I want to start developing land

[Account Closed]

I want to buy land lots and develop subdivisions and/or build infrastructure to then do long term commercial leases.

What advise would you give to get started on a project without land development experience?

I have prior finance experience but new to the idea of land development.

thanks 

[Chase Busick]

I'd recommend going to local meetups and REIA's to learn from local investors. Attend trade events that builders may frequent and get to learn more about them, there business, and their impact. Learn as much online for free about it, before paying someone (if do, find someone local that has experience that you need/want).

Chatting with some local realtors that have experience with purchasing land, who has had clients that have developed on in order to possibly get connections. 

I would also consider as much internal optimization as possible: credit, business structuring, partnerships/JV's, raising money, risk reduction, etc. One can still get leverage with some financing, but building up your P&L and Balance Sheet will also help. Learn about some trades and make connections with GC's, trades professionals, and builders. Learn about the city/towns permitting process. Learn about vetting your contractors, getting contracts, permitting, etc. As much as you can learn about construction the better. Starting small, then expanding can build up your proof of concept to tackle on future projects. Hiring the right people (can be expensive) can possibly Segway you into bigger deals faster at a cost.

There are so many other things one can do to get into it. 

There are also so many other ways to additionally make money without building or adding another commercial strip onto land that otherwise could have been conserved - avoiding more consumerism and adding more to the concrete jungles we live amongst. There is private/hard money lending (highly recommend if want to be more passive), rentals, flips, alternative investments, developing your business, etc. One should heavily consider all the pros and cons, the ethics behind it, whether it is feasible, or if there are better opportunities elsewhere. There are tradeoffs to everything, play to your strengths.