New Project Development/Houshton GA

[Jack Moreno]

A buddy of mine lives on a 20 acre plot  of land surrounded by subdivisions. I just got him into real estate investing.  He and his wife will be empty nesters in 3 years. My question, does it make sense for him to look at developing his plot of land into a small subdivision having no experience? Or should he sell the place as is? Round numbers- Pd $675K owes $300K he figures it’s worth about $1mil. I would have to figure that he would make a lot more money developing the land around the current house into a small subdivision , but with no experience and the need for capital for the development, is he better off just selling outright?