Say, the property is going to cost you $150 per square foot to build and you expect a return on your investment at 10 percent. So, 1,000 square feet at $150 equals $150,000; which means you expect to get $15,000 back after your expenses, including management fees and debt service on the property, and some reserve. "Although in today's market, the return on investment is less than 10 percent and more like 6 percent. Calculate the most you are willing to pay the seller based on the outcome of your cost analysis," Veissi advises. Once you have done all of the analysis and appropriate planning, he says, you still need a contingency. You can think you have it nailed down and all of a sudden something crops up, unsettling your plans, he explains.
Land Agents have Expertise: True land professionals know how to price and market properties effectively. Any agent you are hiring should be able to clearly articulate their strategy for selling your property. A good agent will employ multiple prongs for engaging prospective buyers, including advertising in print media (when appropriate), on the internet in key places people look for your type of property, and other avenues such as signage or word-of-mouth. Good agents have a proven formula for attracting the attention of quality buyers. I have my own multi-point system that I use for each listing that generates results.
Learn to evaluate the risks and rewards of subdividing land into residential lots. In this first of three articles on the subject, a developer and real estate lawyer provides landowners specific items to evaluate when considering whether or not to subdivide land. Come back for the next articles in this series that provide insights for landowners based on the author’s real world experiences with the subdivision process, as well as a hands-on description of the steps landowners should take when subdividing land.
My only real complaint with Zillow is with their video feature. While I'm certainly glad they provide ANY options to add video (unlike most of the free listing sites I've come across), I'm not a huge fan of their 2-minute self-shot video option. It's not easy to show a property in it's best light in under 2 minutes and/or by only using the camera in your pocket. It's unfortunate that they don't offer the ability to upload or embed a higher-quality, better-produced video. If they added this option, it would be a MAJOR improvement to their FSBO listing platform.
I am currently listing a 10 acre piece of vacant land, which is zoned R-1, in Hesperia, California. The seller states the property can be zoned commercial. I spoke to the planning department and they stated it is zoned residential. My client is totally convinced they are wrong and it can be switched if someone pitches a commercial rezoning presentation. What is your take on this?
I was contacted by FNAC about acquiring the note on the house that I have been owner financing. The representative I dealt with was Terrell Wade. He explained everything to me and assured me there would be no cost to me for their company to get all the paperwork they needed to close this transaction. I was very pleased with his professionalism and courteous manner as he explained things to me and answered all my questions.read more
BIG TIME CLASSIFIEDS at http://www.BigTimeClassifieds.com is a great new two year old free classifieds site offering free ads, unlimited text, hyperlinks clickable directly to your site and even video to bring your ads to life. Categories for Real Estate, Boats for Sale, Electronics, Services, Products, and pretty much everything. New User Accounts are OK’ed usually within a couple of hours. Just don’t over post the same item or service or they remove your account for life. Excellent SEO at this site for your ads – be sure to enter keywords.
I’m impressed with the amount of effort that went into putting this article together! And I can also say that these tips are all great. People don’t understand the power of the internet, and how many free resources there are out there when it comes to selling your house. I’m glad you put this together, this is some really valuable information! I buy houses in south texas and I will be sure to share this article on my social sites! I’m always looking for valuable content to share. Thanks!
Rule #18: Before traveling to view a promising parcel, check the county assessor’s website using the parcel number. Some are VERY helpful, containing all sorts of information such as what areas are known for landslides, flooding, wetland/buffer areas, contamination, noxious weeds, etc. The sites also give past purchase pricing and tax information, and sometimes even if there’s been “issues” with the land (such as a previous owner building unapproved structures which they may have had to tear down, leaving a foundation for you to deal with).
anyone interesting in commercial land on busy road? very close to i279 north of pittsburgh pa area and its permit allow to rebuild home or parking lot or something of business as well. last price value is 12 k but not sure what it is worth in value it is on 3856 east street... 15214... 2041 sq feet formerly warehouse was there and the land is cleared out... with fence...
Thank you very much for the write-up. I learnt quite a great deal, being a novice in real estate business. As a matter of fact I stumbled on your article while searching for information about possible investment opportunities on a piece of land. One of our client conferred a nine-hectar piece of land to us and we’re considering what investment would be appropriate on it. That’s what pushed me to start searching for things to do before investing on a piece of land, and I must confess that your article provided 95% of the answers. Thank you again. I guess I know how to go about it now, who to talk to and what to look for. In case you’d like to know where I’m writing from, I’m based in Douala, the economic capital of Cameroon (Central Africa), a country so geographycally blessed with a long history of political stability and an accomodating business environment. If you happen to think of an investment opportunity in Africa put Cameroon on your priority list. Let’s keep in touch.
Its the perfect time to sell your land and develop. With the housing market on the up and the need for housing never more apparent, its greatly welcomed to find articles like this helpling the layman find his way through what can be considered a complicated process. http://www.richardhicksdevelopment.co.uk can advise on this process, help gain permissions and hold the land owners hand if needed. Happy to help if anyone needs further advice following this helpful article.