All Forum Posts by: Cordell Critchell

Hi, 

As to the getting the land rezoned before buying it can be tricky. If you got the land rezoned, the seller who still owns the land can argue it is worth more. It comes down to risk vs purchase price.

I purchased agricultural land that I am in the process of rezoning. I am making individual 5 acre lots creating a total of 7 lots. This land per current zoning requires 5 acre average. So I am not actually asking to do more with the land then what is allowed. Others in my area have been successful in my region in getting land rezoned to higher density. But the town has now caught on and is against rezoning any additional lands. So you can caught up in local politics. But it seems that the town is supportive of your goals. Hope that helps just a little!

The upside to that risk is that it can be very lucrative. Of my 7 lots, I will have more than broken even after two lots are sold. So that last 5 lots will be pure profit. Good luck!! 

Nice @Ed O. work. What where the parameters of the 32? How big was the original lot, purchase price, and sale price of the lots? Did you run into any problems? How long did it take from time of closing to sell the 32? 

What size are you looking at getting now? 

https://www.biggerpockets.com/... 

Hey Jeffrey, 

Mehta size investments are you looking to get into. With land purchase and building, depending on location could be light years apart and so would the approach. I was introduced to episode 168 of the podcast and have enjoyed https://podcasts.apple.com/us/...

This is a slightly different podcast that I find helpful. Haven’t found a ton of books. 

But I would say find anything and start practicing running a proforma and reach out to a contractor in your area if you have a relationship with one and get some ballpark numbers. Obviously all this is driven by if your building to hold and rent or sell. 

I am currently developing 35 acres into lots and running numbers and trying to Find the right builder and build 1 or 2 holes while selling the others as ready to build lots. 

Good luck

Thanks so much for the info @Ed O. I will certainly check that out. I will keep posting to this thread and maybe this can become a small source of information on the topic. 

What type of project did you develop? All in Montana? 

Hey Scott, 

I have 35 acres of farmland that was used to grow grass for cattle. I am looking to keep current zoning and not deal with the headache as I learn, so looking for 7)  5-acre lots bring a country road, power, and fiber. Owner has around 175 more acres of land. Hoping to bring to market next summer. 

I am working on developing raw land. Pursuing both building and just creating ready to build lots. But also trying to find more information and people doing the same thing. Looking forward to other comments. 

Hi Everyone, 

Thanks so much for all the information. It is wonderful to hear from other people who work in development that I can talk to. It is a big leap and nice to talk with others. It is nice to know I am at least heading in the right direction. I purchased 35 acres of farmland outright and looking to turn into 5 acres lots (to avoid rezoning hassles) and I have to bring power and fiber as well as a country road to the lots. Not looking to build anything at the moment and try and learn from the processes. I did hire a local surveyor and engineer and plan on getting the necessarily documentation and boring samples to show the land supports wells and septic (whole valley is this way and got a quote from the one and only well company and they felt confident from local wells it wouldn't be an issue). Hopefully I will be able to legally sell the lots next summer. 

Hi @Will Fraser 

I sold in SLC and my development is star valley Wyoming. Have you done work in SLC? Working on a current project?  

Looking to connect with local investors. I am currently developing raw land as ready to build sites. Excited to meet other like minded people.