Advice about potential investment opportunity

[Nathan Doherty]

Hi everyone, I’m looking for some advice. My mother has a property that she currently occupies. She has a mortgage on the home and owes around 110k. The house itself is from the 1950s and not in great shape. Because of the neighborhood it’s in she still has equity in the home as it’s valued around 190ish I believe. She’s stubborn and doesn’t want to sell for less than 195k. Based on comps, a new construction on her property should sell for 400-500k. I would love to figure out a way to tear her home down and build new construction then sell the house but I have no experience In that field. Looking for any advice or opinions. One thing I have considered is possibly getting a hard money loan for the new construction then paying off the loan once sold. Thanks in advance!