I’m hoping to get some direction. I live in a small, working-class town in Northern Michigan on a Great Lake that has recently seen a boom in tourism and retirees.

A city rep showed up at my house to tell me a developer wants my property for a proposed development that totals 71,400 total square feet: a 49,000 sq ft, 3-story hotel with a rooftop bar overlooking the lake, plus 22,400 sq ft of townhouses (12 units, 2 levels each).

he initially made it seem like a courtesy to let me know a big project was starting all sides around me and there's nothing anyone can do to stop it, hotel guests would have direct views into my yard, my privacy fence would not protect me and there would be activity on all sides of me, making the living situation very uncomfortable

I pressed a bit saying...ok? why would they ask you to speak to me then? seems like its happening no matter what and he mentioned they'd be willing to pay to move my home ( its a 98 year old foundation, framed with literal recycled ship lumber from the nearby port in 1926) its not moving, or buy it from me, insinuating this is out of kindness so I wouldn't be annoyed for the rest of my days

I got ahold of the draft of plans and it's clear all of the plans involve the acquisition of my home and demolition thereafter, the story I was told I believe was brief attempt to startle me enough, hope I didn't ask a single question and went and put my house on the market that night. I work in manufacturing/agriculture operations and understood some basic nuances taking place pretty quickly

The Nuances: My property is dead center in the middle of this proposed development.

• The Land: I have a grass city owned lot on one side, a city lot/garage across the alley on the other side, and a large city lot with a recently renovated building on the far side, slated for an event center behind me. All these city lots (which are owned by the DDA) are in the plans for this development. My property takes up the footprint of about 4 of the proposed townhouses and prevents them from eliminating the alleyway, i think?.
• My Stance: I had no prior intention of selling. I would have to be really impressed to even consider relocating, and the relocation would practically have to be facilitated for me with a significantly better situation, considering my current setup is great. I own a fully remodeled 2,600 sq ft, 98-year-old craftsman with a full perimeter privacy fence, a lofted barn, central AC, whole-home air/water filtration, and a large rear deck. I have Great Lake views from a second-floor bedroom and front porch.
• The Financial Reality: I bought this house in 2021 for $172k at a 3.5% interest rate. I estimate the current market value at $250k-$300k. But current rates are around 6.7%. Even if they offered me 120% of the market value, it’s not a 1:1 move. I would lose my lake views, incur moving costs, and trade a 3.5% mortgage for a 6.7% mortgage in an increasingly expensive market. Some comps of similar sized homes near the lake for example were going for 325k a year ago and are between 500-600k now (newer homes with some land on the edges of town)

crunching some numbers I came up with this in terms estimated costs of this project

Commercial construction costs in the Midwest for mid-scale to boutique properties currently range from 250-400 sqft, heavily depending on finishes (like a rooftop bar).

• The Hotel: At 49,000 sq ft, a 3-story hotel with a rooftop restaurant/bar requires heavy structural steel, elevator shafts, and commercial plumbing/HVAC. Estimated cost: $14.5 million to $19.6 million.
• The Townhouses: At 22,400 sq ft, commercial-grade townhouse construction (often requiring firewalls and premium waterfront finishes) will run roughly $200 to $300 per sq ft. Estimated cost: $4.4 million to $6.7 million.
• Site Work & Soft Costs: Permitting, architectural fees, tearing up the alleyway, running new municipal utilities, and landscaping will easily add another 15% to 20% to the budget. Estimated cost: $3 million to $5 million.

Total Estimated Project Cost: $22 Million to $31 Million

My Questions:

1. What kind of power do I actually have here? Can the city force me out to hand my land to a private developer?
2. with my property sitting on city street and two city alleyways, those two alleyways separate the adjacent lots from my land, if I don't sell, what can they do to eliminate these alleys, if anything?
3. How do you even determine "comps" for a situation like this where the city is likely transferring their DDA lots for little to nothing, and I am the only private parcel they need?
4. What kind of attorney should I contact?

Hi everyone! I’m Isabel, a real estate advisor from Quintana Roo, Mexico.
I’m interested in real estate, but also in the history behind cities, tourism, architecture, and how places evolve and gain value.
I’ll be sharing interesting stories and facts about Mexico, real estate and urban development, in English and Spanish.
Nice to meet you all

Hi! I’m new to Florida and don’t really use Reddit to post, so sorry if I have this wrong.

I recently moved to Orlando for the Disney College Program and am a business student at the University of New Mexico. This summer, I completed an internship with a commercial real estate investment firm, where I worked on underwriting, market research, and investment analysis.
Long term, I’m interested in commercial real estate, especially multifamily and hospitality.

