Proposing Locations to a Business

[Joshua Lin]

Hello Everybody!

I double posted this in the Ask Our Members/Expert but I was thinking that it might be a good idea to post it in the General Discussions too. I'm sure someone already thought about it.

I'm currently interning for a Real Estate Investor, and have been for the past month or so. I noticed this vacant land on a main street that I think would be absolutely perfect for a restaurant or cafe. Instead of starting my own franchise I was thinking it would be a great idea to propose the location to a Starbucks or a Coffee Bean. I was thinking what would be a smart idea to put the location under contract; obviously all I really need to do is have enough money to for the initial deposit. I was curious how would you go about proposing a potential location for a business? I'm sure I'm not the first one to come up with this. Any suggestions or examples would be great.

Thanks in advanced!

[dosrotties]

OK, what's the zoning? Where's the sewer? lot size? and feel free to stop by the city and meet with the planning department. Pull title or the city will have the info. Tricky part is contacting developers. If you have a good deal, some developers will somtimes wait you out and steal it from you.

You need to market the property to 1000's of companies or don't touch it.

Developing depends on 3 legs, 1. fiscal 2. political and 3. technical.
If you don't know how to handle any part of the system you will fail.

Good luck. If your on the West Coast let me know.
And you boss what's he say about it?

[Joshua Lin]

I am on the West Coast, I guess I was in such a rush to ask my question I forgot to tell you the nitty gritties. I'm in Los Angeles, CA and it's currently zone C2.

My mentor hasn't been completely up front and honest (I'm finding a new one) and is looking more towards his own interests.

Could you explain or direct me on how to market the property?

Also, I've never heard of the 3 Legs for Developing, could you explain that a little more?

Thanks!