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Getting Financing & Developing Land
by Michael C. Thomsett
You
know how to build quality houses – maybe you’ve been doing it for a few
years, and even made a tidy profit. But the real money is in buying raw land and
developing it. You may want to start small with a few spec homes built on land
you purchase. Or, you want to take on something larger, like a small business
park or a tract of homes. But first, you have to create a market study, select
the site and convince a lender, investor or a partner to back you in your plan.
It’s a major leap and requires business and planning skills that you don’t
necessarily pick up with the ability to build.
Land
development takes a higher level of planning and financing – not to mention
some genuine political savvy. It’s a daunting task, but this new manual walks
you through the entire process:
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- Planning residential or commercial development
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- Getting your plans approved
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- Finding innovative ways to pay for it
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- Setting your selling prices
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- Writing your business plan
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- Controlling your costs to ensure your profit
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There
are forms and checklists to help you in your planning, and a sample business
plan designed to help you sell your idea to lenders and investors. As part of the eBook, these are
included as a download in Word file format you can customize to fit your own
circumstances, and as a download in PDF format you can fill out in Acrobat Reader and
print.
You may
face obstacles along the path to successful land development, but this book can
help you navigate around them. It includes practical advice on conquering local
opposition, dealing with no-growth advocates, and overcoming environmental
issues. If you’ve done your homework, if you’re well-prepared, and if you
can approach each situation you face methodically and intelligently, your
chances of becoming a successful developer are increased tenfold.
Michael
C. Thomsett has been a consultant for numerous construction and engineering
firms over the last 20 years, specializing in introducing practical business
systems for builders and contractors. He is the author of over 50 books on
business and finance, and more than 500 articles in national trade and business
magazines.
His
other books for builders include:
Contractor's
Growth and Profit Guide.
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