All Forum Posts by: Robert Ellis

I have funded two deals for Lennar pre development..  One in Oregon last week

140 townhouses and 300 apartments their apartment division builds out the apartments but same piece of dirt. this was 1.2 mil.. 

And one in WA DC 300 plus lots with combination of townhouse and SFR product.
little less investment than Oregon one..

The Oregon NW regional director is a Colleague of mine who I have known for years.. the WA DC I dont know and my client is dealing with that office.

I am all about controlling land in path of progress and entitlements for the right companies but also keep in mind this is generally unsecured money so high risk with VERY HIGH costs.. And just because Lennar or Horton or anyone else drops a nice 200 to 500k non refundable EM does not mean they will close.. they will walk in a heartbeat if the market shifts.. I knew some guys doing lot development for these big companies that lost it all in the GFC when these companies failed to close and left them holding the bag. 

Its funny you bring this up I wrote my OR contact just yesterday asking him how I can get intro in other markets to help with these pre development funds we like to do ( VERY SELECTIVELY of course) and he said they really don't communicate outside of their territories.

Why they have not gone into Ohio I am not sure.. Could be that Intel is melting down and might not be the big driver we all thought it was going to be.  But i am sure there are other companies coming to that area. 

Hello, I'm wanting to get into real estate development on the single family side. I am currently a Realtor, but my long term goal is to be more on the investment side. I currently own a long term rental, and I'm doing a live and flip currently. 

I'm looking to get some advice on how to start off getting into land development? I just want to start with one single family home, but I can't see a route where I can do this without partnering alongside someone with experience to help with finding an architect, zoning, contractors, utilities, etc. Does anyone know where I can start? If there are any experienced developers in here, I'd be more than happy to pay you for your time to talk through some initial questions that I have. 

I'm Goddess new to land investing, but full of curiosity, drive, and purpose. I’ve recently stepped into the world of real estate with a specific interest in land acquisition and wholesaling, especially exploring purchase options for land deals.

As I grow my business, I’m looking to:

Learn the ins and outs of wholesaling land

Understand creative strategies like seller financing and purchase options

Connect with other land investors, buyers, and wholesalers

Build solid relationships with cash buyers interested in land

I’m based in Georgia but open to learning about other hot markets and best practices. If you’re working in the land space—or just love sharing gems—I’d love to connect. Feel free to drop advice, resources, or even just say hi. Let’s grow together!

It looks like Florida real state in going down, some people say it's gonna crash and the bubble just popped, any advice? Type c properties the best for the recession? What cities in Florida are gonna be the best for investment rigth? And what type of properties?

Quote from @Stephen Morales:

@Daniel Jodrey

As some others have said, house hacking is the way to get started here. Would be curious to hear an update on how your search is going so far. 

I would allocate some capital into lead generation while also working with a local realtor that is investor friendly in your markets. Try pulling some off-market homes with distress indicators or higher equity (70% or more). There are some sites where you can pull list for free here on BP :). 

But even though you are feeling the FOMO from not investing during the c19 era, just know that there really is no silver bullet to fire when it comes to investing in real estate.
Especially for the strategy you're wanting to implement.

Hey Stephen!

Appreciate your time and thoughts and I agree with you. Goal is to house hack a multi family (preferably a triplex or fourplex).

so far still in same position. We are looking everyday. Have few realtors set us up on MlS for both Washington side and Oregon side. Numbers don’t work with interest rates in nearly every deal. I’m looking for break even deals in year 1 that have upside to grow in future years. I ask every selling agent I reach out to about seller financing and so far every one is a no. 

Quote from @Kwanza P.:

Anyone have experience or advice for buying land ? Especially land where you’re most likely to be on a septic system (on purpose because you love nature and that’s just how it is). 

Any tips, resources, links, on buying land ? Then building a house on that land? 

Kwanza 

 If you are buying land for septic, you will want to do proper due diligence to make sure you have water available and also the property can support a septic system and a size that matches the size of the home. Even if it can, depending on soil conditions it could be a traditional system or an alternative system which can cost 5x more. Always ask the seller if they have done any perc test on the property.

Quote from @Sachin Amin:

Hello BP community - any one lately come across new construction properties for investors in Columbus OH, most of these builders in Columbus refrain from selling it to investors and only entertain first time home buyers or if you plan to make it as primary home to live in. (Rockford, MI, Pulte, Ryan homes) - any one know of builders who are investor friendly in Columbus?

sachin

home builders dont want to ruin their communities by allowing a bunch of investors and rentals. Smart move on their part for sure.. have to find a builder whose building rental sub on purpose.. they dont care.. Check Rent to Retirement they have a lot of new builds that market with special financing etc.. Not sure if they are in Columbus or not though.

Hello BP community - any one lately come across new construction properties for investors in Columbus OH, most of these builders in Columbus refrain from selling it to investors and only entertain first time home buyers or if you plan to make it as primary home to live in. (Rockford, MI, Pulte, Ryan homes) - any one know of builders who are investor friendly in Columbus?

sachin

I've done this. We used a preferred return of 8% plus the equity split. This structure helps to incentivize investors for the capital raising process. Still made strong returns as the GP. Could you share more about what you're up to? Are you raising money for a singular project, or do you have some set of investment parameters for projects for which you're raising money? BTW, I'm planning to move to Columbus and looking for people to connect/work with. Have some liquid cash to invest. 

What's in Springfield OH? I keep getting offers/investment opportunities from a realtor I know in the area.

Is the juice worth the squeeze there?

I currently own rentals in Columbus, OH