All Forum Posts by: Account Closed

Hello fellow BPers and more specifically Atlanta Market Developers.

Lately I've been getting contacted by property owners wanting to sell raw land. I've been having some trouble analyzing the properties and was wondering if you could help fill in some blanks.

What's the average cost per sq. ft.to build in a B- to A level neighborhood in the Stone Mountain area of Atlanta?

Its an established neighborhood where Most of the homes in the Neighborhood were built late 70s early 80s; 3-4 side brick; @ 3k sq.ft.

Comps are steady at $155k - $169k.   

What demo cost is usually involved when clearing land with trees? Land with partial structure?

Are there any things in particular (outside of the usual CMA) that I should be looking out for when analyzing these properties?

Thanks in advance for your input! 

Also if there are any of you that are interested in raw land, feel free to connect.

Best,

Will G

 @Zach Mitchell I agree, and initially suggested they do the rehab themselves, once I realized the numbers didn't work if I were to acquire the property. I would however have some skin in the game. There are back taxes owed on the property as well as origination points for the HML, that I would pay.

Hello Fellow BPers, 

I'm considering doing a JV Flip deal with a property owner. I've been advised that it is possible, and they would simply add me to the Title via quit claim deed. I also plan to form an LLC between myself and the homeowner(s). There will be no acquisition cost for the property as they own it free and clear, but I plan to secure an HML to complete the rehab. I will have total control/responsibility of the actual rehab, as they are not investors. We will split the profits (haven't negotiated exact percentage as of yet).

I welcome any input from those of you who have  successfully and/or unsuccessfully completed these type projects.  What were some obstacles? How did you structure the split?  Any suggestions on specifics that I should be sure to address in the negotiation and subsequent contract? 

Also, any asset based HML's funding this type project in Atlanta, feel free to connect.

Thanks in advance for your input and advice...

Happy Investing!! 

@Jay Hinrichs thanks for the heads up. That was my dilemma. As I currently use a barrel grill and a smoker. Usually when the grill gets lit, friends and family randomly show up! So yes, I'll definitely need the space! 

@Jay Hinrichs it's settled then! It'll be  My gift to myself on my next closed deal! ;) 

Enjoy the rest of your Holiday to all... It's been a pleasure!

On the contrary @Jay Hinrichs I think it's a great point and something that I personally will be looking into. 

My point was the motive... For me, getting licensed just to make others (that just don't get it) happy, isn't a priority! 

P.S. I'm currently grilling as well... I've had my eye on that Green Egg! It's in my near future! :)

@Andrew Syrios agree 100%

@John Thedford I agree on both ends. I appreciate the input from @Jay Hinrichs. I'm always open to different views and ways of doing things. I jump at any opportunity to engage in healthy conversation! Just because we have different opinions on a subject doesn't mean there's any disrespect! 

I appreciate everyone who's added constructive insight to this discussion!