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Updated over 5 years ago,

User Stats

7
Posts
1
Votes
Fernando Ramirez
  • Dallas, TX
1
Votes |
7
Posts

Help!Purchasing 2-20 acres to subdivide into multiple resid. lots

Fernando Ramirez
  • Dallas, TX
Posted

I am working with an investor(family member) & partner(friend/RE Agent who owns 15 rental properties, flipped apprx 20 properties over the last 3 years with partners). 

We are all bringing $ to the table (collectively $130k) 45/45/10 split

Our goal is to purchase 2-20 acres subdivide into 1acre residential lots and build spec homes.

We've looked at 20 acres ($200k) in Terrell, Kaufman, County, TX and 6 acres ($160k) in Princeton, Collin County, TX. Both owners will entertain carrying note for 24-48 months. Both land sites have utililities (electric/water)

What questions should I ask the city/county when I call to inquire about zoning and r-plotting? Trying to do some of the leg work without bothering my partner.

All advice and guidance is greatly appreciated!

About Me:

1998-Purchased first property @ 18yo(currently owner financing)
2001-2nd house in 01' @ 21yo - sold in 2016
2009 purchased incomplete construction home for $70k & sold in 16' for $170k
2016 Built 2300 sqft home built (used builder)
2017/18 flipped a mobile home ($65k invest/$120k Sale)
2019 First wholesale deal $10k payday

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