Blount Development Group, LLC is based out of Leesburg, Fl. From this base of operations, this company has continued to expand across Florida and into the Southeastern US. The company specializes in locating housing developments that have stalled due to financial issues and then acquiring them for themselves or their investor partners. They also aquire large land tracts suitable for future development.
I have known the Rick Blount, President of Blount Development Group for nearly 20 years. Recently, we have been discussing the pursuit of local subdivisions in the Lake County and Sumter County area that are failing. For those who don't know, over the last decade, Blount Development has successfully purchased and resold millions of dollars worth of land in the area, and has been expanding to other areas of Florida, Georgia, Texas, and a fairly large development in Tennessee.
Rick Blount, President of Blount Development Group, LLC explained that his company's success has caught the eyes of many financial investment firms, and raising money is no longer an issue. He went on to say that most of the investment firms that are backing his firm are looking to invest heavily in Florida Real Estate, and are very actively seeking primarily pre approved subdivision projects in the 5 to 25 million dollar range. The consensus is that the right projects in Central Fla are quite a bargin and these investment firms have huge resourses to buy now and hold for the future market rebounds.
Jason Blount, Vice-President of Blount Development Group LLC, is also heavily involved in Project Research and Acquisition. He also explained that finding troubled projects is getting easier due to the market slowdown, but choosing the correct ones to invest in what has made Blount Development Group successful. Our job is to Find, Fund, and Finish these projects. So site selection is extremely important. At this level, making mistakes is not an option! We have to determine why the first developer failed, and research the data to determine if the project can be turned around with a profit. That is our goal on every project. Once you have proven your company can find and fund some larger projects on your own, from start to finish, then other companies will want to be involved with you in the future.
Blount Land Development, LLC is growing rapidly. Recently, Rick Blount called me to discuss if I thought my expertise in finding and performing deal analysis on distressed homes would transition over to doing the same with whole subdivisions. After careful examination of the business model, I have made the decision to accept this challenge, and will actively seek the support of my Active Rain Associates. This is a big step for me, and I am very focused on making this transition. The stakes are much higher at this level, but till now my biggest hold up was in finding the money to get deals done.
That apparently will no longer be a problem....We will make the move officially by March 1, 2008. I will need a few weeks to get up to speed, but from what I have seen, Blount Land Development Group is soon to be a very recognisable name in Land Acquisition Business in the Southeastern States.
I am proud to have been chosen as part of their growing team...