Rezoning Big Parcels To Residential For Big Pay Days

Land Investing
1

Hello Everyone!

Yesterday myself and an investor got a 9.70 acre lot with 1000ft of road frontage for $17k!

The problem right now is that the property is zoned industrial so we got the property into a P&S so we can petition the town to rezone the property. If this property gets rezoned we are looking at 8-13 lots buildable lots. Which means a $200,000-$300,000 profit!!! WTF! (PROPERTY CARD SAYS R1 ALREADY SO WE HAVE A GOOD CHANCE) (Investor Is Putting Up The Whole $17k)

I think is may be a great way to get great parcels with extremely motivated owners. Its just a time consuming process. (Rezoning will take about 4 months but we paid no down payment)

But I've been doing this for almost 3 months and I'm still trying to get my first wholesale to get some capital up. I'm on to the last campaign I can afford. I'm just about 3 grand into this so far.

DONT GIVE UP IN YOUR DREAMS!

2

That's awesome to hear @jaydensdad7317! Keep us posed as this moves further along.

Are you planning to subdivide the property as well, or just change the zoning and sell it off at that point?

3

@jaydensdad7317 Curious if you subdivide into more commercial lots if its worth more than residential?

4

Congrats @jaydensdad7317! If you don't mind sharing, how did you find this particular property? Was it on the county's tax delinquent list and just happened to work out this way, or are you specifically filtering for industrial/commercial properties from list providers to look for opportunities like this? If you weren't doing the latter before, are you thinking of doing so now based on this deal?

5

What is a P&S?

6

@SuitedConnector P&S = Purchase and Sale Agreement (aka - Purchase Agreement)