Knowing Colorado subdivision rules, well permitting, and some general construction knowledge helped make our deal swing.

Property development- applying for well permits with the State of Colorado, working with architects, water attorneys, civil engineers, consultants, Douglas County planning and zoning, and Cherry Creek Watershed Authority.

.* understand delivery timelines, TI schedules, and general construction process/permitting for you and the end users.* have identified the most likely tenants for the development in question, and understand the building criteria each have for spaces.If you haven't answered "Yes" to each of the above, I would recommend pausing until you have the above nailed down.

@Yates Harris, have you reviewed the HOA bylaws to see if leases of less than 12 months are permitted in your community?

I wouldn't necessarily say that this shift is here to stay, but we definitely have to make some changes to our acquisition process to accommodate creative deals and novations.This shift is due to the saturation of the major markets, resulting in newcomers in the business offering too much for properties and not delivering on those promises, realtors promising too much for listings only to have them heavily decreased or canceled six months later, and the small increase in supply that we have experienced since the beginning of the year.But yes!

Plus the holding costs and permit costs if it’s more than paint/carpet.

I would start there for your permits etc.

Here is my expected cost:Land: $475kAcquisition Costs (Environmental, Survey, Geotech, Traffic Study): $25kSoft Costs (Engineering, architect, impact fees, permit, legal, closing costs, taxes, interim interest): $300kSite Development Costs: (Earthwork, underground utilities, curb cuts, fencing, stormwater, paving, landscaping): $800k ($400k/acre)Subtotal before vertical costs: $1,600,000 ($80/SF). 

Ft)The first thing Ilook at before viewing a property is the permit history.

Advice: 1) Check out the permit status with the City - ask for open permit vs closed permits.