Hello I'm a new investor in Dayton, Ohio!

[John Kinlaw]

Hello my name is John,

I recently moved to the Dayton, Ohio area. My business partner and I have formed an LLC to concentrate on real estate investments. Our overall strategy is to acquire and flip houses in order to generate capital to buy revenue producing properties (apartment complexes ect.)

So far the only steps we have taken are 1.) we have formed an LLC and 2.) we bought an 18 acre plot of vacant land inside the city of Dayton at a treasurer's tax auction for $2000. It's not in the greatest location but something we believe we can market because of multiple factors including the fact that it adjoins to a city park on one side that has nice amenities and on the other side it has 3 ingress/egress streets that deadend on the property line with utilities that follow. We are exploring the idea of converting part of it into an community garden for a number of years until we have enough created enough capital through flipping to possibly develop the land. But we might also test the market this spring. I might be tempted to sell it if i get a high enough offer.

Question,   should I put the money up to have it surveyed and create a preliminary planned development? It is zoned as suburban residential but with a P.D. the county is much more flexible with the zoning limitations. This can allow me to create a higher density development.  I ask because this I'm of the mind that the property might be much more valuable if I can "sell the dream" for lack of a better term.  By creating a preliminary blueprint for a development.  I very much would appreciate any feedback I can get.  I am learning as I go.

Thanks for reading and have a great Thanksgiving!