All Forum Posts by: Ilan Cohen

Hello BP Community,

I'm seeking your advice on the most effective ways to connect with land developers in the Atlanta area. Our team specializes in preparing land up to the LDP stage, including handling all necessary entitlements, and we are looking to partner with developers who are interested in such ready-to-develop opportunities.

Could you share any strategies/tips on connecting with developers here? Any specific networking events, forums, or groups within BP or outside it that you have found valuable? Any guidance or recommendations you could provide would be greatly appreciated.

Thank you for your time and insights!

Thank you Bryant for the response. Can you clarify to which phase of the land you referred? ... I believe you meant to a ready to build lot.
What would be the ratio for raw land before and after LDP?
This is extremely helpful. 

Reaching out to the savvy developers here for a bit of your expertise. I'm currently considering an off-market potential deal in GA and would like to do a quick sanity check on my underwriting with your help:

• Land Size: 96 acres
• Development Potential: Zoning allows for 3 houses per acre
• Location Perks: Public water. Septic sewer.
• Market Data: New constructions in the vicinity are selling for around $750K.

Looking for your quick, back-of-the-envelope insights on what might be a reasonable ballpark offer for this land. 
What should be the value of raw land (in percentage) from a given price of a built house ($750K)? and what should be the value of the raw land for each lot once LDP is provided. 

Thank you in advance for sharing your thoughts and helping me refine my underwriting!

Hello, Community!

I'm a real estate investor with a strong track record in deal-making, now targeting major land tract acquisitions.

I'm looking for a civil engineer to join me in assessing and developing these properties for sale to national builders. If you're interested in a collaborative venture that combines our expertise for mutual success, let's connect.

Looking forward to potential collaboration!

Rick -  Congratulation and I wish you great success!!!

DM me, I have our LOI format which I can share happily.
And we can provide more then that as well ...

Taylor thanks for the information. I am considering entering this niche of raw land space, in addition to our pursue for MF stabilized opportunities. 

How would you recommend me to educate myself in the raw land space? 

Hi,  

It was very difficult for our group to find new Multifamily opportunities (80-200 units) in the markets that we are focused on. The market are very hot, it's very hard to find deals that the numbers are making sense for us and the opportunities are sometimes being sold in ridiculous numbers. 

This made me wonder if the current situation will affect the demand for land? specifically Commercial Use Land, which can be developed for multifamily project?

Where do you think would be a good resource to learn about land trends? I couldn't find any forum topic in BP that is focused on land. I would appreciate if you could refer me to a resource that I can learn from.

Thanks for your response

:) 

In addition to what mentioned, I would also add that being honest is extremely important. Obviously you are not going to buy the first opportunity that they will share with you. However I would use this opportunity to show them how you underwrite the deals, how serious you are in the market, and in case you ending up not moving with the deal they shared with you , you have to be straight and tell them that eventually it will happen and let them believe in you. 

I think that there is a tendency to exaggerate with the weight given to the Cap Rate factor.  You need to understand that is only a thermometer of the designated market. 

In order to understand the Cap figure in the market, simply ask any broker.