All Forum Posts by: Joshua McGinnis

I do not have a million, but would consider myself knowledgeable.

Hypothetically, I could build a $4MM home and even with the cost of the land, sell the home for $10MM+.

Obviously, a considerably amount of due diligence needs to be done to verify that upside and understanding the risks.

What would a partnership between the owner and a contractor look like? Would kind of loan would this be and would be the process for pursuing this route?

There is a great piece of land in Beverly Hills, CA listed for around $4.5MM. I think this property would make a great new development.

I'd like to finance the land and the construction of a residence for resale upon completion.

What options for financing do I have?

@Rich,

Do these apartments you speak of in Texas/Utah rent for $3-$6K a month? That's the difference. I'm near Beverly Hills where a decent-sized apartment can cost this much.

- Joshua

Hi Everyone. I have an investor friend who has expressed interest in investing in an income-producing property with me.

I'm finding potential properties, but I'm not sure how to structure the deal. Basically, my partner can bring to the table a lot cash - something I can't. I bring to the table finding the deal, and essentially managing the property, expenses, operations.

Here is a duplex that has the potential to break-even, if not net a little cash, from day 1: http://www.redfin.com/CA/Los-Angeles/104-N-Harper-Ave-90048/home/7093197

My question to those more experience is, say I wanted to approach my investor friend with this property, what kinds of deals could we structure such that he'd be willing to invest in acquiring the property, we both acquire interest in the property, and we each obtain some sort of gain in the long run.

I hope this makes sense. Basically, I'm trying to put together a business case. I've never used an investor before so I want to make sure I tailor a business plan towards something that is mutually beneficial to both of us.

I should also mention that he is a bit older - which could come into play with respect to how he plans to treat the investment. For instance, he may put his ownership interest in a deal under his estate so that his beneficiaries receive the benefit.

- Joshua

Thank you all for your feedback.

How would you all recommend I go about finding a real estate developer that would be a mentor in my area?

Thanks everyone. You've given me some helpful hints. I wasn't looking for an actual dollar value because as you mentioned, there're are too many variables involved to do that. Rather, I was looking for a range and an idea of some idea of how to come close to the figure. It sounds like talking to a reputable contractor in my area would be the best first step. Thanks again.

Hi Everyone,

I'm in the LA / Hollywood / Beverly Hills area and along with an investor, we're looking at building a new multi-family development.

There are several listings with lots that already have approved plans (and some without). For the most part, I have enough market data to put together a decent business case for making the investment (land values, rental data, local re estate market, etc) The one piece I'm missing is the cost of building the new building to spec.

How do I find the cost of building a 4 to 15 unit multi-family property in the areas I'm looking? And does anyone have any good resources that describe the process of building a new development?

Thanks!

Hi Cheryl,

That would be great. I'm interested in investing in Waltham and surrounding areas (Watertown, Newton, Weston, Lexington, and Arlington).

I'll send you a contact with my info.

- Joshua

Thanks. I'm a software engineer for a public company (I'd rather not say for privacy reasons). My background is in web dev and online marketing.

I've saved a bit of money for making an investment. I'm here to either find a good deal or find a partner that would want to do a deal with me.

Long term, I'd would like to start my own development firm.

Hi Everyone,

I'm new to the board and just thought I'd introduce myself. I'm a software engineer in the Boston-area (Waltham), but I have a strong interest in real estate and development.

I'm here to learn and network.

Hi! Anyone else in my area here?