I met with my builder Friday afternoon. It was a definite eye opener as to the many things you need to do in order to build new construction.  My builder is a woman who has over 40 years of experience as a builder and many years as a reputable realtor.  I felt like a sponge trying to soak in everything she was explaining to me.  The way I set up my relationship with this builder is that, for a discounted builders rate, she will sort of mentor me through the project and I will do all the leg work.  I will be the gofer in getting the project moving and keeping it on schedule.  Of course for the things I cannot do because I am not licensed, will be handled by my builder.  I want to learn the ropes and begin to establish contacts in this particular field of real estate investing.  My experience as a rehabber will be very helpful but being a builder is definitely more involved.

At this initial meeting, my builder (let’s call her Linda) brought me up to speed with some of the things we needed to consider when deciding what to build on the land. My initial intent was to split the 2 LOTs into 3 adjacent LOTs and build 3-Duplexes.  She already had the tax map and zoning information from the city.  The tax map was hard to read but we had the lot dimensions from the tax records.  Based on the two documents, we can figure out what zone my LOTs are in and what you can build on the property based on the zoning laws.  My particular LOTs are in zone R4.  But guess what, I don’t have my documents with me so I really can’t explain what that means now.  Stay tuned as I will continue Part II of this post.

Happy Real Estate Investing….