Residential Land Development

[Ryan Prichard]

Investment Info:

Single-family residence other investment.

Purchase price: $550,000
Cash invested: $300,000
Sale price: $1,300,000

We're building a new land development for future residential home sales.

What made you interested in investing in this type of deal?

Looking to build new inventory and business for our sales team.

How did you find this deal and how did you negotiate it?

My builder reached out to sell a project to me.

How did you finance this deal?

Commerical development loan.

How did you add value to the deal?

CMA of land sales in the area. Then accounted for all budged items to build the development and future sales prices.

What was the outcome?

Listings will go live this month.

Lessons learned? Challenges?

Learned to price a development, to work with engineers and time management of a project of this scale. I've encountered delays I'll be more ready for next time.