In today’s Real Estate Jam Podcast episode, we have Mike Marshall as a guest!  A lot of people don’t get into the land development industry because they’re afraid of it. But we’ve got Mike here to dispel all the fears you might have about it. Stay tuned!

The points below are from the 70th episode of The Real Estate JAM, where we discussed creating value through land entitlements.

Tune in to the full episode on YouTube, Spotify, or Apple Podcasts.

Types of Entitlement

In the real estate business, it’s important to know the two main types of entitlements: physical and legal. Physical entitlements refer to the physical characteristics and features of a property, such as its size, location, and zoning. Legal entitlements refer to the legal rights associated with owning and using a property, such as the right to build on the property or the right to sell it.

Deal or No Deal

When it comes to a land deal, consider factors such as location, zoning, and potential for appreciation. Location is critical, as a property in a desirable area will likely appreciate in value over time. Zoning is also important, as it can dictate what you can and can’t do with the property. Research the potential as well for appreciation by looking at the history of the area’s property values and any planned developments or infrastructure improvements.

Want to learn more? You can listen to the full episode on YouTube, Spotify, or Apple Podcasts.

Outline of the Episode:

• [00:02] Welcome to the show.
• [02:14] What are the steps in land development? Is it necessary to know all before getting into it?
• [03:44] Now that you have a land to develop, how do you go about land entitlement? What’s the first step?
• [06:09] Is it important to know the people who are approving the submitted plans? Will it help shorten the approval process? Does it matter?
• [07:49] Is there a tax advantage if you process things though an entitlement?
• [09:17] What are the advantages of building lower income housing? Is this something that you should focus on?
• [10:03] How can you acquire land if it needs to go through an entitlement process?
• [11:15] Do you need to pay the full price for an entitled land? What are the rules when it comes to terms of payment?
• [13:03] What are the criterias for a land to qualify as an entitled land?
• [14:47] How do you market entitled lands? Does it go through the same channels?
• [15:21] Is there a specific state where entitled lands boom more or can you just go ahead and pick any location?
• [16:15] What is the timeline to fully develop an entitled land? Does it always take years?
• [18:25] What tips should beginners in these type of lands know from the very beginning?
• [19:57] When you’re buying entitled land, do you already have a project in mind or do you plan along as it develops?

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