Seeking Real Estate development Investor for Partnership

BiggerPockets Inc. • Remote (UT, United States) • $200k - $250k / year • 1m ago

I hope you're all doing well. I wanted to reach out to this community as I'm currently exploring an exciting real estate opportunity in Tooele, UT, and I'm seeking a potential partner to collaborate with.

Here's the deal: I own a piece of land in Tooele that I'm looking to rezone to MF-16. This rezoning would enable the construction of over 120 units of townhomes, presenting a significant development opportunity in the area.

However, in order to proceed with the rezoning and subdivision approval process with the city of Tooele, there's a crucial requirement that needs to be met: acquiring sufficient water rights for the entire project. This is where I'm looking for a real estate investor to come on board.

I'm seeking a partner who would be willing to invest in purchasing the necessary water rights for the project. Once we secure these rights and obtain approval for the subdivision, the potential for returns is substantial.

It's important to note that I will not be responsible for any of the construction expenses, as I intend to sell the "ready to build" project to a home builder. This means that our focus will solely be on obtaining the necessary approvals, water rights and ensuring the project is set up for success.

Tooele is experiencing growth and development, and this project aligns perfectly with the increasing demand for housing in the area. With the right partner, we can capitalize on this opportunity and maximize the potential of the land.

If you're a real estate investor looking for a promising venture and are interested in partnering up for this project, I'd love to connect and discuss the details further. Feel free to drop me a message or reply here, and let's explore this opportunity together.

Looking forward to hearing from you all!

If you don't find who you are looking for on BP, I suggest networking with local high net worth individuals and family offices. They usually are who back local developers on projects of this size.

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