Formal Introduction & Question for the BP members

[RJ Bohigian]

Happy Thanksgiving to the BP Community Members!

I wanted to briefly introduce myself, make an invitation for connections, and ask a question of the members?

My Name is Robert Bohigian, wife is Denise Bohigian ( She created this profile for me, and is often the one for contact on here, as I am running our businesses)

We are Happily Married for over 27 Years, and Business and Sales folks! This means, aside from an extensive Business acumen spanning 27 years of owning and operating businesses in diverse fields (Nightclubs, Restaurants, Contracting & Repairs, Antiques Stores...), We are "People" People! No one can succeed in Sales if They are not people-oriented. We have been called: " Sales Assassins", Top-Closers with a network of past clients relationships over many, many years!

We are excited at the prospect of meeting others who have interests in Real Estate!

We Own and Operate 3 Businesses here in WV ( D-Build Deconstruction, YardSmart, The Recovery Company). We are in process of starting a fourth, devoted solely to Real Estate Investing, Developing, Flipping, and Wholesaling.

You can read my profile or message me, add me to your network, come out and visit West Virginia, and see why we are staying in this Rural Place, when both of us are City-Slickers ( NY, NJ, RI, DC, Fl). There are still deals here and development is moving rapidly forward! We expect high profits here, but are also looking nationwide.



We have a question for community members...

We are wanting to do Our First Community/Property/Land Development. We have eyed-out some prospects and are wanting to have Riverfront or Lakefront Properties offered.
We have a 95 Acres Property with 2100' Of Prime Lake / River Frontage.  Asking is $800,000.00
We figure that 100' of River Access Per Lot @ 20 Units @ $60K FMV Per Lot is a good rough figure/estimate. (Undeveloped)...
We are wanting to add homes, custom-built higher-end homes (Mid $200's- $350K) and Gate The Community.
There are a lot of variables, but basically that would develop the most prime Real Estate in this deal. It would not net near enough Value or money for the scope of the project. $1.2 Mil - $800K Purchase Less costs in subdivision, Surveys, deeds... Might Net Total If Lots sold only- $200K... If developed and sold, The numbers get better $4Mil - $7 Mil Gross Sales, Less Construction Costs, Ought to Net $2Mil but would take up to 5 years.

Assuming those River Front Lots would only be 2 acres, or slightly smaller lot, There would be another 75 acres to develop, and much of it would be River-view. Some, there would be some money there..

Having never been involved in a Development, any special considerations, that we might wish to factor into a plan?
We have the basics down, and a good business background for some numbers.
It seems like a better Option would be: to Develop Only 18, Or so, of the Lots, as Prime Riverfront Homes, and Build a Docking Facility, and Community Center that leases out member boat dock space, hall rental, etc. (amenities for the Development Community)

If you have experience developing land, Would you do something of the Later Option? ..allowing for a perpetual source of revenue from the property?

Any pointers, experience, caveats.... would be appreciated.
Nice to Meet you.. All!
See you in a deal!