We have 1 acre land in ATL...want to build townhomes...have no $$$. How do we get a developer to build/invest?

We have an acre-plus property located in the heart of Atlanta, with a great view of the city. Atlanta's experiencing a serious real estate boom with many transplants relocating to the metro area (downtown, midtown, etc). The property is paid for -- and it's near the baseball stadium, the Zoo, downtown, etc. It would make for great townhomes. We simply don't have the capital to make it happen. Nor, do we simply want to sell it to an investor who'll turn around and make a milliond dollars or more -- while we walk away with barely a fraction of that. Real estate brokers tell us it's worth a lot but the offers are barely $200K. Is it possible to partner with a developer and split the profits? Will banks invest in that type of venture if you don't have the collateral to back it up? Does anyone have any experience or advice on how one could maximize a profit on such a hot property?

We have 1 acre land in ATL...want to build townhomes...have no $$$. How do we get a developer to build/invest?
Don't sell it, you guys should take you time and do your homework and extensive research of the building industry.





My husband is getting his degree in construction management and is looking for land to start building on.


You guys have the land, but no experience and resources, but those can be gain through extensive research.


Search for GA association of real estate investors, they have monthly meetings open to all, you might be able to pick someone's brain or find an investor there.





Get a loan and start building in small phases.





Hire a general contractor (www.kudzu.com) for help.





But when you start building make sure the closets are big, the bedrooms are big and the townhome has a 2 car garage. I am sick and tired of atlanta builders(especially those intown) putting up matchstick boxes and callling them townhomes.
Reply:advertise for rehab investors.





fact is an investor is an investor and if an investor makes more than the fraction that you are making it is simply fact that that is why its called "investing".





If you can lease the property or leverage the property to finance your own rehabe venture, then you would be come that million dollar earning investor in your own interests.





Partnering is a matter of your negotiations; as yourself this - If I we to invest in something how and why would I want to split the profits?





Your "collateral" for lending would be the property itself if the value is there.





Realtors are ppl too and if a Realtor has the notion that its "worth alot" but can not or will not consider "putting it in writing" then the credibility of that "opinion" is merely just an opinion. Suffice it to say if a Professional is putting it in writing, there may be "consideration" neccessary for the constructive notice consideration.





My suggestion as a start are to:





1. Establish Market Valuation of your property in writing





2. Take that Market Valuation to a cooperative lender.





3. Seek the assistance of a cooperative Land Developer.





4. Establish all agreements in wrting with the assistance of your attorney.





The rest is business consideration. Accounting, etc.