Posted by Ferris Anderson on June 27, 2007 at 14:20:59:
Your first order of business is to find out how much the renovation will cost. You need to contact first an architect and then a GC. Also you need to check with zoning and building codes to see if your idea is feasible. Next you need to find out how much the proposed condos will sell for. Finally once you have these numbers and if you think it could be a profitable venture you need to figure out how you are going to have atleast 20% to put into the deal and how you’ll be able to cover the debt service during the construction and marketing period. If you want to pursue this project further I may be able to be of assistance. I am both a Florida Realtor and mortgage broker. Just drop me a line.