Unimproved raw land is the most simple way for ordinary people to gain a foothold into the world of big time development.
Simply, it is the way most big time developers started because land is the cheapest and easiest form of development there is. The reason why is because land, raw land is a blank canvas.
The quickest way to make a good profit on land is rezoning.
A wife of one of my associates not long ago had a vision about a parcel of land on the outskirts of Boston Massachusetts where they lived.
These 5 acres were well out of city limits, but not for this reason, the land was very cheap. It was unusable because it was zoned for residential development but it was on the main highway which made it unsuitable for families.
These 5 acres would have been perfect for a commercial development with a gas station and some retail shopping facilities because there was a nice residential development at the rear of the property, and there was no real services. The highway frontage gave it a perfect aspect for passing traffic exposure.
Any main franchise or chain of stores like walmart would have been very interested in the numbers of passing traffic.
And they were......
My associates wife was very dogmatic in her vision and she believed in the purchase. She gained legal control of the land and proceeded to find a buyer. But first she rezoned the land by appealing to the local land authority. They saw no problem in the rezoning and a 5 acre plot of land that was previously unwanted by residential retail buyers, was now in high demand by commercial retail buyers.
She had an option to purchase on that parcel for $30,000 and she settled not 4 months later on that same parcel with a new commercial zoning for $3.6 million to a higher level developer.
Not bad?
I'd agree.
Total out of pocket expenses were $849 for the forms and the council requirements.
Better then a lotto ticket?
My very best to you.
Jack Reynolds was one of Martin's students, he was a broke Insurance salesman only 2 years ago, today he owns assets valued at several million dollars. What did he do in 24 short months? You can read about Jack's remarkable and rapid transformation and download Hayden's famous book "The Million Dollar Mentor".
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