Investor · Los Angeles, CA · Member since 2016 · 577 posts · 240 votes
9y
Melissa.
This is a very risky place for someone who is just getting started in REI. I'd save this type of thing for once you have done a couple of projects under your belt. There are many things that can come up when you do this. There can be permitting problems, problems with the land, problems with contractors. I think that it is very risky. I am doing one ground up project right now and it is difficult and taking a long time to get the permits. Longer than we expected.
Investor · calgary, alberta · Member since 2015 · 129 posts · 51 votes
9y
Still seeking permits after a year long permitting marathon here. unfortunately the local government does a lot of market meddling and continues to ratchet upward requirements and fees on an annual basis. I pity anyone trying to get started building new in this regulatory environment. the opportunity cost to go from land deal to turn key can be enormous, so know what you are getting into before you get in.