Planned Unit Development

Is your land Planned Unit Development (PUD) approved? Do you have land that can be used to put condos or other housing on?nnSay you have about 10 acres, has the city approved you putting condos on it or is that just something you’re thinking about doing? Are you sitting on a goldmine? Could you stand to increase the worth of your land? Don’t waste your time just thinking. You need to take action. This could be an important step for you. Maybe you are in a town or city whose town plan says they favor cluster housing. nnThis means you have to get this done-and fast. You would have to do your own homework, and find out if the property is worth at least 2 or 3 times what is has been approved for as PUD approved for condos. So what do you need to do? nnThis means you buy the property, you hire the engineer, and you turn loose and let them go do their thing-and when the city splits the stamp on it that, that baby is PUD approved!nYou will have no problem selling that property to a developer. Think about it-you just raised the value of the property 2, 3, 4 times. nnAll you have to do is take over the debt, and hire an engineer. But don’t jump into this blindly. Make sure you have a plan 2 & 3. If the engineer doesn't get it through the town, it doesn’t hurt to have a back up. Realistically, the engineer will know within a day or two and can tell you if there is going to be any resistance.nnPut it under contract and have your engineer go play the game for a few days and you will know. You'll have your exit strategy-trust us it's very clear. Your engineer might even be able to speculate the value of your property will be worth if it does get approved for a PUD. nnFrom there-its smooth sailing as your income increases!n