assess if the investment is economically feasible.
Land Development Process
Any type of investment must be able to generate consistent cash flow. Land development is the best investment opportunity. Land is a scarce resource that makes it very valuable today. If you purchase a piece of land in an area that’s headed toward development, your land’s worth can exponentially increase than your purchase price.
Of course, any investors should perform their due diligence thoroughly when entering this business. It’s critical to educate yourself on the market you plan to invest in, and understand when to buy and look at the growth in the surrounding area.
When buying a piece of land, there are a few things you should look into first, including the features of the land and factors that could limit the potential for development. Here’s a checklist of things to consider when buying a land:
Identify manmade and natural features (wetlands, steep slopes, floodplains, historic structure, etc.)
To find out about existing restrictions and easements, obtain a title report
Understand the permitted use for the site
Know the site regulations for your proposed use
Obtain zoning approval
Make sure you know if the site is connected to utilities like water and sewer.
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