X Close Editor

Submitted by: Tom Karadza

Title

Comment
Hello Aspiring Millionaire! Thanks for the question. And I would have to come back to you with a question. What was your goal when you bought the property? Long term appreciation? Immediate cash flow? Quickly force up your equity position and sell? Do you need/want to sell quickly and get out of the situation? It sound like you want to sell and are looking for the right strategy. You'll need a decent amount of cash to get through any re-zoning, new construction and carrying costs of a build. You'll also have to deal with contractors and turn yourself into a mini general contractor to oversee the project. None of that is bad, just be aware of it. If you're looking to sell quickly doing a build may not be the best option. I would talk to an experienced Realtor in the area and ask him/her for comparables of your property "as is", "split into two", and with a "dream home" on it. Once you have that information I would imagine it will help guide your decision. I realize I'm not helping very much here! Reply with more detail around your goals for this and I'll add more! Tom.

Cancel Delete Delete & Ban

Updating Comments page...