Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 4 years ago on . Most recent reply

User Stats

3,280
Posts
3,064
Votes
Michaela G.
  • Investor
  • Atlanta, GA
3,064
Votes |
3,280
Posts

Property in middle of future development

Michaela G.
  • Investor
  • Atlanta, GA
Posted

So, 12 years ago I bought these 2 vacant lots . There had been whisperings of future developments for years, that hadn't come together. 

NOW, they're planning a 320 acre mixed-use development that's been announced and I have these 2 lots smack dab in the middle of everything. The city it's in owns most of the parcels and have been buying off others the past few years. I once offered them to buy mine for 100k and they laughed at me. 

Well, They're breaking ground this fall and are expected to create +1,000,000 sqf of space, retail, hotel, office, residential. 

What's the best way to go about maximizing my sales price. I'm no longer willing to sell for 100K now, as they took their time. 

@Jay Hinrichs , I believe you've dealt with property close to development. What advice can you give me? I know there'll be a time soon when they'll want (need) to buy those lots.  How do I set myself up ahead of time, so that I'm in a good spot when it happens?

Most Popular Reply

User Stats

3,280
Posts
3,064
Votes
Michaela G.
  • Investor
  • Atlanta, GA
3,064
Votes |
3,280
Posts
Michaela G.
  • Investor
  • Atlanta, GA
Replied

Still the same. They've bought a lot more in the past 2 years, even paid 350k for one piece. Huh! I'm staying on top of the sales. Covid came and I know the city is cash strapped, due to the Airport having slowed down. But they have contracts on some of the pieces from developers and they're working on the infrastructure. So, it'll happen. I can wait. 

Loading replies...