  I've built some rapport.  What sort of deal structure should I attempt to try to get the bill down into manageable bites?  Literally, any and all advice would be appreciated.  Thank you!