I need some help as I would like to buy about 3 acres of land and am not sure what questions to ask before I consider this property. it has trees on it. I would like to use it for commercial property.
what do i need to consider before I buy this property?
Thanks in advance for everyones help.
harry
is this the best forum for my question or should I try another one?
I am new to this.
Thanks
HR
try commercial forum.
well some of the questions you will want to answer are:
is it zoned commercial?
how much frontage does the property have?
does the lot have utility access?
how much will it cost to…do everything?
is it in a flood zone?
if it’s not zoned commercial, can you contract to buy it, subject to rezoning?
what will the rezoning require?
is commercial zoning a viable and profitable avenue for the location?
what are the lots running for in the area? (don’t pay retail!)
the more data you compile, the better you’ll be in selling.
a good salesman knows his product COLD. so you need to know everthing about it. have information available for even the most experienced investor who “thinks” he knows it all.
don’t listen to realtors unless they’ve got experience with the type of investment or vision you have for your project.
good luck. keep in touch