Rental Subdivision- looking for ideas

1 Reply

My wife and I spent our anniversary at a resort in Georgia that set up like a neighborhood of small little apartment sized houses. There were sidewalks, fire pits, community games, etc and all I could think was how awesome it would be to have a setup like this of rental houses. I live in a city with a great school and houses sell as quick as they are listed. Rental houses and apartments stay packed here but there’s nothing like what I’m talking about in the area. There’s little to no land left to build on here either but a friend recently inherited a huge chunk of land, right on a main road , between to upscale subdivisions. He’s trying to decide whether to sell the land, subdivide it or what to do. It would be a perfect place to realize this dream and I would like to approach him with my idea but not sure how it “could look”. I’m a bank manager and have lots of contacts for investing in it but looking for ideas on how this could be done. I’m not sure what value I could bring other than some cash and this idea. I’m looking for ideas on how cost and profit percentages could be divided among investors. Since he owns the land, what percentage would be attractive to him to even consider this. I’m a newbie to real estate and this is definitely an idea that’s “too big for my britches” (excuse the southern slogan). It’s just an idea that keeps tugging at me.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you