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Updated about 5 years ago on . Most recent reply
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Podcast suggestion for y'all
Please please please!!! Invite lawyers on the show to talk about lawsuit protection.
please please please invite a world class CPA to talk about tax strategies!
if you agree follow up and say so. Hopefully the topic will be too big to ignore!
Most Popular Reply
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I would add to that list an Architect, or at least a code expert.
As an architect who’s client base is made up largely by real estate developers and investors, I have come across many who purchase properties in which the new owner assumes they can do one thing, and find out later that for one reason or another, that it can’t be done. For example, The particular zoning for the lot may allow for a multi-family dwelling, but due to certain building code constraints, may not actually be possible.
I see it all of the time on the MLS. I see a vacant parcel in philadelphia, in which the agent has listed it as being able to build a 4-5 family building, but one look at the lot dimensions and access to public rights of way tells me that that's impossible. Most people who aren't familiar with codes (which is most people) can easily be taken advantage of.
I think at the very least, it would provide some grounded knowledge that every investor should be aware of.