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Bought an Elephant at Auction…. Now what?
Hi.
First time on the forum though been following the podcast for a few years.
So last week I did something truly dumb. I bought a massive [9,000 sqft +basement] old [est.1900] building [church] at an online auction, site unseen.
This was my first time buying anything from an online auction, technically first time bidding on something. I was honestly surprised that it was “that” easy.
It is about an hour's drive from my house now and I justified it as a BRRR type deal… but honestly I just think I bite off more than I can chew. I was renovated somewhere in the late 1980's and re-zoned to Residential. It's got great bones and potential but I'm just at a loss as to how to move forward.
How to find investors to build this into a multifamily, niche/unique, building? I am open to flipping it too, anyone in Dayton? 😅