BiggerPockets Real Estate Podcast

The Hidden Opportunity of Property “Rezoning” Making This Investor Wealthy

Nov 4, 2024

In this conversation, real estate investor Stuart Udis shares his journey from law school to mastering property rezoning in Philadelphia. He reveals how he identifies overlooked areas with high demand but limited inventory. By leveraging zoning laws, Stuart successfully changes land designations, allowing him to build and sell homes quickly at premium prices. He also discusses the essential relationships with local communities and regulatory bodies, crucial for gaining support and approvals, making rezoning an untapped strategy for aspiring investors.

36:47

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Episode guests

Stuart Udis

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Episode notes

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Quick takeaways

Understanding zoning laws and engaging local communities can unlock hidden real estate opportunities and maximize profitable developments.

Recognizing market trends and potential appreciation is crucial for investors to avoid getting trapped in short-sighted cash flow strategies.

Deep dives

Understanding Product-Market Fit in Real Estate Investing

Successful real estate investing hinges on identifying and purchasing properties that align with the needs of future tenants or buyers. Investors should continuously evaluate whether their acquisitions meet the demand of the market, ensuring that properties are suitable for the intended demographic. For instance, considering the types of amenities and layouts that appeal to families or students can significantly influence profitability. By prioritizing the end-user in real estate decisions, an investor can better position their portfolio for maximum returns.

Intro

2min

Lessons from Early Real Estate Ventures

5min

Wealth Through Real Estate: Strategies and Insights

8min

Strategic Real Estate Investment

10min

Engaging Communities in Real Estate Development

9min

Transitioning from Law to Real Estate Development: Capitalizing on Opportunities

3min

Is property “rezoning” the trick to making much more money in real estate? Our guest is using zoning laws to his favor by finding areas with hidden potential but NO space left to build. He then changes the zoning, builds new homes, and sells them FAST (and often over-asking price) to the local buyers waiting in line for inventory to arrive. You can do it, too, but you’ll need some beginner information before you start.

Since 2016, Stuart Udis has been building homes in areas most investors overlook. The average investor sees an area with growing demand but realizes that they can’t build a home because a piece of land may NOT allow residential units, so they give up. Stuart instead gets both the city AND the local residents on his side, having all parties favor a zoning change, helping him be the only investor to build on that once-overlooked piece of land.

So how do YOU do this, too? In this episode, Stuart walks through how he finds hidden opportunities in often-overlooked neighborhoods, the groups you’ll have to meet with before you try to change the zoning, and the types of units he’s building that give him the highest return on his money.

In This Episode We Cover:

Why “rezoning” property might be one of the most overlooked investing strategies

The big cash flow mistake that Stuart made earlier on in his investing career

The #1 reason you must look into school districts BEFORE buying in an area

Getting approval for rezoning from the city and the neighbors you MUST get on your side

How to tell exactly what a buyer/renter will want BEFORE you rezone/build

And So Much More!

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