Missoula, MT · Member since 2012 · 101 posts · 13 votes
How would you creatively finance these 23 SF approved lots? Seller financing is also available. How can I use seller financing to my advantage?
What are the main things to check with county before/during building?
Have you networked with people on BiggerPockets, for private money/hml, to develop a subdivision like this?
Who are the main people to network with, to bring a deal together?
Again I wish I could tap into Rich Weese's knowledge, like an upload from the Matrix...lol! I do recall him talking about a deal kind of like this in his book, where he talked developer, or builder into building a home similarly priced to one his friend had built in the subdivision.
Rental Property Investor · Greeley, CO · Member since 2017 · 226 posts · 99 votes
9y
Check with the local authorities either before you go under contract or during the due diligence period. I recently heard of a big deal go bad because the town was out of water and refused to allow the builder to build until they purchased water rights for the project. Lots were already plotted. The local planning and zoning commission would probably be a great place to learn everything you need to.
As far as financing, what is the seller willing to do as far as financing for terms? Without knowing your cash flow issues one of the big hurdles I see when I finance developments is that the developer or builder has to make monthly payments for a while before they get their first home sold and can generate cash. If possible will the owner carry with zero payments? Preferably zero interest as well. If he insists on monthly payments I would try to negotiate them down to as little as possible.