Considering going Condo

[Ryan Palakiko]

So im new to Real Estate investing but I know i will get great advise through BP with all my Real Estate endeavors. So this property came across my tabel, and CPRing it might be an option. The seller is motivated, says he's too old to maintain the property and wants out. My first option is to wholesale it, but there might be a way i think, that myself and the owner can make more money of his property. Which brings me to "going condo". He has an acre lot, built 3 new homes on half the lot and the other half is a farm. The new homes are NOT CPRed. One home is not even permitted. If he does'nt accept my cash offer, he might be willing to do a joint venture. if its worth it, I propose to come in with funds to CPR the entire property, adding 3 more homes on the other half and and selling each home individually we split the profits. I have a Real Estate agent giving me the 411 on this property, did a walk through with my licensed contractor, have an estimate from him to do the job. I have no idea what its going to cost me to CPR this property. So before i meet with the owner can anybody give me an idea or point me in the direction so I can have a clue if this would be worth even looking into. Thanks- Ryan

p.s. sorry for the novel