Hey BP community, I'm an 18 year old aspiring to get into real estate investing. Recently while looking through houses on the market in Hillsboro Oregon, I found a SF house sitting on a piece of land that is zoned for multi family residential houses. With the size of the land it is possible to build 4 townhouse style homes much like the neighborhood surrounding the property. My thinking is purchasing the property and selling to a developer but my problem lies in how to run the numbers. The house is currently on the market for $245,000 and I believe with as long as it's been listed and amidst the corona virus fears, that it can be agreed to a lower price. My question is how can I run the numbers to bring to a potential developer/buyer? I believe this could be a fantastic deal and developing like this in Hillsboro is far from uncommon, I'm just unsure how present it. Any suggestions or direction to past forums/blog posts would be greatly appreciated. Stay safe, thank you!
