The Property
The property consisted of a .48 acre 2 parcel lot, located at 2851 & 2911 Cedar Street, Las Vegas, NV.  The property was a vacant lot.

The Find
We found this property as a result of purchasing another property. Because of zoning overlays in the area, we decided to make this neighborhood an area of expertise. We immediately went door-knocking and found this Cedar property. It was not currently on the market, but we offered a cash purchase and bought the property with a discount for $190,000.

The Technique
The property was zoned R-2 allowing for four units per acre. We immediately submitted for a zone change and because of the overlay within 60 days it was changed to an R-3, which allowed for 18 units per acre. At the same time we immediately placed the property on the market. By changing the zoning, we drastically changed the value of the property. We listed it for $420,000. If the property did not sell we planned to develop 10 units on the property.

The Contract
Within four months we had the property under contract for the full purchase price. We used a standard real estate contract for a quick close, and the buyer asked to move the closing date sooner.
 
The Result
We found a property using one of our non-compete method, and in less then four months we made a $230,000 profit with little effort. We spent about $1,000 on clearing the lot and placing a temporary fence. The zone change was simple because of the already existing overlay. We made a large and easy profit, and all we did was uncover the property's potential.