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Updated almost 8 years ago,
I NEED Your help - 1st property development opportunity!!!
BP Family I NEED your help. I have the opportunity for my 1st small development deal and I have never done one before. I need your mentor-ship, advice and possible joint venturing capital for the right people. It is 22 acres in a great residential area that I can buy for a very inexpensive $300K
A little back ground on me: My wife and I have been investing for years but all small single family fix and flips, buy and hold, BRRR etc. We only did 2 deals last year, one fix and flip (Lease option sale) and one buy and hold, and currently have 5 properties including our residence. So we are not big timers YET.
Now I have the opportunity to buy 22 acres in a great residential area and develop it. I haven't purchased anything this big and have never developed land into a neighborhood - please help. I only have about $11K that I can access quickly without reaching out to other investors so please tell me how you would do this, what do I need to look at, what are the pros and cons of developing.
Thanks in advance - you guys are awesome.