All Forum Posts by: Matt Ten

I'm looking for a virtual bookkeeper who is familiar with best practices with house flipping, multi-family and short term rentals. I currently use quickbooks but am interested in optimizing my process and offload some of the manual work that I've been doing. Any recommendations?

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Westchester County, New York

Reviving this old thread. I'm thinking about buy and building on a lot (823 South Division St, Peekskill). Did you end up doing any investments there; would love to connect! @Cheryl Fielding @Anthony Piderit @Kevin Deady @Merav Thurston

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If you're going to build, you may as well sell the house "New Construction; never lived in!" is something you won't be able to say the minute you rent it out on airbnb.

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Quote from @Teri Feeney Styers:

@Matt Ten I bought a piece of land and went through the development process to the "paper lot" stage. Now I am selling the land to a developer who will build the infrastructure (roads, sewers, etc) and some or all of the houses. He may also choose to sell some of the "developed" dirt lots to other builders. The best place to start is a:) with a local Realtor who has either done development or represents developers. And b:) with the Planning Dept specific to the area where you are located. My planning dept listened to my idea and then provided me with a comprehensive checklist of what they would need to approve my project. It is much more complex and expensive than most people realize. "Dirt" needs to be cheap because by the time you do the engineering and all the required infrastructure that "dirt cheap" lot costs a whole lot more. For example - I paid for the dirt, spent $60,000 on engineering, drawings, etc. and the developer will need to spend another $900,000 to build out the infrastructure. That's before the first house can be built. My parcel is 3.25 acres and will be 18 building lots when completed.

@Teri Feeney Styers This is really insightful. Did you always envision selling it to another developer after you did your part? If you don't mind me asking could you share with me some of your metrics; what did you buy the lot at and what did you end up selling everything for (lot, engineering, drawings, etc.). Are you going to rinse and repeat this process or was it too much work for you to want to do again in the same capacity?

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Westchester County, New York

I've done three renovations thus far (ranging from simple to complex) but am eager to dive into purchasing land and building out multiple houses on them. I'm finding it a bit hard to gain a concise understanding of what the process is and how I should go about doing this; a cheat sheet per se. Using BiggerPockets tools, podcast, books, GC conversations, etc. it was very easy for me to understand more about the buy-beaten-up-property-and-renovate process but i'm NOT having any luck with the buy-land-and-build-on-it.

Does anyone have any advice? I'm thinking of reaching out to local developers and asking them if I can intern for 12 weeks but am afraid that I'll be their direct competition and they won't go for it.

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Westchester County, New York

@Alex Alleva found it on MLS and did a lot of negotiating. I see you're in the area too. I'm having a hard time finding anything worthwhile these days...trying to learn more about foreclosure process in anticipation of the next few months. How are you finding good deals these days in Westchester area?

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