Hello BP community, I have 2 acres in Taylor, TX and am considering a Joint Venture, using the land as my equity into the deal. I don’t have the deal put together this is just a thought at this point. I would love to hear any feedback from the community. Ideas, thoughts, experience, how do you determine if the partner is a good fit? I have a large commercial redevelopment starting and need to have a partner be the lead on this Taylor project. I am not in a bind to move on it ASAP as it has no debit associated with it.
It is currently zoned B-1 Local Business. As an alternative we took a multi-family site plan to the City, to test for interest and received positive responses.
Sure, its a possibility, but most developers will just buy the land instead of having to deal with another partner. Is your land so special and unique that you have ultimate leverage over end users?
Hello BP community, I have 2 acres in Taylor, TX and am considering a Joint Venture, using the land as my equity into the deal. I don’t have the deal put together this is just a thought at this point. I would love to hear any feedback from the community. Ideas, thoughts, experience, how do you determine if the partner is a good fit? I have a large commercial redevelopment starting and need to have a partner be the lead on this Taylor project. I am not in a bind to move on it ASAP as it has no debit associated with it.
It is currently zoned B-1 Local Business. As an alternative we took a multi-family site plan to the City, to test for interest and received positive responses.
There are lots of things to consider when taking on a partner to develop property. If you own the land outright you may not need a partner especially if you have the right team.
If you do go the JV route you want someone with experience that is currently in the business. You will also want an attorney to draft all the documents and agreements.