Closed on some dirt to develop SFR and sent docs for permits3.

I live in a semi-rural area outside a medium-sized city, and I see a parcel for sale that would be great for a chain restaurant (a sit-down place). I have no interest or expertise in running or managing a restaurant,...

The local newspaper said Portland down 4% year over year but somebody on BP posted something saying down 1.6%.Our apartment market is on fire and large new developments are filling as fast as they can build them.We have among the lowest vacancies in the country with 3.1% in apartments.Cap rates went from 6.1% in 2008 to 6.8% in 2009 and 2010 and 6.86% for first half 2011.Housing prices down 28% from peak August 2007.

Your donations are always plowed right back into site development.3 - Join us at the BiggerPockets Real Estate Investing Summit 2012. 4 - Tell your friends about our site via email and your other social networks.5 - Share our articles, forum threads, and other content on social networks.6 - Be an advocate.

If you have the money available, maybe you should offer a large EMD when you do make an offer through her--that might get your offer more attention.If there are only two REO listing agents in your town that could be a positive for you--you can develop a rapport with both and come to understand how they like to do business, maybe they will give out the codes once they trust you.

I have absolutely no experience in developing.

It is geat to hear you are focusing on developing a business plan, learning and networking before risking you hard earned money.

It presents an opportunity for you to generate additional revenue.

Don't like this one either.Other investors on here that have posted similar situations ended up selling for less because they tried this strategy.I would go for the second strategy and close it and move on.If comps start tanking in that development which you cannot completely control you need to find another area to rehab in.

Removing emotion from the equation will help you develop a more pragmatic approach.