Back for a second dose, huh? Well, here it comes in the form of another article. This time, we are going to address the selection of property that you are going to buy for development.

The first step is deciding what you would like for your development specialty. Single family homes? Office buildings? Neighborhood retail space? Residential lots? This is all up to you. You can be successful in any of these arenas if you are focused and stay on top of the game. Most of the readers will have heard the answer to the question "What are the three most important aspects of a piece of real estate?" In case you don't know the answer, here it is for absolutely no charge. 1: Location. 2: Location. 3: Location. It may well be a cliché but it's true, true, true. Lake Washington waterfront land was more valuable than Queen Anne Hill land, which was more valuable than Phinney Ridge land, which was more valuable than Woodinville land (assuming common zoning, of course) in 1970. It is still true in 2008. It will be true in 2025.

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