Making Money By ReZoning Vacant Lots
I'm very new to real estate investing but am trying to read every bit of info I can get my hands on so bare with me.
My question is can a significant profit be made from rezoning vacant lots?
I have been made aware of a lot currently zoned residential-single family which sits in the middle of several plexs and would most likely have no problem being rezoned as residential-multifamily.
Does this sound like an opportunity to you seasoned investors? Any suggestions/tips on where to begin researching this deal?
On a side note, any good sources of information suggested for the beginner?
Thanks
Getting a change of zoning is one way to develop a property ("develop" meaning bringing about some change that will increase the market and value of the property). However, from my experience as a land broker, I have learned that zoning changes are rarely slam dunks. I'd recommend that you take a look at not only the zoning map and ordinance, but also the municipality's master or comprehensive plan and speak with some town officials to see what land uses the town recommends for that area.