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Updated about 3 years ago on . Most recent reply

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Gabriel Fairman
  • Investor
  • Honolulu
5
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20
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I want to be a developer

Gabriel Fairman
  • Investor
  • Honolulu
Posted

The margins don’t make make sense anymore for me buying single families. Everyone is overpaying in my opinion. I want to buy the land and build 6-10 homes in a community. Anyone here looking to do the same thing?

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Matthew Paul#1 Contractors Contributor
  • Severna Park, MD
7,474
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Matthew Paul#1 Contractors Contributor
  • Severna Park, MD
Replied

You better have deep pockets . You need to buy the land , hire an engineer to subdivide , hire someone to clear , install water and sewer , roads , curbs and sidewalks . Depending on your area this could take 1 year , or 10 years . When you are almost done , neighbors will challenge the project and you spend a year in court plus fees . Dont forget the political donations you may have to make to get things done . 

10 plus lots , you are in competition with long time players . Who already know the game .

Look for single lots , fast and simple 

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