Long Beach, CA · Member since 2012 · 6 posts · 0 votes
Hello BP Community,
I am working with a developer looking for 1 to 5 acres of discounted land in Los Angeles or Orange County for low income housing development and to develop for returning or struggling Veterans. The hope is we will find a deeply discounted property or property donation for a full tax advantage. The entry numbers will need to be kept modest to make sure the numbers work on exit.
Currently my methods to locate the property have been:
- researching the APN of vacant land to locate owner information and try and contact the owner (Title Search);
- reach out to Commercial Lenders/Bankers;
- contact city redevelopment; and now
- the BP investment community for more productive method of finding the proper land, proper zoning, no soil contamination, title or right of way issues.
I am at a bit of an road block and would appreciate any constructive ideas the BP community is willing to provide. Thank you for your consideration and thoughtful submission.
What about city Planning and Permits? or do a google search and find a superstar real estate agent or broker in the area. Do this by searching active and solds within the last year. If you see 1 or 2 agents that are moving volume like crazy, contact them. See which builders/developers they are working with. Contact the developers and see if they any excess land.
But I will say, having lived in California most of my life, these areas are not cheap. LA is really developed and Orange County is Expensive.
Los Angeles, CA · Member since 2016 · 29 posts · 9 votes
9y
Hi Kimberly,
I just came across your post and wanted to see if you were able to find the resources you needed for your low income housing development for Veterans. I'm currently working with low income individuals and Veterans and my clients can really benefit from low income developments! I would love to hear what your progress is as I would like to eventually buy discounted properties for low income housing.