Note business model
I would appreciate some collective thoughts concerning my proposed business model. At times it help me to get clarification if I feel I'm getting too close to the trees not to see the forest properly so to speak. So I am open to some thoughts and guidance.
I am considering an overall strategy for real estate investing as follows: I live in Florida and there are vacant lots available to be purchased at tax sale. My approach would be to acquire the lots, clear title and as my exit strategy:
1. sell them outright;
2. take back paper;
3. develop the lot; or
4. accumulate a few and exchange them or use them as a down for another parcel.
I like paper, but with the recent dodd-frank and other issues I am concerned. I know i am papering lots but I'm not sure if it exempt. Am I looking to take on too much with the possible development? I would do the development as a turnkey operation. I may know which side of the hammer to use , but I know i still bend a lot of nails in the process.
You're thoughts and guidance would be most appreciated.