Land Developers? new construction?

[Bryan Chuchta]

Does anyone take large plots of land and build new houses/ condos/ etc, in the Raleigh area?  It seems most discussions are taking and making the old new again.  Does anyone work with new build options?

[Jay Hinrichs]

I don't know about Raleigh  I do it in Portland Oregon market .

I looked at some bigger plats in Charleston area.. and determined I would get killed trying to compete with DR and Lennar..

so we stick to infill where they don't play..

In Oregon I have been fortunate.. DR and Lennar basically will only buy ready to build lots.. so I have a few larger projects in the works.. 92 lots and 164 lots.. that they swear ( pinky Swear) they will buy from me when I get them shovel ready.. 7 to 10 million dollar risk and they could say no if they don't like what the market is doing.. the 92 I am going to do if they don't buy it I will build it.. the 164 I have to flip or I will not exercise my option at walk away from about 250k in cash I Have in it presently.. but that's the land game .. big risk big reward.. if the 164 goes right I will make about 4 million on  the same 250k invested.. roll the dice right ???