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Land Lease Community & Sub-Division Columbus NE

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 Total Realty
(402) 564-5999
2317 13th Street
Columbus, NE
Re/Max Sandstone Real Estate
(308) 632-1032
2822 Ave ISte A
Scottsbluff, NE
Re/Max Real Estate Concepts
(402) 441-4120
7160 S 29th StSte 6
Lincoln, NE
Re/Max Sandstone Real Estate
(308) 432-8976
623 West 3rd
Chadron, NE
Re/Max Alliance
(402) 441-4123
5730 R StSte D 2
Lincoln, NE
Century 21 Realty Team
(402) 564-1333
2626 23RD St
Columbus, NE

Data Provided by:
Re/Max Executives
(308) 237-4060
3000 2nd Ave Ste 5PO Box 637
Kearney, NE
Re/Max Realty Partners
(308) 254-0913
920 10th Ave
Sidney, NE
Re/Max Associates
(402) 371-3355
2200 Taylor Ave
Norfolk, NE
Re/Max Results
(402) 612-2413
3801 S 188 St
Omaha, NE
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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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