i live in Michigan, in a rural/suburban area. I have a 2 acre parcel and I want to buy some land surrounding my parcel. The surrounding parcel is 200+ acres of farmland, but most of the adjacent land is wooded/swampy, with some upland area. The 200+ acre parcel of farmland is owned by a not-local residential developer with no plans to develop the property currently. I serve on the local planning commission so I’m in the loop on all development proposals.
My question is – how should I approach this? I’ve spoken to the owner before and he’s a typical developer, and seems friendly enough and approachable, but definitely always mindful of the bottom line. I’ve researched some of his work and he appears to be an above-bore guy who likes to put in quality developments. Should I just cold call him again and say, hey let’s make a deal? Should I get a realtor to draft a letter and include a drawing? I’m going to refi my mortgage and buy the land with that, which I have plenty of equity to do so, so should I approach the bank first? What’s the best way?