One very interesting thing that HTR does is develop subdivisions. They have many subdivisions throughout eastern NC, with the majority in Johnston County. These residential developments are the freelance component of business, with the residential listings being the steady stream of income. Essentially, the subdivisions are the slam dunks, where there are multi-million-dollar profits, and the residential listings are the relatively consistent base. To mitigate some of the risk, they will often buy land, develop the lots to the point where they are “contractor ready” and sell the individual house lots and construction plans to builders. Also, they set it up so that the builders are contractually obligated to list the finished houses with HTR agents, so they also turn a profit on the back end of the development. This method of development slightly reduces total profit, but seriously reduces financial risk, which is crucially important when funding projects with private money. The featured image for this post is the blueprint of a massive 318 lot HTR subdivision that is currently under development in Wendell, NC called Maggie Way that is being developed using the strategy that I highlighted earlier. (https://www.maggieway.com/floor-plans). (look at the website if you want to see more about it).
