Does anyone here know about purchasing land, escavating...

[deepvoice75]

...and building an apartment complex or condo.  Or where I can get this info.  I'm interested in this as a future endeavor.

Thanks

[tedjr]

There is a lot to know and your question is way too broad to answer even if I know all the answers. I assume you mean excavating in your question too. Here too there is a lot to know. To get a bid on a project for instance you would have to have the land and plans already in place. Then the contractor could bid on the number of cubit feet to move and how far to cut and how much fill to bring in if needed.

In Houston I believe there is still no zoning so that would help. You want to pick a site that is located on a main street if at all possible. In most deals for land that I remember for new apartments, the builder developer would figure his land cost last. In other words he knows what he can get for rent and knows the building costs all but excavation, knows his financing costs, and what it will take to run a project expense wise. Given an industry average cap rate he can figure what his maximum land costs adjusted with excavation if a certain plot needs more work than another. I am sure you understand how this works. Like buying a rehab and knowing the rehab costs  and what you can get for it tell you how much to pay for the structure given a profit you need. I remember in the late 70's in Houston that $7000 to $8000 per door or $1.5 per square foot was the average price for land. I am sure that is double or triple that fiqure today. You could find out more info too by looking around at land for sale and joining Associations in Houston and subscribing to trade journals. Hope i helped a bit

Thank you,

Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas  78737

512-301-9171 home
512-587-6177 mobile

[NancyChadwick]

It wasn't clear to me if you specifically wanted to build on the land or just buy it and then either sell or assign to a builder.
I don't know what state you're in, but the first step is determining the current zoning of a parcel by reviewing the zoning ordinance and map at the municipal office. If the property does not have the type of zoning you would need for your use, then you're looking at trying to get the municipal governing body to change the zoning classification. This can be very difficult to do and it depends on a variety of issues, including politics and municipal mindsets and land planning.