Developing raw land is best left to experienced dudes with deep pockets in my opinion. Depending on the situation, you should have millions available to you before you start, also keep an eye on timeframes that drag on, govt. red tape, small minded politicians, as accruing interest can slowly kill you and if you're not prepared for lots of hurdles developing land will take you down if not planned for.
Another thing that many developers overlook is the ability to get people onto your way of thinking fast, along with being a good people person, because you may need to guide someone do something for you that they may not be keen to doing, and you absolutely cannot be someone who burns bridges. Having enemies in high places will kill you fast.
So you need to start with millions in reserve and make sure that no one has a bad thing to say about you........easy as pie huh????
There is a lot of money to be made if things go well, but you may need some sleeping pills to get you through the night when things go sideways and millions of dollars are on the line......Developing land is not for weak minded amateurs for sure, and there are lots of safer, easier ways to make money. That's why I say it is suited better for senior investors or that special person that has the skills to manage everything, and are used to dealing with numbers that have a LOT of zero's behind them. :)
