Hello,
I have found an interesting plot of land where it would be possible to build a house with 8 apartments.
Assuming I find 7 other families who would also move into the building, is this theoretically feasible? I imagine it wouldn't be easy to gather the money for the land from all parties involved.
Who can I contact for advice?
Thank you!
I have found an interesting plot of land where it would be possible to build a house with 8 apartments.
Assuming I find 7 other families who would also move into the building, is this theoretically feasible? I imagine it wouldn't be easy to gather the money for the land from all parties involved.
Who can I contact for advice?
Thank you!
@nordanney and what if you do it this way:
I "reserve" the plot
WAI (whoever that may be) handles the project development, which is paid for
Buyers sign 8 purchase contracts with WAI
Ongoing costs are paid by the buyers
Or is the whole thing (financially) not worth it, and it would be better to just buy the next available apartment?
I "reserve" the plot
WAI (whoever that may be) handles the project development, which is paid for
Buyers sign 8 purchase contracts with WAI
Ongoing costs are paid by the buyers
Or is the whole thing (financially) not worth it, and it would be better to just buy the next available apartment?
Who takes the risk should also reap the profit. The original poster does not want to take any risk, so they must also pay for the "profit" and the work of the developer. Why should the developer agree to profit-sharing arrangements, etc., if they have nothing to do with the land itself?
N
nordanney7 Feb 2013 09:11Your suggestion is basically the same as the option of buying a condominium directly. WAI manages the project and its profit.
Either YOU take full responsibility for the project (including selling the apartments) or you simply buy one apartment. A middle ground is difficult and, in my experience, doesn’t make sense.
Either YOU take full responsibility for the project (including selling the apartments) or you simply buy one apartment. A middle ground is difficult and, in my experience, doesn’t make sense.
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