How to rehab an entire area

[Fitzgerald Hall]

Hello everyone,

I am a beginner level investor in Atlanta, Ga. I have an idea to purchase quite a bit of SFH in an area within walking distance from a college and turning them into college housing. The property values aren't very high and the area has quite a bit of abandoned and boarded up homes.

I believe that if I can purchase the majority of the boarded up houses on 2 or 3 of the closest streets to the school and fill them with college students, it will be abetter look for the school and raise the value of the area and ultimately be great income investment.

The problem I am facing is that I am beginner and I do not have access to enough of funds to do this on my own. Even if I am being creative and offer to partner with the owner of the property in exchange for completing the rehab, funding would still be a problem. The area has a long history of college housing that does well during the school year so Im confident that it would be a good investment. On top of that the Georgia Dome is in the process of being build which will make the surrounding areas more desirable. Does anyone have any suggestions on how i should go about finding funding for something of this nature? Any help or advice would be greatly appreciated. Thanks in advance.

[Curt Davis]

Your best bet would be to find a private lender who will finance this project for you.  Your biggest hurdle is you have no track record and would be considered too large a risk and project for someone who is new.  

You might try to find another investor who will partner with you on the deal and split profits.

Good luck