Updated about 7 years ago on . Most recent reply
Demolishing a Property and Building from Scatch
Hi everyone,
My name is Josh and I'm from Denver, Colorado. I'm completely new to real estate investing but I have some close friends who are fairly experienced investors. I have a question about demolishing a property and basically starting from scratch. I'm looking at a property in a really nice neighborhood in Colorado but the foundation of the house needs to be completely demolished and rebuilt. The property is about $130,000 and I'm assuming it will be around 250-350K to completely rebuild the house. I want to rebuild the house into a duplex/triplex/quadplex. Does anyone have any experience with this particular situation? Is it to risky for a first time investor? I included a picture of the property to give everyone a better understanding of what the house currently looks like. Thanks for the help!
Most Popular Reply
The most important thing for you to check before you get too into this is the zoning. If it's zoned for single family house , you can only rebuilt single family house