Hi,
I have been involved in rehabbing on a small scale for quite a few years. Currently, my wife and I are considering developing a small piece of property for new construction (something with room for 6-12 houses). I know how to buy and sell property and how to build, but I don’t know where to start with this type of project - what to look for in property, what legal considerations, financing options, etc. etc. Does anyone here have any experience in this area or know of resources that you can point me toward? Thanks
Ron
what state are you in? Is the land “broken in” or is it raw?
I am in Florida and do not have property at this time. I am looking at property in several areas, even outside of the US. My main interest is in a small subdivision (6-12 homes) that would appeal to a specific market - environmentally fiendly, non-toxic homes in a setting that promotes community. I would like to find an appropriate site, subdivide it, and build one house for a model, and then have several options to choose from. Where can I get more info on the procedure to do this and all the considerations I need to keep in mind? Ron
I have a similar idea but I don’t really know how to get started. I own 1.5 acres in pittsburgh and I would like to build and sale at FMV. All the utilities are in place and the land is zoned for residential property. Any and all ideas would be appreciated.
Are either of you a builder/general contractor? If not, start there. Since your land is “broken in”, your next step is to build homes on it. You’ll need a builder/general contractor. Obtain a cost breakdown between him/her and an architect. Your Architect will be able to design the type of home(s) you want. Go to your local municipalities and obtain proper procedures and licensing.
rn_frank,
Since you do not have the land yet, buy the land.
I know about the builder and architect but this will be my first development project. I usually rehab to resale and I hold for positive cashflow. I can get financing for that easily but I am unsure of how to go about getting financing for development and how much I need in place. I tried a bank and their credit requirements were to much for my credit right now…
Thanks for your post though, it was comical. :lol: