Starting my internship in land development with a very large residential developer (largest privately owned home builder in North America). What should I expect out of my first internship?
Anybody work in LD? Would love to hear your experiences and would appreciate any pointers.
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that's interesting work if you can find it. i'm not really answering your question here but make sure you push hard for a serious higher-level learning experience and not just mundane administrative bullshit. unlike an internship at an office REIT, i doubt they're gonna have you modeling cash flows.
They told me most of my work will be working with their pro forma. I'm pretty excited to see how they analyze master planned communities.
Hone in on the timelines, costs, and permitting regulations. I have seen first hand the amount of money that can be made in land development whether it is a flip, pad sales, or a mix of the two. Understand why and when improvements are going in, what permits are needed, costs for important items (sewer, tap fees, paving, water, gas, etc), what is the rationale behind the road layout, etc etc.
In 10-15 years you can tie up dirt with a creative deposit structure and make a boat load of money w/ minimal risk.
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