Development Consulting covers a broad range of activities related to the current or proposed use of a parcel of land. Most real estate brokers provide some of this information and guidance, but brokers by their very nature tend to forget about the transaction soon after the property has been purchased and the commission pocketed.
Joe got into the real estate business full time after he left a job in 1986 as vice president of a national paper box manufacturing and sales company. Smart move? In retrospect yes, but lots of tough lessons were learned along the way. Shortly after Joe left the ‘safety net’ of a real job, changes in tax laws in August of 1986 and a stock market crash in October of 1987 dried up a great deal of discretionary cash used to purchase land. With the advent of the RTC, land prices plummeted, especially for often over appraised and highly speculated property. (If you don’t remember the days of the RTC, that’s O.K. Joe still does.)
With the speculation of the mid 1980’s a thing of the past, it was necessary to establish real value for property. While homes, condos, industrial, retail, apartments and the like had intrinsic value in that they could all presumably produce an income, vacant land and underutilized property had lots of built in problems.
Joe learned early that in order for a property to sell, he had to somehow create value for the property. If there were no utilities to the parcel, for example, he found out what it would take to extend or otherwise establish things such as electric, water, sewer, telephone, and the like. Zoning and use challenges often existed, and so Joe began working with cities and counties to determine how the government sees the eventual use of the property. In the process, Joe became familiar with the general plan and zoning change process, as well as special use permits. Joe has also successfully worked with the Arizona State Land Department and the U.S. Bureau of Land Management.
Often, a team of professionals including (among others) attorneys, land planners, engineers, architects and government consultants (lobbyists) need to be formed either before or after a land purchase is made in order to create value. While Joe can help assemble an appropriate group of these professionals for whatever project you plan in a particular area, he can usually give great insight into the process, streamlining whatever value building is necessary, saving you money and time along the way.
There is no ‘cookie cutter’ formula or project; each individual land purchase needs to consider many factors in the purchase and development process.