Question About possible New Construction in Rockville Maryland
Hello Everyone
Have a question about a possible project in rockville md . About two weeks ago I had a potential seller who was interested in selling her property but we could not agree on a price so we couldn't come to an agreement. Today the seller contacted me Asking if I would be interested in possibly partnering with her and splitting the profit ,she's even willing to possibly contribute bring money to the table to work out the deal. She has a 0.30 acre lot zoned for a residential home (there was a home previously on the lot but I believe I was fire damaged) New Construction homes in the area are going in the 900k to 1.2 million range. My question is what would you do in situation. I honestly don't know the first thing about new construction homes and ive only done a few rehabs but I id guess that if no money has to be paid to acquire the land then there should be plenty of equity to be had. I originally contacted the seller with the goal to wholesale the property but I don't think you can wholesale a partnership agreement. So im looking for some feedback from anyone who has new construction experience or experience in the rockville area. Is partnering with the homeowner a good thing ? Any feedback would be greatly appreciated