New home development strategy

[Kevin WANG]

Hi Folks,

I was sending message to Rich Weese and seeking advice about new home development strategy. It might be a better idea to post it here so everyone could share and exchange ideas. Here is my message:

[/u]Hi Rich,

I am an owner of distributor company. I am thinking to do real estate investment and building new homes is one of my options.

I had been reading your excellent postings in BP and learnt a lot.
Here are my questions:

Question 1:
How did you find good deals on building lots? Your new homes investment in McAllen, Texas is very successful. Did you live there for a while and found this deal?

Question 2:
How to choose location? Your lot in McAllen is very cheap but how about schools, local employment, neighborhood etc?

Question 3:
You have projects on different locations. How do you manage to monitor each project? If you are new to the town, how did you find reputable general contractors or sub contractors without supervise them?

Thanks!

Kevin Wang