In this video, I go over some of the questions I'm asking builders that are potential buyers of a project of ours.
I go through this exercise each time we go into a new market.
1. Do you Self Develop (develop land for the Finished Lots)?
2. How many homes do you build a year?
3. What do you think my Lots are worth Finished?
4. How do you calculate what Lots are worth at Land Use Approval (Paper Lots, Preliminary Plat)?
5. What contingency % do you use for land development?
6. What Earnest Money % will you put up (non-refundable after Feasibility Period/ Due Diligence Period “DD”)?
7. How long of a DD do you need?
8. How soon will you close after Land Use Approval?
These questions have been very helpful in discovering who the best buyers are for our projects!
Discover how a single land deal can outperform 100 real estate transactions by addressing the housing shortage in the United States. To learn more about this innovative program, click here to speak with our team.
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