Two Paid off lots/build a couple fourplexes?
Hello, I'm pretty darn new to the Real Investing gig. I've already ordered the Carlton Sheets course gone thorugh it twice and the CDs and tapes, and am still going through them. I've also been reading books by Robert Kiyosaki and a few other Real Estate books.
Right now I'm feeling a little overwhelmed with info and don't know where to start. Well talking with my father recently I found out that my grandfather has two empty lots sitting across from a main high school in Texas all paid and sitting there. I've checked out the rental rates, and the basic cost of the land, how much I might be able to borrow from a bank and some basic expenses. I haven't really dug into the numbers yet because I wanted to run it by this group to see what my best options are. But the numnbers I did work with looked quite promising for renting the property.
Should I build two fourplexes on the land and rent them out, or up the rents once and split the fourplexes and sell them each seperately? Giving me a little nudge in a direction with some info would be a great help from the investing gurus that wander this site. Any help is greatly appreciated. oh and I understand being young might have a hinderance upon me but does it really hurt me in ways that I should be aware of I'm 23. Thanks again
-Rainnwolff
(Joshua)
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