Winchendon land inheritance- what to do with it?

[Karen Faulkner]

Any advice on what to do with a large plot of land in Winchendon, MA?  I know nothing about raw land and its potential. My husband is inheriting this and will co-own 50/50 with his uncle so I would love to hear advice since I don’t even know exactly what to ask, who I need on my team, how much we are looking at to spend initially even assessing/appraising it, and what the potential is for it.  Anyone have experience in this area or connections? Thx! 

[Kristi Kandel]

Quote from @Karen Faulkner:

Any advice on what to do with a large plot of land in Winchendon, MA?  I know nothing about raw land and its potential. My husband is inheriting this and will co-own 50/50 with his uncle so I would love to hear advice since I don’t even know exactly what to ask, who I need on my team, how much we are looking at to spend initially even assessing/appraising it, and what the potential is for it.  Anyone have experience in this area or connections? Thx! 

Hey Karen! I've been a real estate developer (nationwide) the past 17 years. I'd recommend speaking with the planning department to identify the allowed uses and what they think would be a good fit for the area.

Below is an excerpt from some of the tools we've created for initial due diligence.

• Research the Authority Having Jurisdiction’s Code (AHJ) to identify where the AHJ will allow that type of use
  • Find the zoning code on the AHJ’s website google “zoning code for XYC city, state”
  • Identify the zoning designations where your use can be permitted
    • See LINK HERE to an example of zoning designations

Also, if you decide to develop it or even just to talk to commercial brokers here is another link to useful documents for finding/vetting your team & partners: https://drive.google.com/drive/folders/13Z0B7mV--YRtVN3TJhez...

Feel free to send me a DM if you'd like to connect further.

[Karen Faulkner]

Thank you so much! We are still working through an attorney to get the property out of probate but hoping to start working on researching what to do with it in February as we hope to have all the paperwork in our name. We need to decide if it’s worth buying his uncle out and not sure what to offer.