All Forum Posts by: Christopher Bennage

Thanks @David Cruice

A follow-up question when partnering with a developer is, what are reasonable terms?

For example, would the below fair/standard?

• the investor provides seed money for construction (20-25% of the target sale price)
• when the house is sold, the profit is split 60% investor and 40% builder
• seed money is paid back to the investor before calculating profit on the sale
• assuming that the property is owned by the investor and ready to build on

@Kevin Martin thanks Kevin, I appreciate it.

Hello,

First, my experience in real estate is currently limited to a couple of rental properties. So I consider myself a beginner.

I have an opportunity where an old friend of the family, in his late 80s, had started to develop a 9 lot subdivision. He cleared the property and had an engineer draw up plans, but then decided he was too old to start a new project. He offered the land to me at cost, along with his counsel.

I also have a connection to a local contractor with a good reputation, a positive history of partnering with investors, and knowledge of the area.

I'm cautiously optimistic, but I realize that I'm ignorant. I am already seeking out experienced advisers that can help me evaluate and plan. 

However, what resources do you recommend? Are there books, videos, blogs, etc?