In terms of growth, we're not expecting Dorcester/Chelsea to transform overnight.

Intel is a great example, who is building the largest chip manufacturing plant in the US right here, and it will be a $20 billion dollar investment that brings a few new thousand jobs.https://www.dispatch.com/story/business/2022/01/21/intel-ohio-building-computer-chip-factories-licking-county-jersey-township/9173472002/ Another example of economic growth is the upcoming Ohio State University Wexner Medical Center Inpatient Hospital which is a 1.9million square foot hospital that will bring over 800 new beds and a thousand new jobs. https://abc6onyourside.com/news/local/new-osu-hospital-expected-to-transform-health-careHere are a few more recent investments https://www.10tv.com/article/money/business/hydrogen-power-company-hyperion-bringing-700-jobs-to-columbus/530-25907aab-5517-4661-a9f3-d2ed2d5be6b0 https://news.wosu.org/news/2022-02-08/rumpke-to-build-50-million-recycling-facility-in-columbus Check out The Complete Guide to the Columbus, Ohio Real Estate Market which goes through the Columbus, Ohio market in depth and will give you a better scope of where the highest levels of growth are taking place and where to look to invest.  

Success in real estate investing requires also a personal transformation (who you are) and that breaks down in 3 steps.

Honestly, even my own spending habits have dramatically transformed from my first deal to now, but part of that is where I allocate my time, and what I pay to outsource to others.

If it was a junkyard, gas station, wood treatment facility, transformer factory, etc, it will be contaminated. a few months ago, i saw a default notice laminated and ziptied to the fence of a large residential MF project in Kitsap county, so i looked it up.22m dollar default!

So we decided to transform our large storage closet into our new office space and turned what was the original office into a second bedroom to list on Airbnb.

If you look at how Washington, DC has transformed over the last 20+ years, coupled with many other macroeconomic and demographic factors, it is simply a matter of time before EOTR becomes more gentrified.

But the hipsters are moving in and this neighborhood will be totally transformed in 5-10 years. 

It would transform that kitchen and add the value you're looking for.

You want at least a 30% margin above costs and the NOI needs to be enough to pay the debt service after stabilization and then some.If the project looks feasible from a financial standpoint the next step is to check with the city or county planning and zoning department to get an idea if your concept will work, if you can build what you would like to build and what is required for all approvals including site plan, building permits, proffers, water/sewer tap fees, bonding requirements, inspections, setbacks, lot coverages, parking requirements, height restrictions, C/O process and time frame for all approvals.You also need to check with the utility companies and get an idea of availability and cost estimates from them for water, sewer, power, gas, cable, installation and connection requirements, tap fees, hookup charges, transformer location and relocation, power line and power pole relocation issues.