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Updated over 9 years ago, 06/30/2015
Vacant Land to develop later?
Good morning, BPers,
I have done a handful of flips and holds with existing property but a deal came up on some vacant land that I am very interested in. I just don't know where to begin?
My first issue, the property is in Kentucky and I'm in Chicago. Very difficult for me to be on the ground doing my due diligence.
Also, who would be the most important person to initially involve in determining how feasible it would be to develop this land? Real estate agent, attorney, or builder?
The property is in a subdivision on public water and sewer, so luckily we don't have to go through all the well/septic and utilities fiasco but I'm still in a bit it over my head. I know the purchase price is great from other vacant land sales but the development part of the land is what is new to me.
We plan on purchasing the lot and developing next year. I know there are a million questions I need to ask and this is a VERY general question I am proposing. Any advice on what my first steps should be would be extremely helpful! ...and any advice in general would be great!
Thanks!
Brandon