I told him I couldn't give fair price sight unseen and asked if we could coordinate with their property manager to view the property.

But per lot it will cost roughly the following:$1,500 Electrical poles, meter installation $2,000 water taps and connections$5,000 grading and land prep$8,000 septic installation (assuming a 1:1 ratio of homes to 1000 gallon septics)$5,000 down payment on each home ($700-750 / thereafter per unit)$21,500 total set up x 17 = $365,000Ongoing expenses after development would look something this for POH model: $12,750 a month in mobile home mortgages (17 x 750 for PITI on each unit) $1,900 a month in land mortgage PITI (house) $3,000 a month landscaping$2,000 a month in reserve emergency fund$2,200 management$21,850 a month total expenses $262,200‬/yearOngoing incomes after development would look something this for POH model:$27,000/month ($1500 x 18 {17 mobile homes plus house})$324,000/year324k-262,2k = 61,800 net pre-tax profit or $5,150/month.Opportunities to reduce start up expenses: Bulk deals with the government or contractors for doing all the work at once (electrical, water, land grading, septic) Trade free rent for someone to mow and landscape (turning a $3k event into a $650 event every month).

I’m not sure this is relevant, but Realtor B has done a lot of work with the developer over the years on other projects and they have other current listings together.  

I’ve watched multiple episodes on YouTube and I’m excited to join and learn about real estate, retirement and money management. 

During 2025 and 2026, construction activity under surveillance is projected to deliver a total of 2.8 million square feet.

Grand Rapids is definitely a good market for multifamily investment as it has also seen rent growth unlike other parts of the country for multifamily.It is also a more affordable place to invest compared to other parts of the country and Grand Rapids is generally landlord friendly.A quality property manager is essential for an out-of-State investor and there are some good ones locally.To Your Success!

You use the funds of others to fund the deal, you do the work with rehabbing, renting, and managing side of the deal and both you and the initial investor whom invested their funds split the profits 50/50.2.)

Further, probably 35 million people in the U.S have the necessary knowledge and skill to manage a $100,000 property; maybe 3500 have the ability to manage a $10,000,000 property.Here’s what it takes for success as a real estate investor : knowledge, experience, capital.

I do hope you somehow manage to solve this real estate problems.

I have an opportunity to build mixed use apartment and I want to get an expert thoughts on the projections and what should I be spending on construction to make this project profitable.