Atlanta, GA · Member since 2017 · 12 posts · 1 vote
I had a friend that just purchased in Bankhead Atlanta, which is a rough area, but eventually will turn (not soon though) He said the guy who sold him the house rolled up in a Maserati, with face tats and all. The guy said, I was down in city hall, heard some initiative was coming to Bankhead, and bought up all the houses on this street. He made a killing.
So the question is, where do you go to find out this info? I imagine the internet is limited. What part of city hall do you go to? Also, where else do you go to get this insider info? Thanks!
Andrew Kim I'll be the first to say that an investing strategy based on "a guy told me" or "I overheard" or "I got some insider info" is foolhardy. Especially if you're basing the truth of it on a leased Maserati. Did you confirm this through sales records, checked to see if this seller does own all of the homes of the street, or are we now into unverified rumors.
That said, large scale redevelopment projects aren't super secret. They have to go through committees, public comment periods, city council meetings, etc. For what it's worth, I worked in city government for 4 years and presided over federal pass-through funds for urban development. Zero percent of it was secret, we were out there marketing to people to take advantage of the program.
Oh right, yeah I wasn't referencing the deal he got, it just seemed like he knew where to go to get the info. I just know, when you know about stuff, you beat the crowd who's all late to the party and picking up the scraps. That's all. Thanks.