Trying 1st Ground-Up Construction, advice on legal- securing site

[Sean Ruggiero]

Hi, I am trying to do my 1st ground up construction project which is an 8 unit cluster dwelling in a hot market in South Florida.

I was able to put the opportunity together by combining 1 cheap off-market tear down deal with 1 on-market deal. It is a very premium location in a beautiful Fort Lauderdale neighborhood close to the water at a price where the numbers really work well. I have seen profitable new construction projects here already be successful, and I have a unique angle on setting this up. I have run the numbers, looked at zoning, etc. etc. etc. and I believe it can yield between a 1 to 4 million dollar exit depending on construction strategy.

Just to clarify, I am ok with giving away some of the deal, I am even ok with giving away MOST of the deal. Shoot I was even thinking of giving away 85% of the deal just to learn and get in the game. I would just like SOME level of protection while taking this quasi-off-market deal to strangers to look at given that once they have the information they could cut you out easily. A good person wouldn't, but, many people would.

I thought about how I could pretty easily get both properties under contract, but I am not sure in a hot market how long the owners would let me hold them for, and I would need time to coordinate everything. I am thinking something like an NDA form or a Non-Compete agreement. I spoke with a builder broker in the area who was REALLY interested in meeting me and asking me for the addresses but as soon as I brought up signing NDA/Non-compete he never replied. 

How do you guys think I can/should put this together in a way that can be both something I put out there and make available to interested parties, but also protect the fact that I put all the work into figuring out how to package it up and make it work in terms of financing, zoning, constructing, etc?

Thanks everyone, really appreciate your input!!!