improvement
What a wonderful word! What a great sound. Do it right you will hear the sound of the bills being counted. Do it wrong you will hear the whimper of loss with the juicy curse….
Before we begin… ..remember the magician from fourth grade who warns: "Do not try this at home" !!
So I say the opposite - try and do as much as you can but remember - every city has different laws and what I'll tell you is happening in Boston or New Ivan is not necessarily true of Indianapolis or Cleveland.
Although the principle is the same and the purpose is similar.
Entrepreneurship and change of purpose are part of the improvement process.
In making flips and purchasing for the purpose of holding, we all improve without changing the purpose, for example:
Taking an old house and renovating it = improvement !!
Taking an old house and expanding it = improvement !!
Taking a property and replacing a tenant (better problematic tenant or adjustment to current rent) = improvement
Taking a structure and changing an internal division = improvement !!
Taking a property and obtaining cheaper financing - improvement !!
Taking a property and managing it in a more correct manner (raising the cost of reducing the maintenance cost) Improving !!
And many more examples (although here are the main options).
In each of the ways listed our role is to be entrepreneurs. Each and every one in the designated area of specialization and in a specific area !! .
In all of the above cases, we all understand that our job is to be entrepreneurs! Each and every one in the field of specialization and in a specific area !!
But in each of the options mentioned the decisions are our entrepreneurs and the professionals who work with us.
In changing the purpose of a structure (beyond the usual entrepreneurial work), we also work with committees in the municipality, which committees have a lot of power and have a different interest than the entrepreneur!
They are supposed to maintain the character of the city and follow the city's development policy and make sure everything is done within the various laws (building laws planning laws traffic laws vehicles the impact of the project on the number of children in school the impact of the project on the sewer and more) The requirements of the municipality and its goals and the business goal. Profitable success in initiation.
Video Committee Approval No. 1
Politics is just one of the demands of the entrepreneur ……… (but without a doubt one of the most important)
An entrepreneur must have imagination and must fly, an entrepreneur must know how to connect everyone around him to a goal An entrepreneur must know how to move the people around and know how to criticize himself, and an entrepreneur must also be realistic and know how to reach the goal! An entrepreneur must be involved in all the details
Figure 4 -2-3
Dear Partner Quote Mark: "Go to bed with a dream and get up with a work plan" !!
In the morning prayer I receive every day a reminder of the work of the entrepreneur (Akedat Yitzchak)
Biom Hslisi and Isa Abraham At deadlight and Ira At Hmkom Mrhk: and God said unto Abraham repatriation Lcm Nario here with Hhmor and Ani and Hnar Nlch so far and Nsthoh and Nsobh Alicm:
(Genesis XNUMX: XNUMX-XNUMX).
Rashi interprets (and we read the binding of Isaac every day) Abraham is commanded to go to the place which "I say to you." Abraham goes and suddenly sees (as a prophet) on Mount Moriah the Temple. Isaac the Temple! Abraham asks the boys with him (Ishmael his son and Eliezer his faithful servant) What do you see? The boys answer him: Mountain, sand.
After the Torah… we will return to business let's show how to start thinking about changing the purpose of an existing structure!
There are several approaches that can be taken:
Lot size
Each building is associated with a plot in the taboo (with size and classification). Every lot in the United States and in the world in general has a classification from agricultural, residential, high-rise, two-family, commercial, etc.
The classification (will appear as a mark of a letter and a number) and will catalog the plot for its purpose. In simple words he will explain what can be built on it.
For example: we bought an office building 5400 sq.m. (we will talk about buying the house later…. We will focus on zoning now)
Figure 8-9 (still in the stage before the purchase at work with the investor)
The property has a zoning T 3. T 3 means every 1 acre can be built 4 houses.
The plot size is half an acre meaning 2 houses can be built.
Across the road and around the area is T 4.
Zoning in T 4: For every 1 acre 16 houses can be built.
This means that if we succeed in changing from T 3 to T 4, we will increase the number of apartments from 2 to 8 apartments.
The size of the structure
The improvement of zoning can be attacked with a different approach. From the direction of the size of the building.
It is true that the building "sits" on a certain area and from it a quantity of units can be deduced (as explained). But you can also refer to the size of the building (tomorrow's post will detail the topic… .. Patience).
The municipality can not ignore the size of an existing building, the municipality will treat the size of the building according to different parameters (and of course again different from municipality to municipality)
Division into units by total area (New Evening Municipality)
Photo No. 7 (Parking 1 per housing unit, today the requirement in the area was changed to 0.5 parking per housing unit, provided that parking for bicycles is established)
The City of New Ivan will calculate the division of the building into units according to the size of the building per 1000 sq.m. built net. A housing unit will be allocated (studio up to 4 bedrooms, one kitchen and one front door)
In the building we bought and it had over 100,000 square meters gross, we received zoning (after a full year of work see post 3) 80 apartments according to a calculation of 80,000 square meters net residential.
Distribution by number of parking spaces (Municipality of Fitzburg Mas)
The municipality of Pittsburgh in Mastocas,, will consider a housing unit for every 2 legal parking spaces we will present on the lot (see below in post 3) Parking and Gal parking calculations for medium and small vehicles.
Division by building size is adjusted according to the size of the units requested
Picture number
The municipality of Amden (the house of the 5400 sq. Ft. 3. Remember?) Allows for such an internal division:
600 sq.m. per apartment of 1 room and below.
900 sq.m. per 2-room apartment.
1200 sq.m. per 3-room apartment.
And on the condition of at least 600 square meters, they will remain as a compound open to the general public (determined long before the Corona period).
Theoretically only the size of the building 5400 sq.m. can be produced:
או
8 one-room apartments (1 sq.m. for one unit in a product of 600 units = 8 sq.m. + 4800 for the benefit of the tenants).
או
5 2-room apartments (900 sq.m. for one unit in a product of 5 units = 4500 sq.m. + 600 for the benefit of the tenants).
או
4 units of 3 rooms (120 sq.m. for one unit in a product of 4 units = 4800 sq.m. + 600 for the benefit of the tenants).
What is hidden in the word 3 rooms and more? What differentiates a bedroom from a bedroom? How many people are allowed to rent the apartment?
(It is not possible to learn everything in one post, I'm just hinting: a built-in closet or mobile changes the status of a living room to a library, will be allowed to rent or to a family with several people or to 4 unrelated adults.)
From here anyone can make an initial pro forma for feasibility testing! This is to determine the path.
We after determining the path have always used an independent external factor: Mr. Gaf Abu
Gaf holds a master's degree in real estate financing and appraisal from the prestigious NYU University (a consultant who received payment for his work regardless of closing the deal). ") And of course report what the financial situation will look like after 5 years of maintenance (reported 5 years of maintenance is very helpful in achieving good mortgage terms).
Photo No. 6 Celebrating Closing with Gaff and Sandy (the Mediator)
What are the parameters that most influence the process beyond the size of the building?
How is the process itself carried out until the approval is received?
In tomorrow's post!
Thanks again
Hope I did not get bored ??
??
Answer Transfer
Responses