Notice of intention to demolish

[Kyle Schlosser]

By chance, today, I drove past a (what looks like a 4-plex) in a fantastic area in Louisville. Giant yellow sign on the front: Notice of Intention to Demolish. I was surprised, to say the least. It looked to be all brick and it‘s in a bustling area packed with shopping in Jefferson County, KY. While there are always exceptions to every rule, if a property gets to this state, is it typically too far gone?

[Dan Maciejewski]

Yeah, you'd have to do some research -- I'd be interested to hear if you find out.  In my area, I'm seeing a lot of this happening because the cost to build new is finally cheaper than the cost to rehab, and when you couple that with city funds for improving certain neighborhoods, you get a good enough deal that small builders are starting to demolish single lots and infill SFRs in neighborhoods.  Then they can capture the high sales prices, sell, and get out quick.  I like multi- families, so I'm always doing long-term numbers first and then the flip numbers -- SFRs on a lot that can support a small multi always seems like a waste!  Townhouses are the way to go!