All Forum Posts by: Ian McKeown

The engineer will tell you how to subdivide but the numbers have to make sense.  What will you sell the lots and the houses for?

Your numbers aren't way off.  If you can actually put this deal together; tie up the deal with some earnest money and shop it to investors.  That real-time feedback is more valuable that anything.  And you're working on an actual deal.  

Builders First is a national supplier of building materials.  Ferguson is a large supplier for plumbing and lighting.  Samsung is great for appliances.  Ask your contractors for small, local suppliers.  Then call them all and set up accounts.  Bid your project to all of them to get the best pricing.   

@Stephanie Kerr, please email info to [email protected].  Thank you.

Find out if he wants 100% out of real estate or just this deal. See if he's willing to go into something like a NNN lease. If so, you can put him in a 1031 exchange to help him with his taxes. A 1031 exchange means you and he trade like-kind properties. Since you have no property and no money; you could find a JV partner with money to buy the NNN lease. Then make the trade. Then buy out your partner. You need a CPA, a lawyer and a JV partner. It sounds like you have time on your side to put the deal together too.

@Karen Margrave; @Account Closed; I have the same experience but I am selecting the lowest bids when hiring GC's and subs.  Have you ever experienced better quality because you selected a higher bid?  Like paying up for better quality, service, workmanship, integrity?

Look at the land development codes at Municode.  Navigate to North Carolina, then to Charlotte.  Not sure if there's a separate code for Mecklenburg County.  You'll see the zoning codes and all the rules for land development.  https://library.municode.com/nc/charlotte/codes/code_of_ordinances   

Start talking to local real estate lawyers and ask for referrals to a litigator.  Start or organize your paper file so you can show communication from the past.

Where do you work in Charlotte?

Do you have a $139k discrepancy on your income stream and you already signed the contract?  

Find a good attorney with experience negotiating cell tower leases and either get the $515k or get out of the lease.  

You can also look for a commercial broker with cell tower lease experience to help you negotiate better terms.  Be sure to weigh the value of that broker's commission  against the attorney fees that can get you the same result.

Then go back in and get a couple more cell companies on the tower.