Being an active real estate investor I am constantly looking for ways to make money in real estate. In addition to being an investor I also have a college degree in Urban Planning and, in my opinion, I look at deals a little different than other investors. So I would like to just touch on the issue of possibly sub-dividing a residential lot to increase its value.
In this day and age, building lots are getting smaller and smaller with new construction therefore, cities are constantly examining and altering their zoning regulations to accommodate new development practices and population growth. On occasion, investors can take advantage of these changes.
If a home was built many years ago on a large parcel of land it could be worth the time to see if the zoning for the area has changed to allow for smaller lots. If the zoning has changed an investor could potentially increase the value of the investment by sub-dividing the lot and creating multiple lots. And remember lots can be sold without any improvements so just going through the process of sub-dividing could be beneficial.
The point I am trying to drive home is that when you are looking at properties keep the possibility of sub-dividing the lot in the back of your mind as a possible investment strategy. It could be very profitable.
Being an active real estate investor I am constantly looking for ways to make money in real estate. In addition to being an investor I also have a college degree in Urban Planning and, in my opinion, I look at deals a little different than other investors. So I would like to just touch on the issue of possibly sub-dividing a residential lot to increase its value.
In this day and age, building lots are getting smaller and smaller with new construction therefore, cities are constantly examining and altering their zoning regulations to accommodate new development practices and population growth. On occasion, investors can take advantage of these changes.
If a home was built many years ago on a large parcel of land it could be worth the time to see if the zoning for the area has changed to allow for smaller lots. If the zoning has changed an investor could potentially increase the value of the investment by sub-dividing the lot and creating multiple lots. And remember lots can be sold without any improvements so just going through the process of sub-dividing could be beneficial.
The point I am trying to drive home is that when you are looking at properties keep the possibility of sub-dividing the lot in the back of your mind as a possible investment strategy. It could be very profitable.