How Can I Get Started In This Ridiculous Market?

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Prices are all ridiculous [ Edited by dave41082 on Date 04/22/2005 ]

Comments(4)

  • JeffAdams26th February, 2004

    You need to target the pre-foreclosures and "absentee" owners.

    I would also suggest eduating yourself.



    Best Riches,
    Jeffrey Adam
    [addsig]

  • Lufos26th February, 2004

    In Washington D.C.

    Repeat after me, "Our Father who art in Heaven." Ok! Stop, we have registered our consternation.

    What you do now is look for the slumy property that is vacant or boarded up or has been red taged to the point of a major color change. You check it out and see what the possibilities of converting it into multiple residential.
    Check closets to see if you have enough space to convert into bathroom. You scale everything down. Now is the time when a childrens room can be reduced to a space 8 feet by 10 feet. Tight but that is what you do.

    The town house a single family you convert into a tight four sort of unit.

    Interesting out here in LaLa land a new record was set in the valley for a tiny little residential area lot which is zoned C-1. How who knows it is there only 25 feet by 110 feet but thank god to an alley. Just sold for $235,000. The plan is down 8 feet for a semi sub garage parking space and four tiny little units two on www.two.Crazy insane but thats the plan. The new owner is cocky wrote the book on everything and he is going to force it through Plan Check. Dying to see what happens.

    Of course the other plan is to gut out and insert sleeping rooms with a sink and toilet if possible. Tight tight, but if you could get 8 sleeping accomodations with maybe two full baths and the little emergency facilities incased in each room.

    This kind of thinking will not reward you with a place in Architects heaven. As to Urban Planning development forget it, but your pocket book will reflect your skill in cramming. Has it been done before? Many many times from London in the 1870's www.on.Think about it you are supplying housing. Besides as a nation we are too fat and this type of housing is most responsive for the slim.

    Cheers. Lucius

  • LloydDobbler26th February, 2004

    Lufos...you rock. Would be interested to hear where the C-1 property is out here.

    Sounds almost typical, these days...

    Regardless, as always, love your informative responses.

  • keoki26th February, 2004

    I work the DC market, if you need some advice or help, IM me and I'll try to answer any questions or point you in the right direction.

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