Small lot development - Part 1
Brokers and investors sometimes ask me why I am interested in small lot development. Being small, it has a lot of inefficiencies and challenges. And it is just not the sexiest project to work on. So I want to share some of my thought process on why l like it, what it looks like, how it’s done, and some cool projects in a 5-part series. Part 1 - Why I like it Part 2 - What it looks like Part 3 - How it's done Part 4 - How much it costs Part 5 - Case studies Here is Part 1 - Why I like it? Real estate development is a capital-heavy business. Raising money is probably one of your biggest challenges. I know a few seasoned private developers in NYC who still consider raising capital as a major hurdle in their projects. Tesla co-founders Martin Eberhard and Marc Tarpenning chose to start with sports car roadster (a very small segment of the market) before sedans and SUVs because of limited funding they have. If you are starting, you have limited cap...