CONSULTING SERVICES

"How can we work together, if I already have a agent?"
I've been getting this question for years, so rest assured you are not the first and will not be the last person to ask. For developers in a situation where they have a team in place, and may simply want the option to bring in a second pair of eyes to vet or troubleshoot a project, I provide the following consulting services on an hourly basis as well as the following:

Development Potential Outline

"How can I find out the best use for a property, without spending hours on the phone with planning officials and without getting lost among different city regulations?" 
I knew an investor who bought a commercial building in Highland Park. He was so excited by the development, his agent was excited to get the project turned around quickly to resell, and he literally poured $100,000's of dollars into remodeling the space. 
The problem was the property was located in a low traffic area that could not support the price he was looking for. It also turned out that people were much more interested in tearing the property down and building the 18 units that could go in its place. 
If you can imagine one document that can save you from a situation like this, that document would be the development potential outline. As its name implies the DPO outlines the different highest and best uses for a property, so that you are fully aware of what it can be, and make the best decision in terms of development. 
The best part about knowing what your options are is, when the market shifts, for whatever reason, you have a backup plan as to what you can do to revive any project. 

Specifically, the Development Potential Outline will help you understand:
  • The applicable zoning and zoning code(s)
  • Key development restrictions: height, density, setbacks, etc.
  • Potential areas for highest and best use
  • Different Development Scenarios
  • Potential Eligibility for ADU, TOC, SB 5, Small Lot Subs
  • Potential development red flags and areas of consideration
Benefits: 
  • Reduces your research time 
  • Adds clarity to your development goals 
  • Defines a starting point for discussions with planning officials
REQUEST AN OUTLINE

Development Feasibility Analysis

What is my plan?
What are the numbers? 
Are all costs accounted for?
Does the deal make sense? 
 
Knowing what can be built is not enough. As a developer you want to know if the project makes financial sense for you and your goals.
With a Development Feasibility Analysis, you gain greater insight into: 
  • Profit potential for short term developments
  • Sales and performance of comparable properties
  • Estimated soft and hard costs   
  • Financial feasibility across different development scenarios on the same site
  • Timing the construction and release of a project
  • Preliminary estimates of operating expenses and revenue (for long term multi-family holds)
Benefits: 
  • Creates a financial plan and roadmap
  • Provides a vital tool for pre-acquisition decision-making 
  • Guides development decisions during construction
REQUEST AN ANALYSIS
 
 
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TERMS OF SERVICE

© 2023 by Demi Watson. Proudly created with Wix.com | Dominique Higgins Real Estate | DRE#01927254 | info@dominiquehiggins.com | 888-205-3213 |

Dominique Higgins fully supports the principles of the fair housing act and the equal opportunity act.  All material presented herein is intended for information purposes only. While, this information is believed to be correct, it is represented subject to errors, omissions, changes or withdrawal without notice. Information is obtained from various sources and will not be verified by Company. There is no guarantee of accuracy of all data including measurements, conditions, and features of property. All property information should be verified by your own attorney, architect or zoning expert.