I’ve got great news to share. I’ve just signed onto my first land development deal and I could not be more excited! I was on fire last year, entering near back-to-back deals for new construction, rehabs and mortgage notes in three different states (FL, GA, and PA). But then COVID-19 hit, slowing the wheels of progress. With this freshly inked development deal, however, it looks like things are getting back on track.
The deal is a joint venture to develop 40 acres in White Hills, Arizona, about 45 minutes from Las Vegas. Being part of a development project became a goal of mine in December of last year after visiting my niece. She had just moved into a beautiful home in a brand-new development. Looking at the dozens of new residences on this once vacant land, inspiration hit me. I saw myself building something like that in a future that I thought was years, maybe even decades, away. But through the power of partnership, I can grab the opportunity right now.
The development will take an estimated 12 to 18 months to complete. In the meantime, my team and l are still buying property, revitalizing neighborhoods, and helping homeowners keep their homes in other cities, especially New York City and Philadelphia. If you have something I might be interested in, want to partner, or need help finding a solution to a real estate problem, let me know.