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Updated over 5 years ago on . Most recent reply

User Stats

44
Posts
8
Votes
Hunter Perkinson
  • Fredericksburg, VA
8
Votes |
44
Posts

How to partner with a land developer

Hunter Perkinson
  • Fredericksburg, VA
Posted

Hello BP family,

I am a rookie to the game but looking to get started in a big way. I want to develop my family's land that I have inherited. It's not all mine, parents and sister share ownership but are fine with me doing this and splitting the profits. It is lake front property on about 40 acres. I want to subdivide it, build houses, and sell them off - create a subdivision. Because I am a noob, i have met with a local developer who has a history of developing subdivisions on the lake. 

I am curious as to how I should structure the deal with him. He mentioned not charging anything for setting up everything (permits, surveyor, soil test, etc) so long as he gets the listings where he would want 10%. I'd still have to pay for the permits, surveyor, etc but he has the connections and knows the process obviously. 

I also want to know the best way to bring in a builder on the project. It seems like I'd be leaving money on the table if I didnt partner with a builder to build the homes. 

So just looking for general advice, what questions I should be asking, what are some good books or podcasts, etc. 

Thanks in advance!

-Hunter

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