Posted by michaela-CA on July 05, 2007 at 12:50:19:
I would drive around an identify any newly constructed multi-family properties (I assume you mean ‘low density’, not ‘low intensity’?) that are similar. Also any new construction about to go up. Find out who owns/bought and get contact info for those builders. Find out what they paid forthe lot. Then you can send emails to those builders, that fit into the price range you want to sell it for.
Michaela
Best way to wholesale house for tear-down??? - Posted by Frank, FL
Posted by Frank, FL on July 05, 2007 at 12:13:04:
Hello everybody,
I have a new house I can wholesale. I have the property under contract for $350k, needs about $20k in repairs, and the comps are good at $520k.
What’s the problem? This house is surrounded by appartment buildings, and is zoned multi-family low intensity. The lot is 5,650 sq. ft, and in this area of Miami Beach, is below the price of a lot for about the same price. Waterfront lots (my lot is not waterfront) have sold for $700-$800k.
Question:
Is it likely for developers/builders to identify and pick up a deal in 15 days or less? what information can I provide to make the process faster? I am advertizing it bu price/sq. ft., lot size, and zoning. What is the best way to approach this?
I appreciate any help.
Thanks,
Frank, FL