Los Angeles is a beautiful state with some of the best beaches in the world. This island also has a beautiful landscape filled with mountains, rainforests, and waterfalls. Los Angeles has a vibrant social scene with beach bars, casinos, and a hotel strip. Edmond masjedi is one of the best Real estate adviser in the county.
In other words, the island is a location every land developer should be interested to learn about. But how do you find the right property to pitch to a developer?
Land developers usually have a specific goal in mind when they acquire a property. It doesn’t matter whether the property already has existing structures. To choose land that will attract land developers, you have to know what they are looking for. Edmond Masjedi is here for you to tell everything. Read this.
- Economic feasibility
A developer is looking for a property that will be profitable in the long run. The numbers have to make financial sense. The chances are that you will go home with a hefty commission after selling to a developer. However, it is essential to keep in mind that land developers work with a budget. The location you propose and other costs have to be within their budget.
- Developers look at the land
Land development involves changing the landscape of any existing property. That said, it doesn’t matter whether the area you are selling already has buildings on it. You have to defend its ability to make a good return on investment once purchased. Don’t start talking about recent renovations or anything about the existing property on the land unless asked. Most land developers demolish any existing property to build their new ones.
Developers want to know if the land they are buying allows them to construct the buildings of their choice. If it is a residential building, how many apartment buildings can he build on that land? How many floors can the buildings have? You need to know the zoning codes in your area when choosing land for developers in Los Angeles.
4. Minor restrictions
Restrictions are somehow tied to zoning. For example, if the property you are selling is close to a tree protection zone or a habitat zone. The land might appeal less to a developer because it might impose some restrictions on his property development plan. Also, what are the rules of demolition or excavation in your area? Some local laws prohibit the removal of substances that are harmful to the environment, such as asbestos, among others. Too many restrictions are discouraging to land developers.
- The right location
Land development is a long term investment. That said, you need to find land in an area that is close to social amenities and commuter-friendly. A developer does not care about the fluctuation of the market price. If the package is right, then the price is worth it. A land developer will buy property in a prime location any day.
Developers rarely buy single properties. Large blocks of land are more attractive to developers. You can convince several individual property owners to band together to sell as a collective and split the cash afterward. You are more likely to get 20% more money for a large piece of land than a small one.