I’m gonna use these post as my own personal diary hopefully people can help me along the way.
I started two years ago buying tax liens because I read, Rich dad poor dad, like everybody else and eventually I acquired one of the properties at auction
tax lien for $250
additionally paid $3500 to settle all outstanding liens and to pay any fees so now I have a 7500 square-foot corner lot 6miles from the beach.
The lot has an $8500 impact fee credit because the previous house on it was demolished
I am in the process currently of filing the TDA for five of the adjacent lots to create a 45,000 square-foot swath all dedicated to a Coliving Model, 6 miles to the ocean
Now I’m starting to collect bids from contractors to build a 3/3 bed/bath 1340 square-foot dog trot style house for our first shared space
I’ll let you know how the bids come in and just for reference I’m trying to do all of this on the East Coast of Florida
I bought a binder and am filling it with my progression and future steps
Currently looking for a land surveyor.
So right now we are on two paths. Trying to raise capital and trying to acquire land. Currently, our capital raise to finance the build of our first house is the most important goal. So we have accepted an offer on one of our vacant lots to help raise capital for the build of our house. I’ll let you know when the deal closes. We acquired this property for $4040. And will be selling it for a little over $9000. #coliving #lovethefort #ekhaya #fortpierce #florida #biggerpockets
Continues in deal diaries