Alright this is the situation. I own 17 acres of beautiful land residing right outside of the city limits of a med/small town in north carolina. This land does not have anything on it at the moment and it on a hill with a beautiful view over a large river in the background. I have thought that this would be a wonderful plot of land to build a MH park with a nice community pool, clubhouse, etc. I have been thinking that i will build some wealth in my other RE investing and eventually start on this idea in the future, but here reciently i was thinking it may be a good idea to find another investor that would like to fund part of this and take home a large percentage once its up and running, just to get the wheels rolling. What do you guys think? do you see any problems i may run across and do you think i could even find an investor who would be interested? I really do think this could be a huge money maker
anytime you take on a partner in business you take on many possible challenges.
i mean what type of preliminary work have you done re: development of the land? subdividing? zoning? etc…
you could always subdivide it on your own and then sell the entire thing.
zoning it mixed use would be nice too - some condo’s over some stores and what not.
is it located near businesses, churches? etc.?
the more you prep the land for a developer, the more valuable it is. i.e. if you just sell raw land, you get less money - but i’m sure you know this.
that’s great you’ve got nice acreage in NC. awesome - skies the limit.
what about building a few HUGE estates on it, like subdivide into 3 big lots, build some 7000 sq ft homes on em. sell em for like 5 million each…
i don’t know. just talking out loud. u subdivide it, get it appraised, take money out on the deal while partnering with a builder to build some huge homes and finance the entire deal through your loans.