All Forum Posts by: Robert Ellis

This ALMOST FINISHED NEW CONSTRUCTION WATERFRONT TRIPLEX is getting close to being CO'd!!!!! LUCRATIVE OPPORTUNITY to INVEST in Rotonda West, FL! This triplex consists of three units, two of them featuring a 3 bedroom, 2 bath, 1 car garage with 1351 sq of space. The third unit offers a LARGER 1794 sq ft layout with a TWO CAR GARAGE, and an additional OFFICE/BONUS room and the same 3 bed, 2 bath configuration with full water views from the rear porch!! Each unit features PREMIUM AMENITIES such as IMPACT WINDOWS, recessed lighting, ceiling fans, LVT plank flooring, QUARTZ countertops, SS appliances, shaker ivory kitchen/vanity cabinets, soft close drawers, full height kitchen tile backsplash, energy efficient LED lighting, brushed nickel fixtures, epoxy garage flooring and so much more! Feature sheet available!!! The floorplans also include split bedrooms, a GREAT ROOM/DINING ROOM combo, foyer, INSIDE LAUNDRY and walk in closets in primary bedroom. SEE UPDATED PHOTOS!

Situated on the Rotonda River freshwater canal, residents can engage in fishing or explore the 23 miles of canals by kayak, small boat or canoe. This community also boasts FIVE GOLF COURSES with 99 holes, scenic walking and biking trails, a stunning 165 acre park, playground, tranquil lakes, lush gardens and a new community center! Nearby pristine GULF BEACHES like Englewood and Boca Grande are a short drive away. This region is also renowned for top-notch fishing with plenty of marinas, fishing piers and boating facilities nearby! For leisurely pursuits, historic downtown Punta Gorda or Dearborn Street in Englewood have quaint shops, charming eateries and farmer's markets to enjoy! The newly opened Sunseeker Resort is another destination worth exploring offering live entertainment, sparkling pools and numerous dining options! Close proximity to regional and local airports!  Offered at $1150,000.00

Im  new to investing in Columbus and noticing a lot of the homes were built in the early 1900s. My biggest concern is structural and foundation issues—should I be worried? Are foundation problems pretty common here, and what should I be looking out for when walking through these older properties? Any advice from people investing in the area would be appreciated!

I've been investing for 15 years and I've seen both sides of it. I agree with you 100% though that right now new construction is one of the few ways to consistently invest and be able to do it as a BRRR method so you can rinse and repeat and continue to grow without eating through your capital.

I was buying rehab to rent deals here in illinois for about 15 years (about a year or two after the 08 crash).  I was able to be all in at 70% or better on almost every one of my deals and had built up a portfolio of 83 sfh's worth between 160 to 200k before covid.  After covid hit i sold about half the houses and the rest are now worth between 160k to 300k. 

But since just before covid, the deals stopped.  Just completely dried up. I looked at new construction here but the numbers by me just didn't make sense.  A 3bed, 1,500 sq ft home was selling for about 260k to 280k but the build costs plus the lots (assuming I gc'd the thing myself) were running about 220k to 230k.    By the time you added financing/loan costs and realtor fees, the numbers just didn't make sense. 

However about 3 or so years ago I ran into eastern tennessee and tried a couple of builders that were building somewhat wholesale.  It was a bit of a struggle to manage but the numbers came out ok.  Two years ago, I was able to get my ex brother in law to move out there and now i can build for cost on my holds (some we build to hold and we hold separately and some we build to sell and we split the profits of the ones we sell).

But for the ones we build, I can be all in at 70% LTV or better and they'll cash flow as STRs (gatlinburg/sevierville are heavy str areas) right from the get go. So in some sense, its literally like printing money. Its still not easy. But I haven't been able to find anything else right now thats coming even remotely close to what I'm able to do right now.

I'm sure there are other areas and product types doing as well if not better.  But I can't find them. And i've tried a bunch - was flipping land nationally until a year ago when that model really dried up; and even did some mobile home rehabs in florida where I did ok but then desantis got stupid with immigration and literally ALL the contractors left the state - the ones there illegally had to move but they were living with other family members so all of them moved together and there was noone left to do any work down there. 

 @Dominic Petoral

I am an Active  Real Estate Broker and Multifamily Investor in the Houston Area who has worked with over 400 New Investors since 2020. 

I am currently building some duplexes in the Houston area. I can share some of my experiences and connections with you. 

I am also looking for a win-win collaboration if our expectations align.

I host monthly meetups and you can see the details here: https://www.biggerpockets.com/forums/521/topics/1235526-houston-real-estate-investors-home-builders-and-developer-networking-event

Send me a direct message, and we will go from there.

