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Updated over 2 years ago on . Most recent reply
Landowner/Developer partnership NEWBIE
Hi first time posting to biggerpockets I have listened to a couple podcasts but know very little when it comes to real estate.
My current situation is I own a property in a rapidly developing area that we have had on the market for several years, its farm ground that has exploded in housing around it. We are not in a rush to sell it which is why it probably hasn't sold in the last couple years as we are asking quite a bit for the entire property. I was offered an amount which isn't quite as much as we want, however I know the buyer personally and they are going to develop the land into multifamily housing and it got me thinking that maybe I could sell at a lower price and in turn I would be given some sort of credit/discount on one of the multifamily units that he will be constructing within the next year or so. I have always wanted to have several rental units and I feel like this may be a good opportunity to achieve that. Any advise or ideas would be greatly appreciated. Thank you.