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Updated almost 6 years ago on . Most recent reply
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buying 3 lots with homes and subsiquently developing an apartment
Hello BP community,
I live is St. Paul Minnesota, near the University of St. Thomas, which is a great student rental market. Recently, my real estate agent let me know about a development opportunity. She believes there is a chance to buy 3 congruent lots in a T-1 zone, allowing the property owner to build up to 55 ft of multi familty housing. The 3 lots currently have homes existing seperately on each one. She let me know that if I could make something happen, I could get a piece of the pie, but I don't even know where to begin, and neither does she.
Does anyone have any advice to share? How might I find a seasoned investor who specializes in these types of transactions and developments?
Thanks, and happy investing!