Capitalizing on Raw Land

[Sandy Preston]

So inherited 17 acres from my parents that is free and clear. My parents originally purchased 20 acres and developed 3 acres of it by both building rentals, which they sold, and selling lots. There are 17 acres still undeveloped at the back portion of the property. I am looking for the best way to develop the remaining land with 2 goals in mind. First profitability, return on investment and raising current property values in the area. What are the best avenues to do these two things? The land has to be cleared and a road will have to be put in. What do you recommend. It is located in a town with 2 colleges and a military base and 2 larger hospitals.

The property is just outside the city limits.

[Greg Dickerson]

@Sandy Preston  first steps are to determine the highest and best use based on the demand and surrounding uses. Once that is determined you look at maximizing the density. There’s a whole lot more that goes into executing on the plan but this is the first step.