Real Estate Development Resources

[Nate Higgins]

My business partner and I are in the early stages of putting together a development.  We've found a builder who will build for us with no money down and will wait to get paid until we've sold off the asset.  However, we're struggling with finding land and financing for that land.  We've never developed before. I own a few multifamily units, and he has experience as a general contractor and in flipping single family homes.  At this stage in the project I feel as though I don't even know what I don't know when it comes to development.  Development is not something that is covered much on the many Real Estate podcasts that are out there.  

Does any one know of any good resources to learn more about real estate development? Specifically, the development of multi-family housing.  

[Bill S.]

@Nate Higgins development is so very specialized as the rules literally change with each jurisdiction. It is very hard to provide guidance with deals and process since the rules can change when you cross the street. I'm not talking subtle changes but completely different process, players, and attitudes.  My advise is this and it depends a bit on the size of your market but in general you would start with a development consultant. These people are engineers, architects, or planners that specialize in the development process in your area. Go to the planning department and ask who has done projects like you want or projects that are similar to what you want. You may need to be a bit creative but keep asking and asking in different ways. Eventually you will get a few names. Go out and meet those people. They will have contacts for everything you need to go from dirt to finished product.