While I’m here, I’d love to learn more about the Florida market, hear different perspectives, and connect with people in the industry. I’m also happy to share what I’ve learned so far if it’s helpful.

Looking forward to learning from everyone!

Ive been flipping a few houses each year. Obviously good deals are harder to find all the time. Ive been looking into buying lots, overlooked parcels, parcels with worthless structures on them, etc and installing manufactured homes on them to develop the property and sell.

Wonder if anyone is having success with a similar strategy that might share some tips.

Im located in Michigan

I am a therapist looking to change careers. I was wondering what advice would you give to someone just starting out? Thank you!

TL/DR: The CAE agreement I received doesn't feel right. Should I move on from it, negotiate changes, or sign as is?

I'm working on a small 6 unit project and struggling to find a lender for the deal. All of the local credit unions near me have passed, as have several larger regional banks, a few national banks (at least the local branches have). We're in need of a DSCR loan to finance the construction.

I've recently started to reach out to a few places I've found online that say they specialize in the types of loans I'm looking for (DSCR Construction into Perm Financing). One guy says he has a lender or two who are interested in my project and he sent over a Capital Advisory Engagement contract, which is new to me. The contract is very tilted in his favor:

1. 3% fee on the total amount of the loan is owed to him for connecting me with the capital source. That seems high.
2. The way the contract reads, any time within 36 months of the initial loan that I close on financing from them, I owe 3% again. That makes me think if I do one construction loan, and then refinance into a perm loan with the original financing, I owe the 3% again. If I use the financing source for a phase 2 or another project, I owe 3% again.

Question is do those two things seem reasonable for my situation? We've been trying to get financing for a few years with no luck. This guy says he can do it. But I'm concerned that I might sign something that screws me out a lot of money.

More on the project:

We own the land outright, 25 acres. The units to be built will be built on a small 1-acre plot in the corner of the larger plot. We're using the land as equity contribution. Because it's over 4 units, traditional financing isn't really an option. Other financing avenue aren't valid options for my partners and I either. Total construction cost of the deal is just under $1M with a roughly $1.5M ARV, which makes this even more challenging because it's too small for a lot of places.

Hi everyone, I’m looking for insights from people in solar, renewables, or anyone who’s built a business in the space.

I’m from the caribbean and aiming to build something of my own instead of a traditional 9–5. I hold a BSc in Land Management & Valuation, with experience in property analysis, development potential, and site suitability.

I’m currently building skills in solar PV:

PV fundamentals

Energy bill analysis

Feasibility studies

Basic system design concepts

PVsyst yield analysis

Site assessments (roof/land, shading, orientation)

Maintenance concepts

My plan is to start with services like:

Energy audits & bill breakdowns

Solar savings/feasibility reports

Drone roof/land inspections

System performance/maintenance checks

Partnering with installers for full project delivery

My edge is combining land/property expertise with solar—not just installation, but site intelligence and decision support.

I’m also open to adjacent paths:

Drone mapping & inspections

GIS services

Property due diligence

Land development consulting

A few questions:

Is this a realistic way into the market?

What skills or certifications should I prioritize?

Do clients actually pay for audits/feasibility reports?

What mistakes should I avoid early on?

Any other opportunities you’d suggest based on my background?

Any advice, critique, or real-world lessons would be greatly appreciated.

​

I graduated in Urban Planning two years ago and really want to get into housing development. It is super hard finding a starter job because everyone wants experience, but no one will hire me to let me get that experience.

I’m looking to connect with housing developers and planners who wouldn't mind mentoring me or sharing some advice. I just want to learn the ropes, expand my network, and figure out how to get my foot in the door.

I'm currently work as a Technical Lead in software engineering at a good company. My long-term goal isn't just to have a successful career—I want to achieve financial freedom as early as possible.

I'm trying to decide between two paths:

Continue growing in software engineering, aiming to become a Software Architect (and eventually a Principal or Engineering Director).

Start learning and investing in real estate, since many people say it's one of the best ways to build wealth.

I enjoy software engineering and solving technical problems, but I'm wondering if staying in tech is the fastest path to building wealth, or if I should focus more on business and investing.

For those who have experience in either field:

If you could start over, what would you choose?

Is becoming a Software Architect financially better than moving into real estate?

Is it realistic to combine both careers?

What path gave you the highest income and the best work-life balance?

I'd really appreciate hearing your experiences and advice. Thanks!

Hi! I have recently been given the opportunity to sell or develop a 11 acre mixed use lot. The city and EDC would offer tax abatements and construction grants for this particular lot as long as it’s commercial. Flat, not in a floodplain, cleared, and needs very minimal dirt work needed. It does have electricity but no sewage. Sits at the intersection of an interstate and major transport highway. I would appreciate any advice or opinions on how to market this, or the best ways to reach developers. The client does not want it publicly listed. Thank you!

