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Closing without approvals

June 8, 2021 by David Hill Leave a Comment

Do NOT be STUPID!

In this video, I cover why you should NOT close on raw land with development potential without the development approvals in place.

There are a few reasons why someone might:

1. They aren't paying development values. I would do this too if I like the piece. We look at this as more of a “land bank” strategy.

2. They are uneducated and shouldn't be playing in the space because they are making bad/ “STUPID” decisions.

3. They are extremely motivated – like the clock running out on a 1031 exchange.

At the end of the day, we strongly suggest you never pay development values on raw land without the development approvals in place… it's not developable until approved!

Filed Under: Land Deals Revealed

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