Updated over 5 years ago on . Most recent reply
Land Development strategies
Afternoon BP Group, Looking to get some scenarios on a development deal:
1. I have a friend that wants to sell his land 55 acres that has the preliminary drawings for 135 lots. We planned to partner on the deal to develop the land to lots however he thinks he doesn't have the patience to deal with the local municipalities to finish it so he wants to sell me the land to move on with the project. Once it's complete he still would like to purchase a couple of lots to build on. Ideally this a great opportunity
After a couple of conversation he has agreed to owner finance 200,000 and I pay the remaining balance which is good, the question I have is how to structure the deal to where I can also get a loan or bring in investors to finance the development part of the land. All comments welcomed.