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#65796 - 12/27/05 11:25 AM build on vacant land
Tomas Hernandez Offline
Junior Member

Registered: 07/28/05
Posts: 4
Loc: Los Angeles
I have this buyer in Los Angeles who wants to buy vacant land and build properties to sell (he does have $$$). I have never dealt with this type of a buyer. My plans with him is to acquire his land and have him build on it. When he is done with the construction I will sell his properties. What I dont know is how do i go about pulling out numbers to see if its worth his money in investing in this process. I also want to know if he deceides to go through the process what type of people does he need to start talkingo too. Do I need to start calling contractors and such? help!

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#65797 - 12/27/05 05:42 PM Re: build on vacant land
Jflynn Offline
Member

Registered: 07/16/04
Posts: 2899
Sounds like both he and you are total beginners at this game (nothing wrong with that we all start somewhere). You might consider referring this out to get a piece of it instead of nothing at all or worse yet sued. Make it a contingency in yoru referral that the agent ytou send it to lets you watch from the sidelines and learn.
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Dallas Real Estate

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#65798 - 12/28/05 08:21 AM Re: build on vacant land
ed-gar Offline
Junior Member

Registered: 12/25/05
Posts: 7
Loc: miami lakes fl.
You could go to topic "DEVELOPMENT" and check JB CONTRACTORS, read and contact
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ed

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#65799 - 12/29/05 07:08 PM Re: build on vacant land
Paul Oaks Offline
Major Contributor

Registered: 06/23/04
Posts: 3367
Loc: Central Illinois
Your answer depends on what your investor is building? Commercial or Residential.
Does the investor have developement experience? What exactly is your role to be?


 Quote:
Originally posted by Tomas Hernandez:
I have this buyer in Los Angeles who wants to buy vacant land and build properties to sell (he does have $$$). I have never dealt with this type of a buyer. My plans with him is to acquire his land and have him build on it. When he is done with the construction I will sell his properties. What I dont know is how do i go about pulling out numbers to see if its worth his money in investing in this process. I also want to know if he deceides to go through the process what type of people does he need to start talkingo too. Do I need to start calling contractors and such? help!
_________________________
Paul Oaks
Oaks Real Estate Group

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#65800 - 12/30/05 12:40 PM Re: build on vacant land
Tomas Hernandez Offline
Junior Member

Registered: 07/28/05
Posts: 4
Loc: Los Angeles
This would be on a residential and not commercial. right now the property is 24,000 sqft. and half of it is being used as a SFR and the other half was used for horses. Therefore, the right side of the land 12,000 is vacant and and flat. The owners want to sell it and I have a buyer who wants to build some homes in the vacant area. (this is all new to me) I dont know exactly what role I will take or should take but I am not going to jeopardize my carrer for this. That is why I'm posting. So far I've been reviewing the comps and I have the information on what types of properties have sold in that area and what they are going for.

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#65801 - 12/30/05 03:14 PM Re: build on vacant land
Paul Oaks Offline
Major Contributor

Registered: 06/23/04
Posts: 3367
Loc: Central Illinois
Tomas,
First you need to determine the exact lot size and if it has a seperate tax id number ands there are most likely restrictions on how many lots it could be devided into( could be 2 lots depending on shape. Also check its zoning. Check with local building codes regarding setbacks. In my area that 10K sf lot would have a SFR or maybe a duplex.

 Quote:
Originally posted by Tomas Hernandez:
This would be on a residential and not commercial. right now the property is 24,000 sqft. and half of it is being used as a SFR and the other half was used for horses. Therefore, the right side of the land 12,000 is vacant and and flat. The owners want to sell it and I have a buyer who wants to build some homes in the vacant area. (this is all new to me) I dont know exactly what role I will take or should take but I am not going to jeopardize my carrer for this. That is why I'm posting. So far I've been reviewing the comps and I have the information on what types of properties have sold in that area and what they are going for.
_________________________
Paul Oaks
Oaks Real Estate Group

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