Complete tear down and rebulid for my first?

[David Pickard]

Hello,

I am still new to REI and would like to do my first deal soon. I have a family member who has a single family home and has not lived in it for over a year, for a very good price. There are a lot of problems with the property from years of neglect. The property is large (for the location) and is in a great location in the town.

My idea would be to tear down the existing SF structure and have a multi-family home built in its place. Would this be a good idea for someone who is brand new to REI? What would be the best way to approach this situation? I would like advice and criticism from everyone, so please fire away.

[Dennis Jayy]

I have done that several times and I like to do it.  However it must be in a good or better location.

Suggest you talk to an architect  . Will be free or very inexpensive. He will answer all your questions and then you will know what is going on. You might even find it is cheaper to have him direct and guide you in the building of the first one. It will be cheap education.