Updated over 13 years ago on . Most recent reply
How would you handle this deal
90,000k Duplex 2/1 & 1/1 in need of major renovations on a 9500 sq ft. lot. Purchase includes two similar lots. Owner is willing to finance. I have not discussed terms yet. Nor have I inspected the property.
Its in a college town & will rent for ~ 1100 with full occupancy.
ARV shows at around 150000k
What I would like to do is Remodel the first, get it rented out, then build two 3/2-3/2 duplexes on the other two lots using construction loans. I have absolutely no experience in developing. Any ideas?