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Updated almost 8 years ago,
How should I structure this?
I am finalizing the deal but I will soon have over 100 lots to build on. I have talked with several people about partnering with me on multiple things. There are a lot of opportunities in this deal but I have some questions. Let me explain. The area is unrestricted (outside city) and I can build homes or put mobile homes on these lots. I will need to install well and septic. Since this is somewhat rural, yet within 30 mins of a major Texas metropolitan area, I was considering building some nice barndominiums because that's kind of a hot thing here in TX. There is a builder that can partner with me on that. I also have some private investors who are interested in partnering with me on either the cost of land acquisition or some of the building projects. This land is already platted and grandfathered in so that I can get exemptions for the 2 acre minimum requirement to install well and septic as long as required distances are met. My question is, how should I structure a partnership with a builder to build on the land that I will own? We will be selling the homes and splitting the profits. I am a licensed real estate agent. Also, I would like to hold some of the lots to either owner finance them or put more homes or duplexes on to keep as rentals for passive income. Any tips on structuring partnerships for the rentals? I have some real estate attorney friends that I can get to help but I thought I would pick the brains of some of you here that have experience with deals like this. Thanks in advance for any help!