All Forum Posts by: Alex Chiapetta

BP Developers,
My family has purchased 20 acres of land 15 min north of Altus AFB (Blair, OK). We built a beautiful home on part of the land and now we are considering sub dividing the remaining land into plots to selling or developing with a partner. I am new to development and looking for some tips on where to start or looking for a developer who is looking to partner on a deal. If anyone has any tips, contacts, or guidance, I would love any help I can get. 

 Tyler, 
Did you ever learn anything more about subdividing lots in Austin? I am looking at a property now and trying to learn as much as I can!

Thanks,

Alex

From my understanding, anything outside of Savannah proper is fair game. I would do some more analysis to figure out what area you want to setup in, a trip down here would do a lot of good. I have not ventured into Garden City much but from the bit I have seen, its still an up and coming area. Here is a link to the cities STR rules as well:

https://www.savannahga.gov/1476/Short-Term-Vacation-Rentals

As far as STR Zoning: If the property is not in the STR area you technically can not have a STR. That being said, there are STRs all over Savannah. The city has started cracking down, I personally got fined for having one outside the approved area. If you are going to gamble on the STR play, I would be sure the property will cash flow as a long term or you are willing to deal with the vacancies of a mid term. Hope this helps!

Hey Brian,

I work down in Hinesville at Fort Stewart but commute from Savannah. Most of the tenants you will find in Hinesville will be military. Most people coming to Hinesville for work will likely stay in a hotel if they are using the Defense Travel System to book their travel. Moral of the story is I haven't seen much on the STR side of the market down there, your best bet is to make sure the numbers work as a LTR. Also Keep in mind the BHA rate for Hinesville, that drives a lot of renters decisions. I'm happy to talk to you about this in more depth.

-Alex

Hey RaShandra, welcome to the community! I am an active investor in Savannah doing BRRR and Flips while being Active Duty Air Force. There are a few great groups in Savannah that host events I go to. Check out these three:

https://www.facebook.com/groups/savannahreigroup/

https://www.facebook.com/groups/savannahreigroup/

https://www.facebook.com/groups/cashflowsavannahmeetupga/

Hope this helps!

-Alex

I use Perla Vasquez, she has been great! 912-272-0777

Hi Jason,

I found your post by searching for Lean because I was considering writing a post about how Lean Six Sigma principles can be applied in Real Estate. I spent a few years being a LSS consultant and was able to complete my Green Belt and do Black belt training. If you are still interested in this topic I am happy to chat or recommend some great books!

Hi there,

My name is Alex Chiapetta and I am an investor new to the Savannah, GA area. I have an off market deal that has fallen into my lap that I am looking for funding on. The rough numbers are as follows

Purchase: $125,000

Rehab: $50,000

ARV: $240,000

I am currently active duty military, prior to joining the Air Force I managed Fix and Flips for a company in CO completing over 25 flips with an average turn time of 97 days and a average Cash on Cash of over 14%. Thanks for the help, I'm looking forward to building a partnership with a lender soon!

Thanks,

Alex

@Rhoda-Marie Custodio I have seen people start by renting a place in a good area, furnishing it using CL/FB Market place, and then running it as an Airbnb. This cuts down your start up cost and creates cash flow to put into future properties. Make sure to check the lease agreement that they will let you do this. Often your best bet is to find a place where you can talk to the owner directly about your plan.