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Updated over 3 years ago,
Your feedback re a potential Real estate development project
I live in the Caribbean (the Commonwealth of Dominica). I would like to purchase large parcels of land and develop them to sell smaller residential lots. That development would involve putting in better road access, utility connections, road network, etc. I am a real estate agent. I went to view a parcel of land and the owner expressed willingness to partner with me to do the development. I am really not sure how to structure that arrangement. This arrangement would mean that I will not have to spend on purchasing the land. Here are some key activities to be done:
-the road works
-survey works
-marketing
-sales
-some civil works (a small bridge is required)
I am wondering what costs we should share. He does not seem to have much cash available. I can get financing to cover the list above. This is my first time doing this so I am not even sure how we should split the proceeds of the project.
Thank you in advance for your input/feedback