St. George Land update

I think I should start calling this my “Land just east of Hurricane” because that’s where it really is.  I have just begun talking to a developer about building some spec homes on my lots out there. 

I don’t have any details yet on how this deal would work, but according to him there are 4 homes being built in the subdivision now.  He is going to build a home out there soon and figured that if he built 2-3 at a time he could save in build costs.  However, he doesn’t want to buy the lots from me and build, he wants to do some sort of I supply the land and he builds on it and we split the profit. 

The problem is he has to get a construction loan to build the home and there would be no collateral on this loan because I own the land.  I may have to get the construction loan for the house which is something I don’t want to do.

About Kenric

My blog about living life to the fullest by generating passive income through real estate, business and online investments.
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