Need Help...bird Dog Or Partner?
I live in an rural area, that is being built up because of easy access and soon to be even easier access to 2 major metropolitian areas.
I have TONS of connections with realtors/builders/developers because of my current sales job (selling advertising to them). I have been wanting to do more investing in my area as I know values are going to continue to grow...but I have little or no capital.
I have had a few conversations with a developer/builder that I have known for years and trust. He recommends buying raw land/lots in my area and holding for some time (1-2years) and selling...or having spec homes build on them with him as a partner.
I do want to move forward with him in some way, but I know so little about raw land, sizing up a good lot, perk testing, etc...I would need his expertise in this area.
What is the best way for me to work with him so that I can make money, he make money and I can gain experience and capital in the future.
What I offer is unlimited ambition, sales/marketing savy, good old man power to find good deals in the right areas.
Any suggestions...bird dogging (how should I structure an agreement with him?) or partnering with him on lots (using a line of credit and holding and hoping to be able to make my payment until exit).
Any help or ideas are appreiciated.
What area of US? How much of investment are you looking for?
I'm real close to the Pocono Mts of PA...and I can get lots for as little as $10k (looking to sell in 1-2 years for $30+) or get larger parcels of land for more...with a bigger payoff. I'm just trying to figure out the best way to get in and keep going.
When you say lots are you talking 1/2 acre, 5 acres, 1/8 acre? Also if you plan to build on small lots who will pay for sewer,roads etc (if required by your county) you or builder?? I'm fairly new to this as well, and would be interested in finding out more about this myself...