Property Development.

[tec0]

The truth is all of us will have to look at Property Development eventually and more importantly how to manage it. In this case I wish to start with “A large piece of property” Now complexes is a good way to start and it might even be possible to attract investors.

The truth is however not a lot of people “including myself” are limited in our understanding to start the process with confidence. Now don’t get me wrong I am not looking for investors or developers “yet” what I am looking for is all the trouble your can run into while developing your property and slowly converting to a complex.

a>> what do you need to do to convert your property into a complex?
1== where do you go, what do you ask for and how does the system work in general.
2== water and draining systems “who is responsible and how do you do this legally.
3== installation of electricity “who is responsible and how do you do this legally.

b>> is there a time frame to erect buildings and what is the specifications.

Right I have a million more questions but let’s start with the basics and work our way up to the more complicated stuff.

Thanks.

[wynn]

Before you buy the land, insert a due dilligence clause into any offer you make with respect to you aquiring the required rezoning to what you intend doing.
A surveyor will have to survey the land and apply for rezoning to the type of development you require.
Usually this is done in principle, whereby the local authority provides a letter stating that they have no objections to the type of development you envisage.

It is probably advisable to include objections from neighbors into the due dilligence clause, objections could hold up rezoning for a number of years.