For some of you, this will mean nothing. You will continue doing business as usual. For others, this may be just the thing you've been waiting to hear. Not many people will put it out there in quite this way.
I listened to a podcast the other day where there was a land investor being interviewed that had become very successful. A key part of his approach was his negotiation strategy, which to me felt very heavy handed and potentially lived on the edge of ethically questionable.
It reminded me that in order to create value, you're either going to have to take value such as buying at big discounts, or add value by making physical improvements or in our case, with entitlements like subdivisions, zone changes, etc.
But let's be honest, many "investors" are out there creating their profits by buying at the biggest discount they possibly can. But to do that, you either have to be capitalizing on someone's ignorance or their unique life circumstances. Don't get me wrong, I am all for getting a good deal. But at what point does a good deal become a bad deal for the other guy? I acknowledge that every seller is a grown up and capable of making grown up decisions. But does that justify capitalizing on ignorance and circumstance?
I think that there are many investors out there that understand this but don't know there are other options or don't know how to go about implementing these strategies as a part of their business. I suggest that everyone learn a new skill that helps you add value rather than extract value and see how that does for you. You may be happier in the end.
rezoning gone wrong...
Not all rezoning requests just sail through the approval process. Some of them turn out to be outright disasters. But you can avoid those missteps by learning from the mistakes of others. In St. Tammany Parish, LA, Dollar General was attempting to get a property rezoned because it only allowed for buildings approximately 5,000 sf in size. Rezoning the property would allow them to build a building closer to 10,500 sf in size. This property is located between a daycare center and an apartment complex. In other words, there isn't many commercial uses immediately nearby. That should have been the first red flag. Even though the property was zoned for commercial uses, approval of the request would have doubled the size of the building which would potentially double the impact of the proposed use. Traffic, noise, light spillover and more were all key aspects of the neighborhoods opposition.
Don't go against prevailing development patterns
Traffic is always an easy target. Have answers for these complaints
Get support of City staff and officials early in the process.
Rezoning doesn't have to be controversial. These requests do get approved often. If you want to learn how to put yourself in the path of these deals, set up a quick 15-minute call to see how this unique strategy can fit into your existing business.
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Our purpose is to inform and advise investors through next level education and services so they can distinguish themselves in their market.