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Land Lease Community & Sub-Division Canon City CO

Whether you should build a land lease community or a sub-division depends on several factors: your investment objectives, cash & credit resources, market conditions, target buyer demographics, etc. Read on for an in-depth answer to this question.

Re/Max Royal Gorge
(719) 275-1234
1202 Royal Gorge Blvd
Canon City, CO
 
AIMCO/Bethesda Holdings Inc.
(303) 757-8101
Stanford Place 3-Suite 1100
Denver, CO

Data Provided by:
Re/Max Vail Valley
(970) 766-7355
56 Edwards Village BlvdSte 214
Edwards, CO
 
Re/Max Community Brokers
(970) 349-1189
413 Elk Ave
Crested Butte, CO
 
Re/Max Traditions Inc
(303) 772-3800
2204 18th Ave
Longmont, CO
 
Royal Gorge Bridge & Park
(719) 275-7507
P. O. Box 549
Canon City, CO
 
Re/Max Pueblo West Inc
(719) 547-1717
19 East Abarr Drive
Pueblo West, CO
 
Re/Max Peak To Peak
(970) 726-5700
78491 US Hwy 40Ste 5 & 6
Winter Park, CO
 
Re/Max Mountain Vista Properties
(719) 395-9063
108 E Main
Buena Vista, CO
 
Re/Max Performance
(719) 687-0800
300 Sunny Glen CtPO Box 5044
Woodland Park, CO
 
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Building a Land Lease Community vs a Sub-Division

Building a land lease community vs a sub-division
Wed 03/19/08 09:45:12 pm
by Ed Hicks

I am an experienced boulevard retailer, however due to a shortage of homesites in my market area, my sales have slowed somewhat. With an impending recession and an expected relatively high demand for affordable housing, I have decided to become a developer, but I am not sure what kind of community to build. What are the advantages and disadvantages of building a land lease community vs a sub-division? Beth T., Lima, OH

The answers depend on several factors: your investment objectives, cash & credit resources, market conditions, target buyer demographics, etc. If you have limited cash and credit, most retailers new to development will parcel off tracts of land into building lots, and sell them without improvements to buyers. Before a home is installed on a lot, however, the seller or buyer has to arrange for utilities. This usually means arranging for a well & septic tank. Finding land which has the proper zoning is usually allowed in more rural areas, and land use regulations may require relatively large lot sizes, often a 1 acre or more minimum size. By the way, offering lots for sale without improvements across state lines may be a violation of the Interstate Land Sales Act. See your attorney for relevant registration requirement. As the lots are sold off, the cash flow may be used to acquire more land, etc., sort of "bootstrapping" your way along while building up your cash reserves with each lot sale.

If you have more cash and credit, it is often best to build a small subdivision where the streets and utilities are provided to each homesite. Development costs are usually higher, and getting approvals may require zoning and site plan approvals which often involve hostile public hearings. Resulting lot sizes are usually smaller, with yields of 2.5 to 5.0 per acre depending on setbacks, street widths, etc. Advantages over the rural, large unimproved lots are: easier to sell, less rural areas, and the home/land package may be eligible for 30 year financing at site built home rates ...

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