Have you tried approaching developers without even having to do the work of clearing out the lot? Most wholesaler I know do not clear out the land since developer would do that anyways!
Of course make sure you have the property under contract before providing this information to others because they can out bid you... like that you can assign the contract or even do a double closing if you have the funds to buy. Good luck and run your numbers! Feel free to DM me if you have questions.
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Interesting situation. No idea, but I'd imagine you could find out pretty quickly by talking to the local zoning board, a realtor, and a real estate attorney. I imagine the pitfalls would be ensuring the property will for sure be rezoned, making sure there's no issue with a new owner building high density housing on it (utilities, parking, easements, etc), and dealing with any difficult items from the tear down (septic, buried utilities, etc).
I bet a commercial real estate professional could answer a lot of your questions. I'm pretty unashamed and would take a take to walk around a few offices until someone let me spend some time picking their brain.
Developers often buy land with the intention of clearing it. I would avoid doing any site work unless you have to. Demolition depending on market is \~$5/sqft, so you could attempt to do some math if you think you could squeeze extra value out of there.
A rezone is typically sufficient enough value to earn a profit
Have you tried approaching developers without even having to do the work of clearing out the lot? Most wholesaler I know do not clear out the land since developer would do that anyways! Of course make sure you have the property under contract before providing this information to others because they can out bid you... like that you can assign the contract or even do a double closing if you have the funds to buy. Good luck and run your numbers! Feel free to DM me if you have questions.
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Interesting situation. No idea, but I'd imagine you could find out pretty quickly by talking to the local zoning board, a realtor, and a real estate attorney. I imagine the pitfalls would be ensuring the property will for sure be rezoned, making sure there's no issue with a new owner building high density housing on it (utilities, parking, easements, etc), and dealing with any difficult items from the tear down (septic, buried utilities, etc). I bet a commercial real estate professional could answer a lot of your questions. I'm pretty unashamed and would take a take to walk around a few offices until someone let me spend some time picking their brain.
Developers often buy land with the intention of clearing it. I would avoid doing any site work unless you have to. Demolition depending on market is \~$5/sqft, so you could attempt to do some math if you think you could squeeze extra value out of there. A rezone is typically sufficient enough value to earn a profit