All Forum Posts by: Kenneth Bell

Quote from @Jay Hinrichs:

its not realistic to buy land before the rezone has been done.. what happens if it fails.

Unless the rezone is basically guaranteed.. also the issue is cost of money holding land that long .

I help fund a large project out of the springs where it was bought prior to approvals but it was already properly zoned so it was just prosecuting the map under the given zoning and that still took a few years. However I would not fund a deal based on a rezone unless it was a screaming deal and it could be sold as is for the current use so we did not lose money.

I will 100% agree with @Jay Hinrichs. You don't buy land and then entitle it unless you can sell it and still make money if your plan works. My contracts for land are contingent on the land entitlement being successful that way I am only on the hook for my pursuit and rezone cost if not successful. I don't know any developers that do it any other way. A bank will be way more likely to loan on land already entitled. 

@Jay Hinrichsundefined

Quote from @Blake Novotney:

I am over in Wilmington NC, I see a lot of larger land deals just outside of Wilmington. How large of projects are you looking for? I know of a few 100+ acre opportunities out there.

 Hey Blake, I am looking for sites probably in the 2 to 10 acres and I want to be as close to Wilmington as possible!!

Quote from @Angie Castro:

Hey KB! Nice to see you here. If you are looking into land deals for other states I would suggest narrowing down your search for certain cities and put the location of your question in those. That way you can reach people in the places that you are looking to invest on. Good Luck!

 Thanks Angie!! I used to be on here a lot and loved it. I am looking in Charlotte NC Metro , Raleigh NC Metro, Kansas City in town areas, Wilmington NC , Greenville SC!!

Quote from @Eddie Auguri:

Quote from @Kenneth Bell:

As long as the land is developable and the price of the development makes sense will sales. This is very common. I will tell you that access to utilities and other factors will play in the price. 

 Are there any rules of thumb that most developers use to get a sense if a potential deal is at least worth looking at?

At the end of the day land value is bases on what you can put on it. Zoning, access to utilities an location are the biggest factors in value. With this information and comps you can see what  will fit on a piece of property and then get closer to an actual valuation.

As long as the land is developable and the price of the development makes sense will sales. This is very common. I will tell you that access to utilities and other factors will play in the price. 

Hey everyone I am a developer in NC. I do land entitlement for multifamily projects. I am looking to branch into other states. I want to know who does the same. I have 35 door townhome complex that goes for rezone vote tomorrow.  I am looking to source land deals in other areas.

As long as the land is developable and the price of the development makes sense will sales. This is very common. I will tell you that access to utilities and other factors will play in the price. 

I would agree with @Greg Dickerson development is not something a one size fits all e-book will get you anywhere but in deep trouble. Building a home on an existing lot and developing even a small 1 acre parcel of raw land are two totally different undertakings. Two nuggets to remember forever

1. research every aspect of a piece of dirt before you buy, zoning, availability of utilities, soil condition, grade, previous land use and a ton more!! DONT SKIP THIS!!

2. Highest and best use

@Scott Meyers Scott I actually have a 13,000 square foot commercial building that I am thinking of converting to possibly a storage facility. Is that too small a building to make work? I am also a general contractor.

I am a developer and GC in charlotte. Let me know details and can get you quotes