If YOU build it, will they come? The question does not always apply to real estate, but there is a current example in place of how being “first in” on an opportunity could get you land for residential development for free. If you submit a proposal to show how you would develop and build multi-family affordable housing, the state will award you the land on which to do so.
It is an incredible opportunity, whether you are an experienced builder or developer or lack the experience but want to establish yourself. The reason the State is not going to charge for land acquisition is that they are anxious to cure a housing shortage. You save thousands of dollars in land costs and will not have to worry about zoning, which saves weeks, if not months, of time.
Like with most events in life, there are obstacles, deadlines, and major changes to consider when pursuing such an opportunity. This actual opportunity definitely has what could be significant obstacles. There are times when it can be worthwhile to deal with them and make sacrifices “now” for significant gain later.
You could become a real estate developer or builder based on your own proposal, gain the experience of going through the project as it happens, and save thousands of dollars on startup (by not purchasing the land) that will reflect in your success. It would be a track record you could take to other locations. The project could generate rental income for years to come, and sooner than most projects because of your reduced original price to complete the build.
Is it worth relocating to get started?
If you want the success badly enough, that would not be an obstacle. If you can get financing for a real estate project, that would not be an obstacle. If you believe in yourself and your real estate capabilities, that helps.
Personally, I have nothing to do with this project or any interest in anyone (not a client) taking advantage of this great opportunity. I’m all about getting real estate investors and professionals to research and think about opportunities. You create your own luck, and being “first in” has its advantages. The fact that you can get “free” land for residential development which is in Alaska may be an obstacle to some. I would love to connect with people that believe it is not!
Details in the below linked article. Are you ready to talk?