Own a land and want to build and sell!!! - Posted by V. Ersoy

Posted by AWWMi. on February 23, 2001 at 23:34:36:

Anywhere near Lake Huron? Vacation properties. Nice area also for commuters to Detroit, Pontiac. I would also be cautious developing too much until we find out exactly what happens to the automotive economy in Michigan. We’re getting some ripple effect out here in Grand Rapids. Layoffs in some of the bigger companies and banks. Nothing major …yet (sigh). Anyways, hopefully some of the pro’s on this website can give you more incite on your questions. Don’t get sunburned. Signed, Frozen in Michigan

Own a land and want to build and sell!!! - Posted by V. Ersoy

Posted by V. Ersoy on February 23, 2001 at 20:06:23:

We own (free and clear) a large piece of property in a small town in Michigan. We have many investors interested in buying the property. However, I believe that if we build
homes on this property and sold them we can make a lot more than what the investors willing to pay for the property. The problem is I know nothing about building homes!!! We own 100+ acres but I like to start small and maybe build on a 10 acres first. After all, I don’t want to lose my shirt if something goes wrong. I will appreciate any info. to help me start with this project.

I need info. on:

  1. How to get builders financing,
  2. How to find contractors,
  3. How to find architects,
  4. How to get permits,
  5. And anything else that I need to know!!!

Thanks a million.

Re: Joint venture - Posted by BillW.

Posted by BillW. on February 24, 2001 at 08:07:21:

Unless you have experience in land developing or a lot of time this might be worth considering a joint venture deal with a reputable local contractor in that area. They will already have all necessary contacts needed and they are professional builders working in their own area. Your contribution could be the land and possibly some of the financing. This could be done from where you’re currently living. You’ll still need a good attorney like the others suggested.
good luck,

where in michigan? - Posted by AWWMi.

Posted by AWWMi. on February 23, 2001 at 22:53:40:

I have no experience in this field, however, I would think it prudent to get a real estate attorney in your area. Especially, one that has experience in land development. Someone to help you through your towns development ordinances and restrictions. This would be the minimumal start. You will probably want to get a relationship going with at least one trustworthy developer in your area to let you know where some of the pitfalls are that you might run into. Be darned sure to ‘due diligence’ and if it costs some money so be it. Alot cheaper than some of the "learning seminars I and I’m sure others have taken. Just my .02 Hope the best for you :slight_smile:

Re: where in michigan? - Posted by Versoy

Posted by Versoy on February 23, 2001 at 23:00:21:

Thanks for the info. Actually I live in Florida but our land is in Port Huron Michigan.