Is there such a thing as a ‘feasibility study’ for land deals?
In the self-storage space, people will pay several thousand dollars for these without blinking (I paid over $6K for mine a couple of years ago). It answers all of their questions about supply and demand, pricing, construction costs, the recommended kinds of units to build, etc. It’s very helpful information and answers a lot of questions with trustworthy information.
I imagine a simple land flip would be much simpler and could be priced much lower, or maybe limited to very specific projects (like a platted subdivide or something).
For certain deals, especially the bigger ones, if the information is thorough and accurate, I would pay pretty good money for a package of trustworthy, verifiable information that answers all my questions.
Sure, I can do all this research myself, but I may not have access to every last piece of information, and I may want someone else to cross-check the same information and see that they’re coming to the same conclusions.
Does such a thing exist?