Strategies for working with landowners to partner on development.

[Corey Meyer]

My investment Portfolio is in Big Sky, Montana.  I actively invest and manage STRs here and am looking to grow my portfolio.  The most challenging aspect of investing here (besides high prices) is that there is very little inventory as Big Sky is one of America's newest cities.  There wasn't a single home here before 1968!  Since the city itself is just being built there are very few options for me to increase my portfolio of buy and hold. 

I am seeing a large increase in demand for STRs here and am contemplating developing solely for the purpose of creating a perfect STR. I am not a developer but I believe it is in my wheelhouse. I have colleagues that are Architects in Bozeman, mentors in Big Sky that are developers, and I am connected to most of the pieces of the puzzle for developing a lot. However, I don't have the capital to buy a lot here, only enough to build.

There is a lot in town that is For Sale by Owner.  Is there a way to pitch them a partnership long term Buy/Hold?  The seller might potentially be interested in partnering and making a greater return on their investment by developing their lot....?  

Thoughts? 50/50 Split?  

Corey