new jersey: Subject to approvals Multi family Residential
- 10/18/15 08:58 PM
How do you value land or a building that you are thinking about putting a multi-family building, say 30 units. What is the land worth? How do you appraise it as it has no income?
Many investors will buy real estate subject to approvals, if they can get the land approved for a certain amount of units. An investor may offer $30,000 per unit as they will back into their profits. Taking into account the money involved in getting approvals such as the attorney, architect, traffic engineer, land use expert, possibly environmental guy (LSRP). Once this process is done it becomes easier to put a … (15 comments)
How do you value land or a building that you are thinking about putting a multi-family building, say 30 units.
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