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Updated over 5 years ago,
Rezoning Arlington Tx
Hello BP Community,
I came across a pretty attractive deal with a wholesaler for a good size property. (+1 Acre). Although the zoning is a bit different than what the rest of the properties that is surrounded by. If you can break that property in smaller plots and develop 3 or 4 properties, it might be a great deal. Unfortunately I am new with rezoning processes, I am afraid of having a "sitting duck" that will cost me a fortune on holding costs.
(The current zoning is from Residential Estate and I want to rezone it to Residential Single Family)
So my questions are:
- What is an average time for a rezoning process?
- What should I expect from holding costs with regards the property? (Considering it would be a knockdown/build opportunity)
- Is the rezoning process difficult and what should I be aware off? (Considering I am a new Real Estate investor I am having a lot of second thoughts)
Any feedback is welcome and appreciate it!
Thanks for taking the time!
FT