How do you start your own subdivision?
Hi Everyone, this is my first real post on here. My husband and I are newbies to the real estate investing game, although we do have one rental property doing very well! We definitely lucked out on our first deal. We are military and will be moving next month (still unsure of exactly where) but one of the two most likely options is Jacksonville North Carolina. While researching homes we can potentially flip there (we might go for 3 years, or 6 months lol military) I found a single family home that is listed as 2 bedrooms and 1 bathroom (but there are 3 rooms upstairs) and it definitely can do with some basic updates.
This home is in the New Bern area of NC (I originally thought we were going to a different base so I know that's a little far from Jacksonville) but it sits on 8 acres of property. It mirrors another subdivision right behind it and is long in length. I had the idea that it would be a fun project to separate it into lots and partner with a builder to put new homes on it and sell the homes (in addition to updating the other house). But we have a few questions with this:
1. How do I find out the zoning for this property? I couldn't seem to find it anywhere online when looking at county records.
2. Do we really only need to be concerned with zoning to be able to start the project or are there other things we need to account for to be able to take on this project (other than normal finding a builder to partner with etc...
3. Is anyone here investing in New Bern, NC and know the area well and can say how well the market is doing and if this is a good plan?
4. Is anyone a builder in the area and can give quotes on how much it would be to build different types of properties and/or maybe interested in partnering if we end up moving forward with this project?
Thank you everyone with all advise and help!