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Updated over 17 years ago on . Most recent reply

User Stats

39
Posts
1
Votes
Andrea Hewitt
  • Real Estate Investor
  • NJ
1
Votes |
39
Posts

Taking a big step.

Andrea Hewitt
  • Real Estate Investor
  • NJ
Posted

So, far I own one real estate investment, that is 2 months old. So, I do not have much experience.

I want to take the leap into Real Estate Development.
A few blocks from my house, at a busy 4 way intersection, across from a small strip mall, are three un-occupied and sad looking houses, all in a row. They are screaming to be demolished and replaced with condos.
I do not know how to do this.
All I know so far is that I can go to the town hall to check the tax records to find out who owns the properties, how much they are valued at, and if the zoninf got those lots will support new condo construction. If not, I will discover what it is zoned for. Maybe I could build three new 2 family homes.
If is after this step that I do not know what to do.
Any advice on what my next steps should be?
How do I find people to demolish and build for me that have a good reputation. What sort of financing is available for this sort of project? What kind of cash will I need to have in reserve to pull this off?

The properties have been vacant for quite some time. I drive by them several times a day and can hear them calling my name each time. I hate to let a good opportunity pass me by that is so close to home.

Please help me make this happen!!!

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