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Land Lease Community & Sub-Division Hallandale FL

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 Ultra Realty Group
(305) 932-1771
2875 NE 191st StLobby Level Ste 102
Aventura, FL
 
Re/Max All Stars
(954) 963-7111
3100 Stirling Rd
Hollywood, FL
 
Re/Max Consultants Realty I
(954) 767-4667
1625 SE 17th St Causeway
Fort Lauderdale, FL
 
Re/Max Unique Realty
(305) 822-7444
6167 Miami Lakes Drive East
Miami Lakes, FL
 
Re/Max Powerpro Realty
(954) 874-2500
4301 S Flamingo Rd #101
Davie, FL
 
Re/Max Executive Realty
(954) 862-2600
1939 Hollywood Blvd
Hollywood, FL
 
Re/Max Oceanside Realty
(305) 895-9393
12550 Biscayne BlvdSte 218
Miami, FL
 
Re/Max Presidential Real Estate Group
(954) 274-5958
701 Promenade Dr#230
Pembroke Pines, FL
 
Re/Max Preferred
(954) 396-5900
2 S University DrSte 110
Plantation, FL
 
Re/Max Preferred
(954) 396-5900
513 NE 21st Ct
Fort Lauderdale, FL
 

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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