Looking for fearless partners
I am looking for partners to help attack the affordable housing crisis in Atlanta.
Over Memorial Day weekend I spent time thinking about how to effect the world in a tangible way, instead of just living an unfulfilling life looking for the next flip or laying around like a little cow waiting for rent checks.
Sure, as house flippers, we help people out of dire situations all the time. But what if we did it at MASSIVE scale? What if we had a direct effect on getting entire communities out of poverty?
To do it, I have a very simple plan in mind thus far:
- Purchase properties as low as possible as we currently do to reduce capital risk
- First half of the properties purchased should not have yearly rental increases past 3%
- There are grants and loans that can also help spread our liquid
- Property management not your thing? I will cover each property for $50 per month as I am partnered with a local brokerage...This may sound ridiculous, but I am not interested in money, I am interested in fulfillment.
- The other half, we can align with the market every year
- At just 100 homes charging $500 average, we can make $50,000 per month
- If we increase rent on half of the units by 50% within 5 years which gentrification has historically done AND is doing much faster, that can be $62,500 per month
At an average purchase of $30,000-50,000 which I get leads for all the time. It is a very realistic possibility we surpass 10% returns per year. Eventually higher.
And what's more exciting? Once we attack the problem here at scale here in Atlanta, we can apply it to other cities in America with the same dire need.
If you are interested. Give me a call and let's get to know each other over lunch.
Thank you,
Ivan
678-982-8854