Financing/Partnering for multiple property construction? *Novice*
Hi,
Complete novice here but I have long wanted to get started investing in real estate. However I have never found the right time to get started.
Recently I found a property which has really piqued my interest. Its a house being sold with 3 lots of land, in a decent residential area near a major university and the city itself is investing in a streetscape project to improve the aesthetics of the neighborhood, so it seems like a good place to invest. I know the area well, having lived here 4 years as a renter, inculding as a poor graduate student.
So my question is, granted I run the numbers and there is money to be made(which at first glance there is), how would I go about finding financing or partners willing to invest in building at least 3 new properties(looking at the lot sizes 4-5 houses could reasonably be built granted zoning allows subdivision of lots), for student rentals. Since that would require a much larger financial committment than just one property.
Particularly since there will be a learning curve and probably some hand-holding, with the only things I really bring to the table being time and motivation.
Any advice would be greatly appreciated!