All Forum Posts by: Sam Eligwe

@bryanHancock

You sound experienced! That should have been the my first thought. Man I love this site!! It allows knowledge to spread quickly and easily. I will start by seeking out credible developers while simultaneously trying to a line myself with a "mentor" or a veteran that's experienced who won't mind hand holding initially. It's very difficult to find someone who is willing to extended time and effort into someone else's life let alone their business. But either way I need to press forward and stay positive. Thank you @bryanhancock for your knowledge.

Thank you Ned Carey Rich Henry, III J Scott You all have presented some additional objectives not covered in my initial research. I would love to work with a mentor that can help guide me through the process. Perhaps I should speak to developers? I do expected this to be a learning experience throughout. I just need knowledgeable people like you guys in my corner giving positive reinforcement. By the way, Happy Fathers Day to you and yours!!

Hi all,

I need help figuring out this process from beginning to end. My mother just inherited a small piece of land. It's 4 - 4.6 acres located right outside of Washington, D.C area. The location of it isn't as important as the process we are about to embark upon.

She was considering selling it to someone else but luckily she spoke to me about the land and I suggested that she be patient and we try to see if we can work with a builder to perhaps create our first ever residential subdivision. The land is already zoned residential. But I have no experience developing a residential subdivision. I know this is a long haul process and I am not afraid of this opportunity. Here are a few questions I had....Please feel free to add more commentary if there are questions I did not ask that I need to know.

So out plan is to work with a well known builder who can come in a help with development.

How do I reach out to a Toll Brothers, M/I Homes D.R Horton, Beazer etc? Will they consider working with us and what are a few of the requirements they will need?

In a top level organization such as the ones listed, for something like this, who would be the point of contact I would need to reach out to?

What are the steps involved in developing a residential subdivision?

Will there be any upfront cost for us, since we own the land outright and we want to work with a builder to to develop the subdivision?

I love to read.......What books, articles, or websites do you recommend?

What steps have I overlooked?

Again I am willing to work. I know this is not something that can happen overnight but I believe in my capabilities I just need a little guidance.

Thank you Brandon Turner I will visit the link now!

Thank you David Beard I read you very detailed response and I am formulating a plan to execute. Thank you !!!!

I am a Realtor in the Washington D.C area. My expertise is Residential Real Estate. But as of lately I've been doing tons of reading and research and I really would like to purchase my first multifamily investment. I don't want to start with the 20million dollar 50 unit estate. I want to start small (4 - 10 units) and work my way up.

Where do I start?
Also what are some things I should consider if I am looking for an Investor?

I am completely "Okay" with not making much if any on the 1st investment. I feel like the first one will be my stepping stone to learn the process and in's & out's of the business. I understand the language I've done some case studies and I've looked at properties on LoopNet and I still believe there is more I need to know about. ALL HELP IS WELCOMED!!

Cheers!!