All Forum Posts by: Arthur Neves

Very nice conversation here. I, also, find 2 other partners 1 year ago and we are finishing a remodel of 40 units. We will refi it after we got mostly rent it, and cash out a good money there

Next step would be to get into development, but is just such a big leap For all of us 3.

We have a good amount of capital, and good financial connections, but would still be very unsure on where to get started? Do I go ahead purchasing land right now, how can I change the zoning on it? Is it possible? Do I connect with the county first?

Land prices are super high, all prices are high right now. However I don’t want to wait till a dip, that never happens.

Anyways, I think I need to understand about zoning better and lock land and re zone it. After that, do I find a builder? Do they quote on $sqft? Is that really true, or will it go out of the window after 1 year into the project?

Marketing, management, and all after the units are ready we have lots of experience with. And financing it too. And we have the cash to ignite the process and know a lot about remodeling. I think we are just missing that gap.

Any resources, help, much appreciated.

Good history btw.

Hey Memphis community. We have finished a 40 units renovation in our complex. It took us 2 years to gut it and re-do everything. Even most studs/structure are new. Now, construction is done.  And the game really starts. We need to fill those units.

We already have 4 tenants, even though we haven't invested in marketing yet. We are working with a PM(CrestCore), and their advice is to have those LEASING NOW banners in front of the building. 

My question: is that going to be enough to fill 36 units, in a short amount of time? What are people using to rent their units in Memphis?

If you are curious here is the link to the property: https://elevatemyliving.com

@Shira Albert maybe I am biased, but a few partners and I like the area. We finished a 40

Units building that we purchased for $10K/unit. We spent a lot of money and time, so it was a hard project. But you can’t find those opportunities in FL where we live.

I don’t have full numbers yet, as we are starting to move tenants in, but we should get 100% money out after refi at less than 60% ltv, which will bring a good cash flow from my estimates.

Glad to share numbers in the future.

Also we don’t find those MF anymore in the areas we wanted there. But still know a few.

So my take is that you will purchase low and eventually the city will come around.

@Sam Askar those are for today, but they are using metal studs.

This is in Kissimmee, the Disney area.

@Sam Askar a friend of mine work managing the builder for a big vacation complex. I think they are building 300to400 townhouse. All about 3000sqft.

Last time I spoke with him they were paying about $77/sqft. But they got a good deal as of the number and size of units. And they are using metal instead of lumber.

Interested in the subject too

@Omar Bortolato I’ve done tax deed before with a partner. And want to do more. Easy to reason about that model.

I wonder what’s the risk of the tax lien?

Which margin are you looking when you buy those certificate? What is your target?

Thanks

@Eric James

What’s your criteria? And plan?

Properties are out there, just will fit investors or not depending on what they are looking for

@Mario Faris what are B areas here in Orlando?

Pine castle would be C+?

@Nick Harvey very interesting. I am searching for lots in Poinciana right now. will PM you.