Goodluck

Here are the AI results I got for Atlanta:

Metro Atlanta Table: Estimated Land Transactions (50+ Acres, 45-Mile Radius)

| Zip Code | Transactions Last 3 Years | Price Per Acre (Average) |

| 30213 | 12 | $55,000.00 |

| 30253 | 11 | $60,000.00 |

| 30281 | 10 | $58,000.00 |

| 30263 | 9 | $35,000.00 |

| 30214 | 8 | $40,000.00 |

| 30135 | 8 | $45,000.00 |

| 30116 | 7 | $32,000.00 |

| 30215 | 7 | $42,000.00 |

| 30236 | 6 | $50,000.00 |

| 30228 | 6 | $48,000.00 |

| 30127 | 5 | $38,000.00 |

| 30180 | 5 | $30,000.00 |

Zip Codes and Locations:

30213 (South Fulton): A growth hotspot near I-85, popular for residential development.

30253, 30281 (McDonough, Stockbridge - Henry County): Major areas for spec home subdivisions, with high demand.

30263 (Newnan - Coweta County): Farther out (35-40 miles), more affordable land.

30214 (Fayetteville - Fayette County): Growing but slightly pricier due to established communities.

30135 (Douglasville - Douglas County): West of Atlanta, seeing steady large-tract sales.

30116 (Carrollton - Carroll County): Outer ring (40-45 miles), lower prices.

30215 (Fayette County): Similar to 30214, with moderate growth.

30236, 30228 (Jonesboro, Hampton - Clayton/Henry Counties): Southside growth areas.

30127 (Powder Springs - Cobb County): Northwest, moderate activity.

30180 (Villa Rica - Carroll County): Outer edge, affordable for large tracts.

That does seem a bit tight for construction costs as we have priced out typical residential a few times. Even with beating up labor, the materials are the materials and thats what seems to push the build costs up.  

As far as margins, it looks like its 180k to 200k plus 22k for the land so 200k to 220k project.  Figure 20k for financing and loan costs. 6k or so for realtor fees.  You're looking at 225k to 245k all in.  If it sells for 310k and you make 60k to 80k, I know I'd be happy with that all day long.

As for the other mention that other lenders could do it for less cash into the deal, it doesn't look that bad.  You're getting 140k which leaves you needing 60k to 80k out of pocket.  Hard to scale.  But once you do a couple, then maybe they will give you a better LTC (closer to 90%).  If they don't, there are other lenders that will and it may be worth paying the higher interest rate that they'll charge so you don't have to tie up that much capital.

But that really only matters if you want to scale.  If you're just going to build one or even two at a time, why not stick with that? That rate is really good. And closing costs aren't terrible. 

Interestingly enough, we're a builder in eastern tn (gatlinburg, sevierville).  Up til now we've only been building rental cabins.  But I have been running the numbers on owner occupied residential out there and those are remotely some of the numbers I'm seeing. 

We've got a 3/2, 1,300 sq ft model that we priced everything out for at about 170k to 180 for the build.  Figure 30k to 40k for the lot. And then an estimated sales price of about 320k to 340k.  Its not the same margins we're getting on the cabins.  But I think they're easier to build so they'll go up quicker and even if we can make 50k or more, then why not do 5 or 6 of those a year? 

And if the market for buyers were to dry up, we could always eat those as rentals.  We'd refinance and pull all our money out. On a 210k loan, we'd be paying around 1400/mo. taxes would be 100/mo or less (taxes are so ridiculously cheap in tenn its silly).  Insurance 150/mo. And theyd rent for about 2200.  I don't like long term rentals any more. But it would always be an option if something really bad happened. 

Hey all. I might have an opportunity for a good investor to make a solid margin on a property in central Miami, specifically Allapattah, soon. Has anyone invested there before? Would love some insider information.

Just curious but how much did you pay for this "gold" coaching and how much did you actually make on the deal?

To me, the land flipping game is absolutely dead right now. Just too much saturation. When I got into it four or five years ago there were about 3 training programs.  Now there are 10 or 20 times that if not more.  

I think the people doing training have hit the wall too and they're struggling to do land deals like before so they're all trying to make money off training instead.  

I've put my land investing on hold here for the last year or so.  I'm lucky I fell into new construction a couple of years ago because I'm just not seeing the opportunities in investing right now that there were 15, 10 and even 5 years ago.

But I definitely wouldn't tell anyone to go into land flipping right now.  Two years ago, I was telling everyone it was the best thing out there.  Gotta keep looking for the next niche where the numbers work. 

Hi All,

I am a newbie on Condo Hotel investments. I have come across investing in a resort that is being built from the ground up. Can anyone advise what sort of important details I should be looking into so I don't get caught up with regretting the purchase? I know I should be looking at HOA and all property management fees, Location, buy laws, sales contract. But, this is not a standing property as of yet and it is supposed to have many amenities. It is supposed to be a 5 star hotel. What sought of details should I look into in this type of prospective investment? Thank you kindly.