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Updated almost 7 years ago on .

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Neal Gary
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Advice needed for new project by newbie.

Neal Gary
Posted

I'm a newbie and before I get ahead of myself I was in need of a few guesstimates as to the number of units allowed to be built on a 3/4 acre lot for a 3 story building is #1. Then #2 would be the approximate $ cost/sq. foot for affordable housing in the Western No. Carolina Mountains (read Asheville). Then #3 would be that the parcel could be divided into the 3/4 acre for the affordable housing apartments, 3 parcels of approx. .17 acres for 1 family houses, and 1 parcel of about .34 acre that I plan on using for my business. The cost is $1.4 million and I have $410,000 cash. I don't plan on moving my business for 8 years. Am I daydreaming or is this possible.

My business does $1.2 million and nets 43%. Thanks for any and all advice.