How can you manage land acquisition projects like a pro?

Land grab got you stoked? Master these moves: Plan like a ninja: Target identified: Size, location, zoning? Budget & timeline? Know your prey. Due diligence: Uncover hidden dragons - titles, permits, environment. Team assembly: Legal samurai, financial wizards, engineer owls - your dream squad. Negotiate like a fox: Cunning offer: Market smarts, comparable apples, development whispers. Creative tactics: Seller financing, joint ventures, think beyond cash. Escape hatches: Secure clauses, protect your interests, anticipate turbulence. Manage like a lion: Roar transparency: Stakeholders informed, concerns tamed, communication reigns.

To excel in land acquisition projects, I combine research, budgeting, and legal expertise. Negotiation skills, due diligence, and clear stakeholder communication are key. I manage projects efficiently, adapt to changes, and prioritize ethical practices for successful outcomes.

A good 15 point checklist for due diligence when purchasing a development site: 1. Architectural Survey 2. Environmental Reports 3. Zoning, Massing & Feasibility Study 4. Title Report 5. Any leases; path to vacancy for each tenant. 6. Property Taxes 7. Any open permits or violations 8. Geotechnical survey 9. Existing easements 10. Access agreements w/ adjacent properties 11. Land use attorney opinion letter 12. Neighborhood specific DD: What developments are in the pipeline. What projects are completed. What are the retail rents, condo prices, market rents, etc. Comparable land sales; who purchased & for what use 13. High quality drone video, taking you up to the max height the zoning allows 14. Developer proformas 15. Rezoning potential

Understanding a site's architectural constraints is crucial. 🚧 Zoning may allow 20 units/acre, but you can't assume 20 units/acre x 10 acres = 200 units. Conditions that can constrain your building envelope, and therefore max. unit count include: 1️⃣ Parking: surface vs. structured parking 2️⃣ Zoning: building setbacks, height requirements, and max. lot coverage. 3️⃣ Site constraints: easements and commercial setbacks. 4️⃣ Environmental: wetlands and flood zones. Each of these needs to be taken into consideration when creating a schematic site plan and building layout and will help you validate the actual maximum amount you can build on your site.

For a proper due diligence it's essential to involve experts in different fields to ensure thorough analysis and risk mitigation.

In the Australian context, defining clear goals and criteria for land acquisition is crucial. As I emphasize in my Amazon #1 International best-seller book 'Real Estate Investing with ChatGPT,' understanding the local market dynamics, zoning laws, and environmental regulations is key. For instance, in Australia, factors like proximity to major urban centres, bushfire zoning, and flood risk must be considered. This strategic approach is essential for identifying opportunities aligning with investment goals and sustainability considerations.

You need to develop an exit strategy in case the land acquisition does not proceed as planned or if project objectives change over time. This could involve options such as selling the land, leasing it to another party or repurposing it for a different use. Having a clear exit strategy can help mitigate financial losses and minimize potential disruptions to the project.

Real Estate in Nigeria is beyond the books due to its not so structured system. There are rules & knowledge that guides land acquisition that cannot be found in any written pages. If your acquisition is from the primary market, your journey should start with the family & its principal representatives. Be sure you engage the service of a Lawyer to confirm if there's no court case on it, & if there was, it should be the supreme court judgement. Let a Surveyor confirm with Lands, if it's not committed. When signing the deed, do a video covering all principal members and all underage children, present. Take possession immediately, perfect your title & put someone there to engage the space. With these, you should have some peace of mind.

Risk Assessment: Identify potential risks, such as title disputes, environmental issues, or market fluctuations. Mitigate risks through due diligence and contingency plans.