All Forum Posts by: David Casey

Quote from @Quito B.:

if you ever do end up selling the land I know an investor I've worked with before who buys it vacant. If not, I'd love to help property manage.  

@Quito B. Thanks Quito, I’ll let you know.  

Quote from @Barry Ruby:

@David Casey David, you need to learn how to determine the highest and best use of the property and run proforma analysis before spending time and money on 3rd party consultants.

Let me know if you need any help doing that.

@barry 

@Barry Ruby Barry, Thanks for the reply and the land is Zoned SF residential but the topography is challenging, lots of ledge so road construction and wet utility work will be expensive.   Houses sell in the area for $1.5 mil+, 55 plus housing sells for $1.2 mil.  I’d welcome a discussion.  Thanks Dave 

Hello,  I have a 15 plus acre piece of land that I would like to subdivide and im trying to get some ideas on the best way to proceed.  I’ll have to bring in partners for sure.  I effectively own the land outright and would bring that to the table.  I bought land with a house where I presently live.   My driveway would need to be converted into a town road or private way, there are  2 hydrants on the property  already with 1  septic for our house.  There is a utility easement for Power and Cable.  Note:  I have some experience in small multi family construction and renovation.  I’ve also carved up a few small single family lots over the yers.  The concept of doing a larger subdivision is new to me but I wanted to take on a bigger challenge.  I’m open to any / all suggestions on how best to proceed. So far I hired an engineer who is flagging wet lands, doing boundary work and creating digital topo maps.   Note the market nearby is very hot, very few homes on the market and I was considering 55 plus housing to gain density plus address the lack of options serving  this demographic. Thanks, David 

Thanks Ryan, this is perfect, at this point just trying to gauge interest in my idea so this is exactly what I need. Much appreciated. 

Best,

David 

Thanks, I do have a lawyer that I've used in the past on residential investments.  I'll reach out and see if they have something. 

Thanks,

Dave 

Hello, I'd like to make an offer on a commercial property and wanted to see if there is a good template that investors have used, I can seem to find any on Bigger Pockets.  Do you recommend bringing in a lawyer at this stage or does it make sense to wait until the offer is accepted? 

If anyone has an example it would be greatly appreciated, 

Congrats, thats a great story!

View report

Hello,

I've owned a few small multi family apartments and my primary single family for years.  I'm looking to expand / grow into larger multi family and wanted analyze a deal with 12 - 14 units in a condominium complex.:  12 are owned by 1 owner and 2 others are separately owned.  I'm looking to see if it would make sense to acquire all of them and combine into a multifamily or flip as individual condominiums.  Presently they are zoned as condominiums and taxed accordingly, if recombined I assume we could file for an abatement and get the taxes reduced.   I welcome your thoughts and to see if anyone has interest in discussing this deal further, possibly partnering. 

*This link comes directly from our calculators, based on information input by the member who posted.

Thanks Chris, are you suggesting10-20 is too small to get decent property management focus and therefore be a larger version of the headache of 3 small multis’s? Is it wiser to find partners and go for something bigger 30-60 - above?

Hi Matt, the current owner bought it w/o doing the right due diligence and was shutdown. They run the risk of losing the property to demolition. They spent money partially gutting the house w/o permits. House is too big to easily downsize as it’s almost 6000 sq ft so as a 2 or 3 family rental it would be massive. Is 50 a sq a reasonable rehab est for kitchens, baths all systems, electrical, plumbing, plaster, paint? Lifting house and putting parking underneath is an option but assume that would be very costly.