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All Forum Posts by: Tarik Griffith

Tarik Griffith has started 1 posts and replied 3 times.

Post: Rookie Investor in need of rehab advice

Tarik GriffithPosted
  • Posts 4
  • Votes 0
Originally posted by @Steven Foster Wilson:
Originally posted by @Tarik Griffith:

Good afternoon BP,

 I'm currently lookin for advice on how to renovate property that was left to me. I have 2 two story properties adjacent to each other that are currently vacant and uninhabitable, the roof is collapsing and the wooden beams are rotting etc. I was advised by an architect friend of mine it might be better to tear it down and construct something new from the ground up. After looking into the zoning I learned that area will allow me to build up to 6 floors, so I'm thinking while I have this golden opportunity I should go for it all and build a 6 story apartment building, putting me at 24 doors to rent out. That is my ideal scenario, however my issue is getting the capital for such a large project with no experience. If anyone can point me in the right direction of how to go about this process I will be extremely grateful. Thank you in advance!

Go to a local meetup and connect with an experienced investor / builder. Give up 50% equity in exchange for your partner bringing the experience and capital.  

 How do you check the credibility of the developer you partner with....will a background check be sufficient? 

Thanks for the tips, I will be sure to utilize that advice.

Good afternoon BP,

 I'm currently lookin for advice on how to renovate property that was left to me. I have 2 two story properties adjacent to each other that are currently vacant and uninhabitable, the roof is collapsing and the wooden beams are rotting etc. I was advised by an architect friend of mine it might be better to tear it down and construct something new from the ground up. After looking into the zoning I learned that area will allow me to build up to 6 floors, so I'm thinking while I have this golden opportunity I should go for it all and build a 6 story apartment building, putting me at 24 doors to rent out. That is my ideal scenario, however my issue is getting the capital for such a large project with no experience. If anyone can point me in the right direction of how to go about this process I will be extremely grateful. Thank you in advance!