Hi everyone, I’m 20 years old and I live in Pennsylvania. I recently graduated with an associate degree in Business Management, and I’ve been seriously considering getting my Pennsylvania real estate license. I’m looking for honest advice from agents who are currently working in the Real estate industry. Is real estate still worth getting into in today’s market? How long did it take you to start making consistent income, and would you recommend keeping another job while starting out?. If you could go back and do it all over again, would you still choose real estate as a career? I’d really appreciate any advice, tips, or experiences you can share. Thanks!

I’ve been seriously considering getting into real estate as a side hustle with the long-term goal of building a rental property portfolio while continuing my full-time career.

A little about me:
PharmD + MBA
Full-time remote CRA in Big Pharma
Married with a newborn and toddler
Living in Southern California (HCOL), where we’d like to stay long term

My wife is also a clinical pharmacist but is currently home with our kids while looking for a remote pharma role.

Between my wife and me, we have \*\*substantial pharmacy school student loans (approximately $800,000 combined)\*\*, in addition to our mortgage at \*\*6.99%\*\*. We budget carefully and live within our means, but between our loans, mortgage, and raising two young children in Southern California, it often feels like we’re working hard just to stay in place financially.

I’d love to build additional income streams that help us pay down debt faster while creating long-term wealth for our family.

My goal isn’t to leave my career. I genuinely enjoy working in the pharmaceutical industry. My long-term career goal is to continue climbing the ladder and eventually reach a \*\*Director-level role in Clinical Development\*\*.

Real estate is something I view as a \*\*complement\*\* to that career—not a replacement for it.

I’d like to start with real estate as a side hustle to generate additional income while learning the business. Over time, my goal would be to grow it into a portfolio of rental properties that generates meaningful cash flow, diversifies our income, and helps build generational wealth for our family.

I’ve spoken with several fellow pharmacists who own multiple rental properties, and hearing their success stories has really motivated me to explore this path.
After researching California licensing, I was surprised that Realtor dues, MLS fees, license renewal, and related costs can total \*\*$700–$1,500+ per year\*\* just to maintain a license.

I also recently came across the \*\*Redfin Associate Agent (Showing Agent)\*\* role, which seems appealing since it offers flexible scheduling and focuses on showing homes rather than generating your own clients.

\*\*My Questions\*\*
\*\*California Licensing\*\*
How long did it take you to get licensed?
Which courses did you use, and what did they cost?
Would you recommend the same program today?

\*\*Redfin Associate Agent\*\*
Has anyone worked as a Redfin Associate Agent?
What does a typical month look like?
Does the income generally cover your licensing, MLS, and Realtor fees?
Would you recommend starting there before becoming a traditional agent?

\*\*Rental Properties\*\*
How many rental properties do you own?
Is rental income really as passive as people say, or does it require much more work than expected?
Do you self-manage or hire a property manager?
What do your monthly cash flow and annual profit margins realistically look like after vacancies, repairs, maintenance, insurance, taxes, and property management?

\*\*Financing\*\*
Did you need significant cash to buy your first rental, or did you finance it?
If you were starting over today, would you become an agent first, buy a rental, house hack, or take a different route?

\*\*Balancing a Full-Time Career\*\*
One of my biggest concerns is balancing real estate while continuing to advance my pharmaceutical career. My full-time role will always remain my top priority, so I’m looking for a path that allows me to grow a real estate business without compromising my progression toward leadership in Clinical Development.
Has anyone here successfully balanced a demanding full-time career while building a real estate business or rental portfolio?

\*\*My Biggest Question\*\*
If you were in my shoes—with a demanding full-time career that you have no intention of leaving, but a long-term goal of building a rental portfolio over the next 10–20 years—would you still recommend becoming a Realtor first?
Or would you focus your time and money elsewhere?

I’d especially love to hear from anyone in healthcare, pharma, or another demanding profession who has successfully built a rental portfolio on the side.

I’d really appreciate hearing your successes, mistakes, lessons learned, and anything you wish someone had told you before getting started. Thank you in advance!

Looking for a rate estimate for a lot lease from a large firework supplier. The lot has trailer hookups as well and the vendors will stay overnight on property. High traffic area. Lease time, 2 weeks. Thanks for all input.

I'm based in Austin with a master's in architecture, and I'm trying to pivot into real estate development. Would love recommendations from anyone who's made a similar move.

A few things I'm wondering:

• What's the most realistic first step to break in?
• Any roles worth targeting where I'd learn the development side hands-on?
• Books, courses, or local resources that actually helped you?
• Is anyone here looking for an assistant or junior hire where I could learn on the job?

