This is my first time on the forum. I am a new investor, but have big plans, want to do commercial eventually. Anyway, I am looking at a house with 2 lots attached and the possibility of buying a third next to them. I think it would be a great investment for development and want to know how I find a partner or developer that might want to build house on these lots? I have no money for a down payment and the total for the house and 2 lots is $210,000. Any suggestions? ???
I would suggest trying to tie up the properties with an option then look to flip the properties to a developer. In the scenario you described, you have to bring something to the table: either money or the ability to manage and complete the project. If you don’t have either (yet), you should try to put together people who do and then step aside. Or, see if you can learn the project management-side of the equation. Maybe get hired by the developer as an assistant or work for a small percentage of the net. Without cash, you’re going to have to get creative!
To DDavis: Thanks for your suggestions. I know I have a lot to learn, I am just not sure where you learn it from. Tina