Hello BP!
This is my first post. So I'll add a little info about me. I have a single family rental in the Nashville area but now live in the Bay Area (Walnut Creek) where I am closing on a condo tomorrow. My dad was a relator and I work in Banking which is the basis of most of my investment knowledge.
Anyway, I found a house in the downtown area of the (party)college town I attended, about a 3 hour drive way, in northern California. It looks like a total teardown, boarded up for years, built in 1900 the works. However it is a short walk to campus, prime real estate, 3050sq ft lot, 1700 sq ft house, the owner recently deceased and was passed to his son who wants nothing todo with it. I can get it for dirty cheap however after doing research on the title and the city, I found that it is one of those "historical registries" and any demo/build/remodel will need to be subjected to architectural review. I do not have deep pockets to flip this one, and I have never done a total rehab especially with a historical registry. What should I do? Wholesale? Present to investors?
Many thanks for your time, looking forward to any direction.
More info, it is zoned to have up to 4 units on it.
I am confident that it could gross over $4k a month when/if completed.
