Quote:
Originally Posted by 5th Tuition
Condo's
30 units at $500,000 would give you $15,000,000 
Buy the place for 4 mil.
Clean up 1 mil.
Build units 5 mil
----------------------
cost 10 mil
Profit 5 mil
and, you can still rent over 100 slips for an annual profit
Maybe even put in a small resturant.
Hey; I've got to talk to Capt. John 
5th (Marty) |
The neighbors are one factor in a zoning change. Make it appealing to them and they won't oppose a change.
Another factor is traffic. Reduce the volume and it also makes a zoning change appealing.
A big downside factor is sewer allocation. I doubt that property has the allocation for 30 units or a restaurant. Acquiring allocation is a deep pocket venture in itself.