Hello! I am a new investor, but where I am likely different would be how I’ll bring value to this community. I am excited to contribute in any way I can, the more I learn.
I intend to focus less on the flipping approach, but instead, I need help identifying vacant lots that fit my our business model. Once we have the right property identified, we would look to 1) purchase the lot from a successful investor in this community or 2) similarly partner with a land owner on a JV or sublease strategy. For #2 The land owner would receive ~60-70% of net profit, and we would receive the rest as compensation for managing asset development and ongoing ops.
I would be very eager to have a few brief conversations to learn more about any of your successes/failures, as well as see how my we can step in as a buyer or partner, as described above. Have a fantastic weekend everyone!
Do you have a geographic area. Land size? Limited price range? Things not worth dropping you a line on ie. recreational only property? Or properties that won’t peculate?
Timber Pimp Jeff in the NW corner of Washington State.
@treepimp I would say the lot size would need to be minimum 5k SF. Sweet spot is probably in 80-120k per lot. We are focusing on Detroit, Nashville, Chicago at the moment. But I know there are a handful of others that are possibilities as well. The property would need to be able to be zoned for commercial. What is your expertise and which locations? Thanks!
I think this is a smart approach for someone new. My first deals were wholesale from another investor. There were a few hiccups in the acquisition process, but the other investor was super helpful in making sure everything was done right. As long as there is profit in a deal, buying wholesale from another investor can jump start your experience. I occasionally have assignment deals and would be happy to include you on my list of investors I notify when I have something. Deal flow can be challenging when you first start out. But a fellow land investor will tell you what they think is the positives and negatives of a deal which can be a huge advantage.