Raw Land Developing
Hello All,
I have purchased 40 acres in an area which is exploding in home developement. I plan to keep 10 acres for myself and sell the rest to a developer or even maybe look into having it developed myself. What would be the best way to locate and sell this land to a developer? I have made contact with a few but no bites. Across the street a fairly new addition has been developed with lots selling anywhere between 30-50k for an acre and the houses being built are in the 200k + price range. I feel there is alot of potential here but dont how to get started. I really dont have the funds to develope myself right now. Between purchasing the land and building a new house myself has left my hands tied and I would hate to see the opportunity slip by me. Does anyone have any ideas on this?
Thanks,
Okiefarmr
[ Edited by okiefarmr on Date 07/15/2005 ][ Edited by okiefarmr on Date 07/15/2005 ]
Thanks Nancy for the insight. I am wanting $8,000 per acre undeveloped or once improvements ( road, water, electricity) are made I will be asking about $25000 +. I would be willing to give terms if they are fair ones.
okiefarmr
development margin is added to the developed lot.
raw dirt + hard costs + soft costs + profit = retail lot sales amount.
Shawn,
Call me at my office. Look me up at Security Financial Enterprises. 180 North Westmonte in Altamonte Springs. I have a partner who has opened clinics in Florida. We are located in Altamonte Springs. Send me your contact info, and maybe we can meet and put something together. We are currently working on some projects in downtown Orlando, Mt. Dora, Ocala, Daytona Beach, etc. Look forward to hearing from you.
Rafael[ Edited by rafael64 on Date 07/30/2005 ]