I plan on securing my first land to build this summer and would like to hear anyone experience on doing it whether it is a tear down and rebuild, or securing raw land and re zone it or already rezoned land and build townhouse, semis or detached..I personally would like to start small.

If it is unpermitted, more than likely the city would make you demolish and rebuild from scratch if they will even allow that.

They have requested an inspector a few times, but never once had an issue getting a policy to cover the rebuild amount, not the amount of the sale or actual value.

A new foundation was poured and zoned for a single family home as a rebuild.

I've been starting to rebuild my MFH portfolio since moving back to Detroit, Michigan.  

But in this case the expenses of buying and rebuilding seem to be drastic and I'd like to see my money back in my pocket.

Only problem I have is i have bad credit (under 600) and will take some time to rebuild it, will this be a issue in my goals of flipping or should I find someone withing my social circle who is willing to go in on this flip that has good credit? 

I don't dissect their portfolios but with some of the recent extreme weather, turning attention to those markets that have had those types of events, which also means tapping into insurance claims to re-build, is a way to deploy product that has a higher rate of absorption.

This will ensure that if you have a total loss they will payout the cost to rebuild from scratch and not just cover your purchase price.

I was always fascinated by seeing something being made possible from just an idea on paper.I am hoping this website will provide me with a wealth of invaluable information and advice as I work to be a real estate investor.My very first project (which I'm still in the planning stages of) is my first home which I will use as my springboard/dive in to real estate investing and construction: I am hoping to buy a house in its foreclosure/short sale stage or a fairly run down property and subsequently "remodel" (but really rebuild) from ground up.My budget is tight and could be bordering unrealistic for the type of house I want and the neighborhood I'm looking at, but I don't give up too easily and believe that if I ask enough people enough questions, I can just about make it :)Anyway, that's me!