Was looking through survays today around some land I have. I see others are buying smaller land than mine for more money. They are splitting them up 5 ways with a survey. They are drawing in easements to county roads. They are adding water well sites to the easements. They are drilling a water well and selling the lots.
I talked to some guys doing this. They are doing well sharing contracts to have the first one developing to pay for the pump and plumbing etc. Second pays all cost less 1/5th then third pays all less 2/3rd cost etc until all the cost are split 5 ways.
Got me thinking. Would you guys Mail on this process? Either carry it out or sell the land with the plan.
What pit falls do you foresee.
Do you think I can sell land contingent on the water well and get it drilled and paid out of title?
Sell one lot to pay for the land one to pay for the well then three for profits.
The economics look good. Time line not very long.
Am I crazy?
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