One common thing you’ll find in Land Development: developers tend to specialize in a type of development. For example, you won’t often see a residential developer taking on building a commercial office building in Manhattan. Likewise, you won’t often see a commercial developer building a residential subdivision on the edge of town.
We are primarily a residential developer, and we love it. One of the benefits of the residential sector is that there is always a need for more houses. The same can’t be said for commercial development.
A perfect example: there’s a jurisdiction in Oregon where we put together several residential wholesale land projects, over several years, yielding hundreds of lots and new homes. In the middle of this market we were working in, there was a large commercial property that had been for sale for over a decade. For all of those years, the commercial property sat unsold. Why? Well, it just comes down to economics. The property was too remote to justify a commercial development. It wasn’t until all the residential land around had started to develop that someone finally pulled the trigger and bought the commercial property.
Now, obviously, not all areas are suitable for a residential project – if you build a giant subdivision out in the middle of nowhere, there’s a risk that those new homes could be too remote for that market. But in general, as cities and counties grow, and new commercial and residential land opens up, the residential land will almost always sell first. And the commercial land will often sit unsold for several years, waiting for enough new homes to be built around them in order to justify a new commercial installation.
And that’s why we love putting together residential wholesale land deals. There’s always a market for it!
And here’s the thing: we can teach YOU how to put together these wholesale land deals and see the 5 to 7-figure returns that we’ve been enjoying for almost 2 decades now. Start by watching our free training video at VestRight.com/action.
Have a great week everyone!