What do I do? “Free land”

[Jennifer Stradtman]

I live in the greater Nashville, TN area. My neighbor owns over 1,000 acres in the area. He usually sells it off in 20 acre+ tracts at $50k/acre. He has offered to provide the 20 acres to me to build houses to sell and just pay him for the land when it sells. I keep profit from the houses.  

There are many neighborhoods around here that sell for $1mm+.   there are listings nearby for small homes at $300k/ft. On 1 acre lots. 1742 sq. Ft. Sized homes.

This property is Road frontage and there is a 200 ft. Setback requirement. Only 1 house per 5 acres. There is a wide running creek in the property with some hillside. I could likely get 2 houses on this land. 

I’ve never done a new construction home before and have some resources but I surely don’t want to lose a lot of money on an expensive house. I could likely find at least 1 investor to help. 

Should I do it? 

Jennifer 

[Devan Mcclish]

If you've never built new construction before especially new construction like this where you'll need to put in the infrastructure system, say no. Find someone to sell the deal to and then tag along to learn for free