Land Development

[CafeMonkey]

Hi guys,

I just came across 90 acres down the street in a very desirable area... I want to do something with this, but I'm not sure what.

Does anyone know what to do when you want to develop land, but don't know anything about development?

[focusagent]

What's the asking price for the land?

[blueprints1971]

Its it cleared or raw? As to what to do....that would be based on whats in the surrounding area, cost of construction, and potential income....most importantly is your financing.

[CafeMonkey]

Asking price is $1.4mil. Other nearby lots are going for $75k per 1/2 acre. It's about half cleared, though I haven't walked it yet.

that would be based on whats in the surrounding area, cost of construction, and potential income....most importantly is your financing.

I have a buddy that's a builder looking at the plat, and he's trying to figure out how much of it is usable (there's a small cemetary), and how far it is from sewer, what kind of roads we need to plan for, etc.

I haven't looked into the rest of the "surrounding area", but there is one ajoining parcel of 250 acres that has been approved for R2 lots.

Does that help any? Where should I go next?

[HMiller]

Developing the land can mean several things. It can mean going all out and actually building and selling homes or it can mean just subdividing, getting approvals and putting in roads and then selling off the lots to builders or individuals.

If you've got the means to purchase the land and are very interested, an experienced engineer from the area is invaluable. Your builder friend probably has some experience and should know some engineers. For a fee, the engineer can do some preliminary studies and write up a report based on a number of factors (zoning, wetlands,...) and give you a rough idea of how many lots you can realistically expect to get. From there you can decide whether to pursue it.

[highdesertagent]

send some of thos hard money lenderd and builders. i have plenty of land. check it out here .. there are alot of factors when one wants to develop.. what are set backs, what is zoning, can property be subdivided, does it have blueline, what are the mineral rights, what is the city or county ordinences and requirements. it may be under a general plan that will not even benefit a developer.. also check and see wher sewer is. i haev property that many people sought for and learned that sewer will be a bigger expense then what the land is priced at.