Edmonton Real Estate Investors Association Message Board › New and Exciting
Today I met a member of this group at a networking function and I decided to check it out. My inital thoughts are great.
A bit of an introduction.
I am a real estate investor as well as a sales consultant for a land banking company based in Calgary. The more I learn about land banking the more I get excited about it. What La Terra does in a nut shell is purchase raw land from a farmer in the path of poteintal future development mainly in bedroom communities around larger cities in Alberta. We divide the land into 1/6 acre units and sell them to our clients either cash or financed. Once the units are sold we take the land through the process of Annexation, and predevelopment engineering (area structure plan, area concept plan...). This process requires numerous approvals from the local town council who we work closely with to ensure our vision for the land matches theirs (this speeds up the approval process). When the design is comple and the approvals are met we market our land to developers who jump all over the opportunities since they do not have to go through this process while their machines sit in their yard. $$$ are returned to our purchasers at when the deal is complete. You recieve a land title, voting abilities on administrators and offers. It is a no brainer to a savy investor.
As I mentioned we do financed units. If we offer financing we need to offer private mortgages as well. Our current mortgage pays the lender 10% annual paid monthly and you are 1st secured on the land. La Terra charges $0 fees and retains no money on the mortgages. La Terra makes 3 months payments if the lender defaults and at that time the lender has the option to assume the land or resell it to another purchaser and continue the cash flow.
I am interested in hearing all your ideas and opportunities as well. Send me a message and I will give you my email address and phone number. Looking forward to connecting.
Have a great day