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Developing tracts of land into buildable house lots can be profitable, but there are many pitfalls and obstacles to overcome, and timing is critical.
There is so much involved in the process, tens of thousands of dollars will need to be spent before a single lot can be sold or built upon, and it can take years for approval and permiting from the town.
Starting with the high cost of survey and engineering for roads, planning for utilities ... sewer water gas and electric and then there's the wetlands issues.... Presenting a subdivision proposal to the town officials requires attending a crapload of meetings with an engineer and lawyer in tow.
When a loan is involved, more tens of thousands of dollars in interest, and then real estate taxes.....all this and more before a single dollar in profit can be made. Nothing simple about it.
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