Hello from NYC

**Flyboy** · 11-05-2007, 07:19 PM

Been lurking for a while and seemed like a good place to hang, so hello...I'm a real estate junkie

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Been in rentals and vacation homes for some time now. Started accumulating properties while employed as a hobby and recently skimmed back on the portfolio.

Recently completed the approval on a 50 lot subdivision! Good timing though

...It was one hell of an experience that I doubt I would want to go through again. At least one of this size. Had a public company in contract, but they walked and left behind their deposit

...O'h well....I've been through these cycles before and hopefully I'll get a buyer before the approval expires?

There are a few speed bumps ahead. The largest is trying to obtain a Letter of Credit for the undertaking. I have no desire to build out and no previous experience, so obtaining an LOC is troubling to say the least.

Anyway...I look forward to gaining some good knowledge from this forum.

Cheers, Paul