Creating a Subdivision- Sell to individuals or find a builder?
Harker heights · Member since 2019 · 5 posts · 1 vote
Hello all! Thanks in advance for any advice.
We are roughly 2 months into our first attempt at a development. We have 70-80 acres (may keep 2 of the lots ourselves) in central texas on a lake here that we are clearing. The land is very flat, it was thick with cedar but we have it cleared down to roughly about 10 acres left uncleared. Several lots have great lake views, several other lots will have decent lake view and most lost will have great trees.
Our original plan was to clear, and create a gated community and sell the lots individually. However after speaking with a few of my friends locally, they brought up selling to builders instead or even finding a bigger developer that does it all in house. Regardless, I know from local comps and what we have seen so far we would nearly double the money if we kept and sold to individuals, but this is our first go so just looking for some insight from anyone in this area. We aren't opposed to any idea that is realistic, we aren't in a hurry either.
In short i guess my question is, if you have done this before, do you recommend finding builders/developers and selling of multiple lots or the whole thing or stick to selling lots individually?
We are roughly 2 months into our first attempt at a development. We have 70-80 acres (may keep 2 of the lots ourselves) in central texas on a lake here that we are clearing. The land is very flat, it was thick with cedar but we have it cleared down to roughly about 10 acres left uncleared. Several lots have great lake views, several other lots will have decent lake view and most lost will have great trees.
Our original plan was to clear, and create a gated community and sell the lots individually. However after speaking with a few of my friends locally, they brought up selling to builders instead or even finding a bigger developer that does it all in house. Regardless, I know from local comps and what we have seen so far we would nearly double the money if we kept and sold to individuals, but this is our first go so just looking for some insight from anyone in this area. We aren't opposed to any idea that is realistic, we aren't in a hurry either.
In short i guess my question is, if you have done this before, do you recommend finding builders/developers and selling of multiple lots or the whole thing or stick to selling lots individually?
