Post Summary

#יםמההשבויOri Halpert #Post#6

There is another field that I recently entered, and since it is new to me, I do not bring investors into it, but use equity and bank financing. I would prefer to go in with investors but feel irresponsible and prefer not to take the risk when investors' money is involved in a new field.

The field is luxury homes, $1,000,000 or more ARV. The direction is to buy old and small houses in the city of Birmingham, Michigan, take them down completely and rebuild or enlarge an existing structure.

Today we are increasing an existing house from 2400 SQF to 3600 SQF and of course doing a comprehensive renovation of the entire existing part and giving the house a modern look that is very much in demand in the city.

Today I am looking for more investors who would like to join me in investments based in Detroit. All the deals in the neighborhood I was talking about look very, very similar. In the scope of the renovation, in the value of the properties and in the location, therefore the certainty for the investor is relatively high. I am not yet adding investors to the operation of the luxury houses until I know 100 percent that it works according to the plan.

Another thing I've been thinking lately, is that it's time to add a partner to the activity. Preference is given to someone who already has experience in real estate as an entrepreneur or investor, of course does not have to be in the Michigan area. I need someone to complement me where I am weak. I know how to testify about my strengths, but just as importantly about my weaknesses.

I am looking for someone who knows how to take the business to the next level together with me and this of course means that you need to be organized and orderly in the broadest sense of the word), but also know how to take the business to the next level whether through technology and software (project management, various real estate software, etc.), deal with Information management software, knowing how to optimize the processes and that together we can scale up the business. Either by increasing the existing one or by switching to multi-family, or rather by purchasing large volumes in developing neighborhoods, as I described in the posts, or perhaps in new construction or any other area that can jump the business to the next level.

For those who think it is relevant, I would be happy to explore cooperation. In addition, expanding outside of Michigan is also an option that is on the agenda for me.