New Land investor looking for an advice

New Land investor looking for an advice

Contractor · FL · Member since 2022 · 9 posts · 2 votes

Hello there great people, I am looking for an advice. 

From sometime already I have tried putting in together a team to enter into the Real estate development, and have a good profit splits as partners from any real estate development, ground up construction we would build and sell or hold for renting. unfortunately, after putting two different teams in two different timelines, it just didn't wok out, specially with not having the right funding partner at the time that it was needed. It's ok, I don't regret it any bit , The investment world is always a challenge for anyone new to the real estate world, same as well, it's built for risk takers. So Ive decided to go solo, and to keep up with the dream of having later on a good development team. Through this journey Ive realized if you own land , it will be a great start to start chasing funding for construction or build a creative pro forma to pitch investors, etc. 

So the questions I have are: 

-if I have a real estate development llc, but it won't be actively doing any construction in my first two or four land purchases. Should I buy land as a new investor under this llc or should I open another llc to invest in land which can be either long or short investments, basically, shuould both investments and business be used separately, because the use of land after being purchased by me or us, can be used for different things ( renting, selling, flipping and sell, many others options ) . 

could someone help me with an advice. thank you. 

*by the way, as I mentioned, im doing this solo, my own funding* 

*if anyone is curious what went wrong with my journey into putting together a team for real estate development, I can explain through private messages, thanks* 

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  • Developer · Boulder, CO · Member since 2018 · 530 posts · 365 votes
    2y

    @David Sotomayor

    David, I admire your passion and efforts to date. However, based on the information given and the questions you are asking, it seems like you would be wise to spend some time educating yourself before sourcing another site or building another team.

    The developer is the captain, general manager, coach and leader of the development team.

    The developer must know how to select and underwrite the highest and best use of a site. Must be able to properly control the site and get it permitted. Must be able to fully articulate the investment opportunity to team members, investors, lenders and the world.

    If you are missing any of these skills, providing details about how and why your past efforts have failed is not as consequential as getting the education and experience needed to execute a ground up development.

    Please feel free to contact me if you’d like to discuss this further. In any event, I wish you the best of luck in your development efforts.

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