All Forum Posts by: Henri Meli

@Joe Splitrock . It is actually on the lake. I know the Zoning. But, obviously it can be changed. Will take time and most likely $$$ as well. It is a very fast growing town with lots of new STEM jobs added.  

I'm collecting ideas about a hypothetical situation here. Let's say you found yourself owning 10 acres of land near 3 small size lakes. 40% of the land is buildable. You can clearly view all 3 lakes from the land. You could build any types of residential property on it: SFs, MFs, Condos, Townhomes, ... etc. You are about 5 miles from downtown, Major road accesses are nearby. Water, Utility & Sewer are nearby. Some mature neighborhood (30+ years) on less than a mile radius and newer houses on another side surround the property as well. Timeframe is 5 years and cost is not relevant at this point. 

@Greg Dickerson . I have done distressed value-add with MF and Office building. Not with Land. I'm fascinated by Value-add on land and recently purchased a few acres in NC. 

@Sean Ade I'm curious if you bought the land. What part of NC is it in? How long are you planning to hold. Some cities in NC are really growing very fast.

@Greg Dickerson . Can you elaborate more on what you mean with absorption rate?

@Carnet Williams . Looks like your bank fired themselves !!! Wish them good luck and find another bank. 

Debt is an arsenal in the toolbox. Needs to be used with caution, regardless of your investment philosophy. 

@Shane H. . I researched the county, city and state ordinance on Billboards, and it looks like it won't be trivial to do it. I have written down some numbers to talk to a few folks next week about it. I will look into cell towers tomorrow. I have found a few websites and phone numbers to call. 

@Mark Gauger . Thanks for that information. I will look into it. 

I'm curious if retaining walls are an option and the costs... 

@Shane H.  Thanks for your response. What attracts me? The combination of price, the location, the motivation of the seller. I believe there is value to it. Just need to figure out how to extract it. I could build on the buildable portion, but I would like to understand other options.

I have been offered about 20 acres of land in a very attractive location in a fast developing part of a city. The price point is very favorable and the seller is very motivated to sell. The location is near a very busy intersection and there is a lot of new constructions starting in the part of town. 

The catch is that 80% of the land is in a flood zone (marked AE, AE Flood Way on a FEMA map). The seller has disclosed that information to me and I have confirmed it through my initial investigation as well. Only scattered 20% is buildable as it stands today. I'm trying to figure out how I could extract more value from the remaining part. I haven't made an offer yet. Understanding possibilities might also help me how far to go with my offer.

I have been thinking of possibilities to best leverage the given conditions of the land. 

Things have through my head such as: 

Maybe leasing portion for cell tower (?), 

Maybe leasing portion for Billboard ( ? ), 

Maybe build a storage ( ? ) ... etc.

I'm looking for more suggestions for people who might have faced this issue before. 

Any suggestion welcome.