I am looking into investing in some mix use properties in both NY and CA where I can upgrade energy efficiency, add solar and other renewable measures, and hopefully take long terms costs down to a minimum for myself and for tenants. I know the financial side of this, and how to make it work, but for the actual property.... I'm at a loss. Where do I start?? I own a home that I am currently renting, but need some advice on next steps. I have some money set aside specifically for this purpose, but where do I look? Where do I find my "go-to-guy" who can handle day to day stuff? What do I need to know getting into it?
@Chris Stabile go find a condemned house or a house that didnt sell at tax sale as it sounds like you will be putting alot of work into it anyways. Welcome to BP BTW
@Chris Stabile i was trying to figure out a way to get energy efficiency to make economic sense. power company had some incentives. think there were few small federal tax credits. just did not seem to be cost effective.
curious how to make this cost effective?
@Chris Stabile welcome to Bigger Pockets. I suggest you start by checking out the free Ultimate Beginners Guide here on the site.
Welcome to BP! You could partner with an experienced developer that specializes in the property type you are going after. I would imagine you need to find distressed product to make the upgrades pencil. Are you going after historic? There's obviously a lot redevelopment in urban cores (warehouses etc) that are perfect mixed use developments. Depending on what price point you are talking about just bringing the sustainability rebate/grant/credits etc experience might not make sense for the developer (they would generally contract with a consultant to handle this). However if you are also bringing capital to the table then I think you could find a solid JV partner. Also like recommended I would explore the site, learn as much as you can about the basics & continually build on that base. Good Luck!
Sounds like a unique niche, and if you can make it work, great.
Start by building your basic knowledge of investing by joining local investment groups, reading the free material given here, and once you have a more specific question vs "where do I start" you can start to get real direction.
THIS is where you start. Bigger Pockets. Question are good, but the specific question of "where do I start" IS what this site is for and all the information is here. Just look and when you find stuff, ask and dig in.
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