Dirty real estate show
What are underutilized properties and why are they profitable?
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Mike Marshall 101
I thought I would re-introduce (or introduce for those that are new to the land entitlements world) myself.
-What are land entitlements?
-Why are they profitable?
-Why do I have the authority to speak and advise on them?
I've been talking a lot about subdivisions lately, but the world of entitlements is much more broad. For example, a great way to add value to an existing building is to change the allowed use. Typically applied to vacant commercial property, examples include changing from warehousing to residential or general office to medical office. But the changes don't have to be that substantial to add significant value. You can identify a use that would be allowed in the particular zone with the approval of entitlements such as a Conditional Use Permit. Once approved, the space can be occupied by a user that otherwise wouldn't be able to without the entitlement approval. You would be surprised how straightforward the process can actually be.
What other examples of change of use can you think of? Creativity is the key!
We help our students with these type of entitlement deals and others all the time. If you think you might be interested in learning more about subdivisions, change of use and other ways to add value to property without ever having to touch it, sign up for a free 15 minute call to see if what we offer is a fit for the future of your business.
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