All Forum Posts by: Jared Orme

Ok. I have 6-acre piece of land. I am hoping to get feedback from others who have success with any of the options.

Here are the attributes of the land:

4 acres cleared and is currently a pasture.

No Fencing.

2 spring fed creeks.

Local mountain views.

Zoned ag and cannot be divided up into less than 3 acres, or two subplots.

Currently valued at 100k.

Market considerations:

Located in Georgia's growing wine and apple country.

2018 has the lowest sales rate in homes for a long time - Unknown how this area is impacted.

Have tried to owner finance sell it. ALOT of yes' but no-one is getting to closing. 

Several directions I am thinking I can do with this property.

1. Split it and put in two single-wide trailers and Owner Finance or rent them out.

2. Split it and put two in two double wides. Swap out the siding for Real wood siding for a log cabin feel. Install Porches.

OF, Rent or outright sell each.

3. Put in a modest log cabin that would sell all 6 acres for a homestead.

4. Split it and put in two log cabins 3-acre homesteads.

Thoughts? 

Conceptually, I believe they would all generate the same amount of profit/effort. Which bodes the easiest and most successful option?

Some suggestions from my experience.

If you stilled owned the property you would have to assess the risk to the property. I have had inner city and country tenets that would make 'darn sure' they get their money out of me.

If the renter can take it out on the property then I usually negotiate to their satisfaction. I would pay them the newly negotiated remainder when the next tenet entered the property.

You are not obligated for this but it makes for a good financial decision.

There are some that I do not mind having that battle with. A good renter that paid on time I would negotiate. There are those who do need to be dealt with punitively. Of course, properly vetted tenants are what I do now. Past landlord references etc.

The bad ones that constantly exploit landlords only do so because of new landlords who do not vet their tenants. They are only looking at filling vacancies as quickly as possible.

Some areas don't have a good tenant pool.

Thank you for the warm welcome!

Hello!

Thank you for touching base. I'll shoot you a PM.

I was hoping to connect with active contractors in the North Georgia area to work on several rehab projects.

I also have a foreman I would like to aid him in getting his general contractors license. He has quite a bit of experience and we have several build projects coming up.

Looking to connect with other investors in the Gainesville GA area and surrounding counties.

I would like to be able to just join some group meetings and get to know everyone.

Maybe some coffee, garner insights or even buy a house or two.

Hey Rob,

 Thank you for the insight.

 I was looking at a General Liability, Builder's Risk Liability, Errors and Ommissions and the a workman's comp.

 I did not know which agency contractors use with best policy and least exclusions to value.

 Also did not know which one's include day laborers and such.

Hey all,

 I am wondering what the best type policy and best company to use would be for flipping houses?

 Basically, the intention is for my job foreman partner to increase the amounts of work that he will be doing including roofing. 

 Is there good short term insurance to put unlicensed contractors on? 

 Any other insights?