Developing Land and Subdivision

[Ryan Stumbo]

So, I recently bought a townhome with about 5 acres of property surrounding it. My banker was telling me I’m “landlocked” . The way he described it, I really didn’t have any rights outside of owning the townhouse. Before I put the townhouse under contract, the guy who owns all the surrounding land puts up the land for sell. I decided to buy all the surrounding land once I was informed by the land owner that he had already had the land approved by the county to be developed into a subdivision. I’m still going to have a survey to make sure all the land lines are correct and confirm with the county it’s still allowed to be subdivided, but if everything checks out, how should I handle this. Is it most profitable usually for someone to subdivide the land and sell each plot that way? Is it most profitable to develop it for businesses to be placed on it? RV park? Keep the land and put my own duplexes and apartment complexes on the land? I just feel like this could be a sweet deal for me and I want to go the route that could impact my life the most and create the most long term wealth for myself.

Any advice is welcomed especially from someone who has bought land and developed it before.