How do I begin in this business?
The only thing I want to do is buy new homes and townhomes (at least two at a time) and sell them.
I’m looking at lots to build on now. Then I’ll search for builders. I’m targeting single parents who want the same as everyone else; a decent, nice, and affordable place to live and raise a family.
How do I obtain financing for my project?
What’s my first step?
Single Parent wanting to help other single parents.
No one responded to the post so far so I figured it was time for my 2 cents.
Targeting or catering to single parents is a lofty goal but it limits your prospects. You have to go where there is profit and if two parent families or childless people want to be your buyers, that shouldn’t be an issue.
I admire your ideals I like your philosophy but here’s a suggestion:
Consider revising your goals. Instead of limiting yourself to targeting single parent families, use the profits from your ventures to help single parents in other ways. Then you are accomplishing your goals without limiting your prospects.
Jeff called it right.
What, You are married or you don’t have kids. Well I don’t want your money… :o
This is a business. You have to treat it as a business.
Philanthropist make their money, then give it away.
You can “target” if you want to but you can’t use your targeting as discrimination…the line may get very easy to cross with your personal goals. Federal law dictates that you cannot discriminate against marital staus or family size when you are dealing with real estate…
I’ve done a bit more research on equal opportunity housing. The single parent issue is somewhat similar to the active senior homes where only senior adults are allowed to live.
The wording can be misinterpreted. I’ll revise immediately. I’ll just make everything affordable for everyone.
Thanks to all for the information.
This is what beginners do. We ask questions and then we ask more questions, at least I do. There’s no excuse for ignorance when assistance is readily available.
Telli, I think you can do well in this business because you seem to have a goal in mind and are starting by asking some good questions. Read through past posts on this forum and go to the articles section. Both provide answers to some questions that you’ll later have.
If you want to concentrate on a specific property type, that can be fine, but just do some research on what the market is like in your area. Assemble your team and follow the investing principles found in the various sections on this site.