Wholesaling Apartment Development
I'm currently talking to the owner of 3 adjacent properties in Mountain View, CA (old multifamily) who is waiting for the city to approve a permit to construct a 15 unit apartment complex on the 3 lots. The owner however is getting older and is interested in selling the project to another investor.
He got 1 offer a few years back at 9m but that investor doesn't seem to be interested in the project anymore. Currently I am looking for buyers for this project and am interesting in wholesaling it.
Does anyone have experience wholesaling a development project like this? I don't have experience underwriting multifamily development. How much information would a potential buyer want?