All Forum Posts by: Dawn Eudy

@Andrew Newlon we are also new to REInvesting in Springfield. We have rehab'd two houses, the most recent in Seattle. We've moved back to MO looking the get into multi family. How do we connect locally? Thanks, Dawn

(Seattle suburb) With .75 acre corner lot, one 80 yr old house, one workshop with power. According to zoning (RS 7.2) this could become 4 lots, utilities are available. No right of way taken on side street, concerned about city's perspective, loss of  square footage.  The goal is to create capital to begin developing passive income, enough to start planned investments. 

Options we see:

1) Make ADU or house out of workshop, move out, rent both.

2) Subdivide, find Builder/Partner, Build one, payoff house, finance 3 based on one success. Sell 4 SFU

3) Work with Developer to get whole deal financed, share more of profits. Sell 4 SFU

4) ReZone? Duplexes, see #3, keep and rent or Sell.

What professional do we start with, builders or developers?  Are there strategies around financing that will determine best outcome?

Thanks for Reviewing this Deal!