Real Estate Developers

S

SJP

Guest
I know a number here are involved in Real Estate development of various sorts. A good friend of mine is looking to sell his house with the accompanying 6.5 acre piece of land in a prime area of Michigan, and is struggling with the local realtors and so on. It would seem that in these days of million dollar houses on 1/2 acre lots, this would be a prime purchase for a smaller developer somewhere. A similar area about 1/2 mile away was turned into 12 1.2mil properties...

If anyone knows any of these types of developers in the MI area that would be interested, I can put my buddy in touch. Just not plugged into this business...but if ya need load-balancing on your website - I'm your man ;)

Steve

p.s. Of course, if something works out and he sells it...he's gonna owe me a bunch of right seat time in the Mooney !! :D
 
Steve,

I have only been involved in commercial real estate development, not residential so Dave Siciliano and Bill Suffa will know more I'm sure. I don't know any smaller, residential developers in that market.

Some of the issues he will face are density and coverage issues. Also, subdviding land can be a daunting task as the local, and state agencies have to approve the plan. There are zoning and probably storm water issues to be dealt with and local land use boards that think they are all kings and queens.

Its good to engage a local developer that is knowledable and knows the people and politics involved. Make sure your freind checks how many fingers he has left after shaking hands with on though. :)
 
Steve:
Anthony is right on. Real estate development is still a very fractionalized, local business where knowing the local laws and leaders is very important. I wouldn't have any contacts up your way. I would look for a local guy that really knows the lay of the land. Have your friend contact the city planner and ask for some names or attend a few city council meetings and see who is active and who your friend likes.

Dave
 
Dave Siciliano said:
Steve:
...Have your friend contact the city planner and ask for some names or attend a few city council meetings and see who is active and who your friend likes.

Dave
Click to expand...


Great Idea - I'll suggest that :)
 
The other place to talk to is the local Chamber of Commerce.

The risk in talking to the city is that *if* they have NIMBYs on-board, it will give them a leg up. The CoC is pro-business....
 
Steve:

There are many directions to network and find a good developer, another way to do it is to talk to a good engineer. Find out who is the engineer of similiar developments (their name will normally appear on plats for development.) The city engineer can refer you also.

The engineer may know of significant development issues such as availablity of utilitied, future road plans, etc. Also, he or she will know some local developers and be able to clue you in as to what they are like and who may fit.

Dave
 
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