 What are entitlements? I'm not talking about the high school kid next door. I'm talking about land use entitlements.
Entitlements is a broad term that includes approvals for specific land uses and/or development activity granted by a local jurisdiction. For example, Conditional Use Permits, Variances, Development Reviews and many others are examples of entitlements. This process is the first step in getting your approvals from the City and comes before the building permit stage. Getting a property entitled is one way to add massive value without physically touching the property. Stay tuned for more on this in the future.
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One of the main purposes of zoning is to protect land uses from the impacts of adjacent uses. I think this might classify as a zoning fail...what do you think?   Can you spot the opportunity?
Zoning is an inefficient construct. It's not perfect! This creates opportunities for the savvy investor. This slide is from our new course "How to Find Underutilized Properties" just released today that demonstrates that fact! Putting the finishing touches on the new online course "How to Find Underutilized Properties" and am super excited with the value this course will bring. Here is a sneak peek of a couple of slides from the course. Hope you get the chance to join the group of investors that are learning new strategies to grow their business and can't wait to hear what you all think. Course will be released Monday, June 7th! www.tolosapropertygroup.com/education   1890 flyer promoting the Hyde Park subdivision in Austin, TX. Did you know that when determining the maximum number of lots allowed for a proposed subdivision, you use the LESSER of two calculations? Total lot area(sf)/Minimum Lot Area(sf) =X ....and Density (units per acre) x acres = X Here's how the math works... Lot area = 161,172 sf Min. lot area = 12,000 sf 161,172/12,000 = 13.43 (13) Max Density = 11 units/acre 161,172/43,560 = 3.7 acres 11 x 3.7 = 40.7 (40) In this case, your maximum number of lots is 13.   Here's another underutilized property we worked on. What do you think is there today?  A single family home was redeveloped into a 12- unit detached condo project!
 Tell me you see it!!!
This is the definition of underutilized. A single family home stuck between two properties zoned and built out as multifamily. This one house can be redeveloped into 8 multifamily units and net investors like us somewhere in the mid 5 digit range. This may seem like a needle in a haystack but it's not. They're all over, you just need a system to find them at scale. |
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