Rezoning To Increase Value
Just wondering how many people do or have gotten a property under contract to purchase, rezoned/up-zoned, and assigned the contract to a buyer for a profit?
For how much?
If a newly rezoned parcel can only net around $5K to $10K, I am concerned that the $4K or more a rezone can cost may offset a chunk of my profits.
Has anyone had success with this approach?
I used to have a student who pretty much did this as his sole real estate investing strategy. Bought things land-for-sale/land/zoned-commercial">zoned commercial/industrial, changed the zoning to residential sold them to developers to build townhouses.
How big a parcel are we talking about? What political enviornment?
Never done it, but it sounds like it might work.