12 Comments
 

What market/how far are long are you in SFH land acq role? Offer in hand? What's the sales job in ?

 
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Land is RIP today!  You won't get paid for 2 to 3 years as institutional groups are only doing options today to tie up the site.  Hence you won't close for 24 months.  Also, most land sellers don't need to sell unless it's a land flipper who is most likely in the red!  They most likely have existing broker relationships.

Groups that close in 3 to 6 months will most likely walk away after DD unless it's HNW funds or non-institutional money.

On the IS side, if you are doing private capital, you might be lucky to do some deals but it's a crowded space of brokers!  

Tough time to be in development and brokerage today.  Lots of sleepless nights with capital requiring a 6-7% PLUS YoC, market dependent.

 

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