I imagine there may be steps to take with the city upfront to determine if in fact the ground on the lot can be built on, but some general guidance or tips on best place to start and what to expect throughout the new construction process in Buffalo.

I would discuss financials on this if you choose to come see the pre-rehab on Dec 1 (I have made a lot of money (close to 7 digits after this rehab is done in ~2 months) but due to not executing a cash out refi (due to the rate increases) my return is below my underwriting).

Congrats on your first project.

I am trying to do this the right way, so with this post I inquire for advice on getting started.

There are also other large hospitals in that area too, so you aren't just relying on Mayo. 

The LLC will have zero impact on lending.

A well-placed hotel or Airbnb may outperform traditional apartments, but this depends on zoning and market demand.I hope this helps clarify the steps and gives you a good starting point for your land development journey.

First off, huge congrats on making the jump! 

Hi Scott, are you looking to be a passive or hands-on real estate investor?

Purchase price: $605,000 Cash invested: $12,000 Sale price: $785,000 Contributors: Peter Vekselman Partner Driven and Ann Mesa purchased this home for $605,000 on 06/27/2024, invested $12,000 in targeted renovations, and sold it for an impressive $785,000 on 11/15/2024.