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re: Developing commercial properties
Posted on 4/29/24 at 10:46 am to Decisions
Posted on 4/29/24 at 10:46 am to Decisions
Developing commercial properties is challenging in today financial and social climate. Just getting the entitlements on a piece of dirt to put a building in a location that may or may not be the right location for the asset you plan to develop can take any where from 3 months to 2 years (or longer). Also, you could buy a pc of dirt and find out the people living in the city, county, or parish don't want it rezoned to what you initially planned, which happens a lot to people don't know how to properly get through due diligence.
The easy part is design and construction and what it sounds like you are focused on right now. The hard part is understanding the guts of the deal, which are (but not all inclusive of): financing, rents, taxes, insurance, operating expenses, lease up, etc.
I'm not trying to discourage you but being a passive investor in a few CRE deals to start maybe a good idea.
The easy part is design and construction and what it sounds like you are focused on right now. The hard part is understanding the guts of the deal, which are (but not all inclusive of): financing, rents, taxes, insurance, operating expenses, lease up, etc.
I'm not trying to discourage you but being a passive investor in a few CRE deals to start maybe a good idea.
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