Closed 89 lot subdivison in Portland Oregon.

6 Replies

We closed to day on a 89 lot subdivision.

Myself and a small group of investors.

goal to build 89 500k to 600k homes over the next 3 years.

So I know where I will be every week

Wow! that's fantastic! Congrats! I've been nibbling at land. But was sending mailers on infill lots. 2 acres and smaller.     Any words of wisdom.? How big was this parcel?

@Steve Hodgdon   37 acres we did a simultaneous close and sold 7 acres to Hope village retirement center for 2.2 mil.

total purchase was 7.4  ..   this was a cash transaction took all but 15 minutes to close  it up LOL.  I got nervous about sending that large of wire so I flew up from my Vegas home this morning to PDX to hand deliver a cashiers check.

Keep in mind I have the 4 acre parcel right across from the Graton casino.. happy to sell it to you ..  3 mil its yours LOL

I have only owned it for 25 years now.. LOL. 

I figure on this one it will be about 2 to 3 years to sell out.. its not California absorption rates that's for sure.

Have you been checking the infill lots in the burn areas of N SR ?  

@Jay Hinrichs   Yeah, almost took down a commercial acre in Santa Rosa. I can't get a handle on the City. They want new housing construction, but I think one of the big guys has to kick off the party. If you know the old Journey's end MHP on Mendocino, that's being turned into multifamily. Things are starting to move. Getting builders is tough too. 

The SR deal was $3 mil. Couldn't make it work. Send me coordinates. I'll try to stand on the dirt in the next week. Expect you've shopped it. Why no sale? 

@Steve Hodgdon   for my Graton piece that is in Rohnert Park not SR.

the few that have made offers needed to do a land assemblage. they wanted bigger chunks.. I have been to the alter twice but never sealed the deal.   

@Jay Hinrichs I know. I have 2 rentals in the S neighborhood near SSU. I'll look at it if you want. Got a couple young bucks looking for a project to do together. 

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