Looking for land to develop

[Alexis Munoz]

I've got an investor who is looking for an opportunity to buy land in Nashville or a surrounding city that can be developed into SFDs. It'll be his first investment project in the Nashville area, but he's done it already in Jacksonville. 

My question is whether anyone here has experience working on developing land and what's the best way to go about finding land and analyzing it for development purposes.

I've spoken with him about the possibility of buying a lot in Nashville and building an HPR - 2 tall and skinnies. I'm wondering if anyone here can share any insight on development in the Nashville area.

[Angela Dulin]

Hi @Alexis Munoz, I'm an agent in town and I work with investors sourcing land for developers as well as investment projects for those who flip. As far as your question regarding the "best way to go about finding land and analyzing it for development purposes" I would first recommend figuring out exactly what your investor is wanting to develop. 

HPR build lots have a pretty standard set of perimeters which can be easily assessed on the fly. Rd frontage and depth, sqft, zoning, overlay districts etc. This info you can quickly find via metro parcel viewer. Next step would be to run it through codes. Depending on how your guy is wanting to go about finding his projects and how long he wants an inspection period it can be a relatively easy process once you know what questions to ask and who to actually talk to. 

Are there specific areas of town he is looking in? Do you know his financing options? Have you guys spoken about what his realistic profit margin goals are? 

As it seems this would be his first run at developing, SF or HPR build might be the most straight forward. Multi Unit or a mixed use development might be a bit much to start off with, but that also just depends on his resources and the team he has. 

Feel free to reach out if you have questions. I would be happy to help! 

Be well, 

Angela