Looking to possibly build investor team

Rental Property Investor · Long Island, NY · Member since 2019 · 30 posts · 7 votes

Hi all,

I run two group homes on Long Island. Have two single families under my belt but have not purchased another property in years. I was connected to a property here that I am very interested in but it is out of my price range.

To not give out too much information the property is a religious building that is no longer needed. I'm gathering info on what sellers are looking for but wanted to dip my toes here to see if there are any investors looking for an out of state (or in state) real estate deal where I manage the operations (not a regular rental).

Excited to discuss further as I gather more details but very confident in this property and looking to nerwork more in the real estate industry.

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Abel CurielBusiness Member
Real Estate Agent · Queens, NY · Member since 2016 · 2k+ posts · 1k+ votes
5mo
Hello @Dan Colantonio!
Sounds like an interesting deal. Not sure what the requirements/restrictions are but you might be able to post more about the deal in the classifieds section. This will allow you to attract investors looking for similar projects while keeping some of the deal info (i.e. address) private.
For networking: let your friends,fam,etc. know what you're working on, you'd be surprised how many investors are in your contact list right now. Aside from that, stay active on these forums, set up keyword alerts, attend local events, etc. Your partner is out there somewhere.
Would the deal entail converting the property's classification?
One of our clients beautifully converted a religious building into a 1-family home within a Nassau County village.
The process to convert property taxes from commercial to residential was lengthy and costly.
Hoping you all have an easier go at it!
Abel
REbuild Team - eXp Realty5234 Reviews
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Dan Colantonio
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Rental Property Investor · Long Island, NY · Member since 2019 · 30 posts · 7 votes
5mo
Hey, thank you for the response. I'm not actually looking to convert the building. It was used for a drug treatment program for woman. Would like to actually continue the use as is but looking for investors to possibly acquire the property with me. I will definitely give the classifieds section a go.
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