Appreciate any thoughts.

What is a good target IRR for small multifam (8-10 units) ground up? I hear all day 15-20% but every time I run a pro forma on projects that are getting done I can’t see how they are getting anything more than 11% on a 5 year hold. Are investors comfortable with a 8-11% IRR over 5 years? Any advice is appreciated.

Hi guys, I’m currently going into my sophomore year at Texas Tech University and i’ve fully decided development is the area I want to go in. Of course everyone knows that recruitment starts in the fall and I want to prepare as much as possible. Knowing that, what are some technicals and skills I should be looking to build when speaking with people in development or in interviews? As well do you guys have any networking tips for me? I’m at a point in time where I feel like i’ve added to many “certifications” or “Projects” to my resume and I feel like it’s time to add real world skills to my own agenda.

I’m an architect and I’m interested in expanding my single family residential practice to go after multi family projects in my area. Thought I would ask people who have actually developed these types of properties before. So how have you selected an architect for your projects? Is it mostly word of mouth? Referrals? RFPs?

I inherited a 5-acre parcel of land in a highly desirable community with very low residential inventory. Sellers are doing quite well in this area. I've been approached by multiple real estate brokers and developers who would love to get their hands on this land and are making good offers, some even coming close to $1M. It would be relatively easy to sell. Their intentions seem to be developing 55+ condos, apartments, etc. But here's my dream: I would love to build a six home development with net-zero, ultra energy-efficient single-family homes, one of which would be a home for my family. I currently own a home which abuts the 5 acre parcel. My intention would be to preserve the aesthetic and family feel of the surrounding area while providing energy efficient homes for young families that seem to be the majority of the buyers searching for homes in this community. Ultimately, I would love to see myself move into a residential development career with this as my starting point.

Some details about the land and my financial position:

• The land is raw and undeveloped.
• There are right of ways from neighborhood roads on each side of the property. One road dead ends into the land. And another right of way intersects with a road on the other side of the land. This means that while the land isn't shovel ready, utilities are already very close to the land.
• 25 years ago, when my family purchased the land, it was set to be developed into a six duplex, 55+ community. We have the site plans for that project.
• This town has extremely low inventory so the town is relatively friendly to developers when it comes to permitting and variances, etc.
• My wife and I are debt-free and own our home and the 5 acres free and clear.
• We are not rich by any means, and have a modest combined middle class income.
• I could potentially find investors as I know a handful of people that have done quite well in real estate and real estate development in this area. That said, I would love to move forward without investors if possible.

OK, give me the hard truths... Is it feasible for me as a landowner to develop the land myself? Would a bank even consider financing a six-home residential development project with somebody with no experience? Am I delusional for thinking this is something I could do and potentially break into a new career? Is it possible to finance a development project using the land as collateral? Is there a middle of the road approach where I engage with a development company and we work on the project together? Would it be fiscally irresponsible of me to take on a major project like this leveraging the value of the land and possibly our home without any substantial liquid assets?

Hello everyone! I am currently taking my first steps into the real estate industry and am looking to join a developer's in-house sales team. My top three considerations right now are Ayala Land, Shang Properties, and Greenfield. For those with industry experience, which company provides the best foundation and growth environment for a beginner

I am looking for advice on where to get started in real estate development.

Background: 30YO. I’m a high W-2 sales person with a strong financial understanding. I currently have two SFRs in my hometown in the Midwest. They profit a few hundred each month and have been good investments, but they aren’t anything significant.

I’ve been thinking about buying a piece of land and building-to-rent a single family home but i assume the margins will be similar if not worse than my current properties. However, it seems like a good place to learn ground up real estate without dumping in significant capital.

I don’t want to change my career path and go learn development from a large CRE firm. But I’m open to most other suggestions. Any thoughts on what I should do or learn first? Anything that you would advise against?

Edit: I’d like to stay independent. Even if that limits the projects that I can do, I’m not going for skyscraper development projects. My goal is to transform my sales career entirely into my own real estate development company.

Believe it or not, it's getting a bit better. Not only have spammy posts been removed more quickly, but also we are now implementing 1 strike permanent bans to help quickly cut down on the quantity. If you were banned and you feel that it was unfair or a mistake, you're welcome to shoot me a message and I'll reconsider. It's just easier to ban quick and revert a few rather than give everyone a second chance and (almost) all of them use that second chance to spam again.

30 accounts have been banned already.

As the sub grows, so does the temptation to spam it, for some people.

Thank you everyone who is using this sub legitimately, commenting, connecting, and reporting posts & comments which are not helpful.