These real questions about buying greenfield land are answered by a US master builder and me after receiving them from readers of my e-book,
“Residential Development Made Easy”.

Problem 1.

What are some factors to consider when purchasing undeveloped land for housing?
purposes of the rezoning?

Response from the master builder and developer:

Study your city plan and see where council planners want the direction of physical growth to take place. Go and talk to the planners, don’t ask their opinion, you can sue them in a few years, so they won’t give you an opinion.

However, they will talk about the Council’s growth plans. Ask about utilities such as water, sewer, roads, etc. These are very expensive and will want growth to occur where existing utilities have the capacity to handle growth. This way, if you acquire raw land for rezoning, you are working within the “thinking” of the local authority.

Be prepared to hold on to the property for a long time. The first thing to check before buying is to make sure it is not or may not be part of an endangered species.

Then make sure it has never been owned or owned by a gas station, fuel company, junkyard, or dumped tires. Also get proof from experts. Make sure the land allows the property
to build on it.

Question 2.

What methods does the developer use to evaluate potential parcels for development and determine the price to be paid for the land? (Again, suppose we have a basic level of
comprehension)

Response from the master builder and developer:

“The land is only worth what you can do with it.”Problem 3.

What general advice would you give to developers just starting out in the market?

Response from the master builder and developer:

Locate a Master Builder to work with. Master builders like myself have a vested interest in ensuring your profitability.

We can answer your questions about what to build and how to determine profitability. We enjoy advising and growing our developers.

I also recommend that new developers purchase and study Colm’s eBook, “Residential Development Made Easy.” No other experienced developer has taken the time to write a how-to book like yours, that is, anywhere in the world, so it’s truly unique.

The more successful and profitable you are, the more successful and profitable we are.

Be honest with the master builder you choose to work with. Ask for their help.

In my case, because I am licensed, bonded, and insured in the lower 48 states, I can help you put together a Residential Development Team that will provide you with their experience and
support their efforts.

We can provide you with development financing (if you qualify), homebuyer financing, insurance, help you locate land, advise you on property, create demand for your homes, etc.

We work with developers with various levels of experience and who have different levels of active participation in decision making. A Master Builder can guide you. Show you how to get started. Get your feet wet.

Example: I could start by helping you create a residential development team or connect you with mine if I have one in your area. So we would place a lot on a development from another developer.

We will then help you conduct basic market research in this controlled environment. How to write a proposal for the builder (us) to work with you.

Then the real estate agent would find a buyer for you. You would sell the house. And we would use that house to create a demand for more of our houses. You would repeat your success multiple times until you feel comfortable and ready to develop your own wilderness.