All Forum Posts by: Kenneth Bell

@Amir Castillo Hello development is what I do for a living. First I want to say congratulations if you commit to development it will be rewarding I promise you. One thing you have done right is to create a strict metric for what a good deal loaoks like. Mine is 20% pad ready land 60% vertical and 20% profit and overhead all based on gross value. Some of the best advice I can give you is to focus as a real estate developer on making a good land deal first and foremost. If you focus on that first, the cost of construction will work out. There is a distinct difference between development and construction. People seem to interchange the words as equal but they are not. Also to make a piece of property able to be developed there are 3 main pillars.

Access

Compliance

Utilities

@Dimitra Manou

Do you know the resources and due diligence needed to develop a large parcel of land? Please make sure you understand how to evaluate land before you buy. I develop for a living and it is easy to buy a piece of land and pay too much because of the cost to develop it. Land is worth what can be put on it. If you cannot make and accurate assessment of what will fit on the property than you cannot make a proper evaluation of value.

@Sean Borg

Are you getting a construction loan or building with cash?

I would bank on 25-30% of build cost as your skin in the game. You could go with hard money for construction as well. Time is your biggest enemy. Learn how to go fast

@Rashad S.

Is this house for investment or simply a place for your family to live?

@Robert Ellis

Did you ever get your land situation figured out? I am always interested in infill lots if the density and market is good. If land needs to be entitled, I will do a contract based on the entitlement being approved. I am interested in Tampa and OH if the numbers work

@Lane Kawaoka

Sorry for the late reply. I don't get on here as much as I should. Let me know what you have.

@Jordan Ray

Hey Jordan,

I am interested in Florida as well. Send me a message, and let's talk.

@Jerry C.

Send me a message and we can connect

@Robert Ellis

Hey Robert ,

We just entitled a 35 door townhouse deal. But we are always looking. Send me a direct message with your contact

@Jay Hinrichs

I have to agree with Jay, this is not development. You are hiring a GC and Broker to build and sell a spec home for you. I can almost guarantee the builder is not going to do it at actual cost either. He will want compensation for doing the building and equity as well. You would be better off if you have the resources to get your own construction loan and builder to build the spec. There will be plenty of realtors who want to sell your product after the fact. My 2 cents