All Forum Posts by: Stan Minkinow

2. You need to have enough money, probably in the $100-150k, amount to put the property under contract, and do the feasibility study on the property, Phase 1 Environmental, Property Drawings for roads, water sewer, and utilities, and have a completed budget so you know what your costs are.

At that point you can go out and attract investors, I don't thing that developing raw land is necessarily cheaper than buying discounted finished lots. Completed lots with Concrete roads, and water and sewer are costing more than $70,000 per acre in development cost, and are yielding 3 lots per acre, Combine development cost with prime land acquisition cost of $70k/acre, and your lot cost is over $45k/lot.

My recommendations for you,

1. Get your real estate license, this way you have the tools to evaluate properties.

2. Get a job brokering land deals, this way you get paid for what you want to do.

3. Start investing in cash flowing properties, like duplexes, triplexes and quadplexes.

Thanks,

Dustin

Thank you, sir, for taking the time to reply! Your advice will certainly be put to good use.

0 Votes

Gulf Shores, Alabama

Quote from @Jonathan Greene:

I think saying the post is naive multiple times is naive. You said multiple times you don't have any real experience to do what you plan to do, but also you want to find out how to get money to do that? It's not adding up to me. You are making a large ask way too early.

Perhaps I was... naive? I am certainly asking for a lot, that much I know. Realistically I am just searching for direction. Working on the wholesale team of a large homebuilder taught me that capital is available if the deal pencils.

I am not asking for somebody to hold my hand in creating a deal.

I've got one year of school left, which has set off two alarms in my head:

1. I am the most risk tolerant I ever will be.

2. I need to network and find a position in Real Estate.

Though it was tough feedback, I certainly appreciate you taking the time to reply.

1 Vote

Gulf Shores, Alabama

Hello all!

First off, I want to thank each of you for taking the time to nourish me with wisdom! Resources like this website and your contributions are incredibly valuable to guys like me!

Now for the good stuff -- my naive proposal.

I am a college student graduating in May of 2025. I have worked in wholesaling and portfolio management with a top 10 homebuilder out of Houston, TX. This experience was great and opened my eyes to the world of Real Estate. Mainly, I found that I wanted to pursue any and all opportunities on the side of acquisitions, wholesaling, and BFR communities.

While finishing up my studies, I am attempting to put together a development that I could pitch to connections I have made and (hopefully) will make in the future.

Without any real experience -- I have decided to attempt the process with the goal of getting to the point where I have a solid pitch-deck.

I am looking to acquire raw land and develop it into an RV / microhome community, including construction of the homes. I understand it is inherently riskier to develop raw land, but I learned that the reward is significantly lower lot cost and higher margins. I believe America is in the midst of an affordability crisis and giving prospective homebuyers more options could be both ethically rewarding and profitable.

Similar developments exist on the Gulf Coast, but I believe there is still an opportunity for expansion in this area of Real Estate.

Comps look great (250 sq. ft. homes ~$500,000). However, comps are heavily amenitized -- something I think I would stay away from in the name of affordability.

Ultimately, I would love to end up with a community of 20-45 microhomes, with a retail price of around $150,000 each. For such a community, I think pickleball courts, walking paths, and dock access to local waterways would serve as enough incentive to attract homebuyers but not incur high HOA/increases to retail price.

My most major question is, where do I go from here? If I had a rough checklist or something I could follow, I truly believe I would find success. I know this is a big ask and very naive.

As a spiritual man, praying for a good mentor, a great friend with great advice, and wisdom.

Respectfully,

Stan Minkinow

0 Votes

Gulf Shores, Alabama

All Forum Posts by: Stan Minkinow

Stan Minkinow has started 1 posts and replied 3 times.

Post: Looking into developing a "Tiny Home" / RV Park Community

Post: Looking into developing a "Tiny Home" / RV Park Community

Post: Looking into developing a "Tiny Home" / RV Park Community