Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Land & New Construction
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 3 years ago,

User Stats

14
Posts
2
Votes
Mel Locke
  • Bellingham, WA
2
Votes |
14
Posts

Townhouse Development

Mel Locke
  • Bellingham, WA
Posted

I originally joined BP to learn how to make my property more attractive to potential buyers/developers and in a Pygmalion like twist, I am now contemplating developing it myself. 

The city has turned surprisingly builder friendly, the land is paid for, I will have a large cash reserve to pay for some of the upfront soft costs.  This should make the land more attractive to lenders when it comes time to borrow the big bucks.  In theory it shouldn't be too difficult to build, the land is flat, new housing development next door, utilities are at the road (yup, I know it's expensive to drag it out). Big demand for rentals.

Negatives, I am a newbie, it's in western WA, so it won't be cheap or easy (even with the city's change), all the issues that come with new construction, which is exasperated by the size of the project. 

Would like any thoughts or ideas, all criticism is happily welcomed. 

Some questions, I am getting a bid done for some site work and I have talked to a architect/GC.  I will continue to talk to all manners of people in the business, but is there anyone I should be really seeking out, other then other builders to get their prospective? I have talked to some very friendly and helpful city workers. 

Sorry for the long post, but if it matters: zoned mixed use/townhouse, when it was zoned sfr could get 60+ lots. The land is located in one of the fastest growing cities for the state. 

Loading replies...