Flipping Land in Pittsboro NC?

Pittsboro land sales expert Eric Andrews explains that in 2017 and 2018 people are indeed flipping land in Pittsboro and Chatham County by developing the land.

Eric has built 5 subdivisions where he was either the 100% owner or a consultant or partner.

A big deciding factor when purchasing land is the sewage, if city sewage is available or not and if the land passes percolation tests. Other misc expenses include:

  • soil evaluations
  • per permits
  • surveys
  • legal expenses
  • recreational fees
  • recording fees
  • draft covenants
  • draft road maintenance agreements
  • erosion control plans
  • buffers
  • marketing

Land values are appreciating in price, so some people are buying and holding land.

Another important point is that developing land and houses is a cash only game.

Eric explains subordination and more in the video below: