All Forum Posts by: Pyrrha Rivers

I strongly second the thanks congratulations from @Damir Kamber what an inspirational and empowering podcast you've given us! @Matt Wood and @Mike O'Connor!

You spoke so directly to me in all you said here. I am invigorated and excited to continue to pursue my plan even though it is a bit "crazy". I'm thinking crazy is good!

I am seeking to initiate a group for investors abroad focusing in the Atlanta market.

I would love an opportunity to attend one of your meetups if you have one scheduled for this summer when I'll be in town.

Thanks again for the podcast.

If you are in the Yokosuka area and want to join friendly, relaxed conversation about real estate, come to our meetup on Thursday. Or focus is primarily to support each other and try to solidify strategies to overcome the common barrier we share. "Investing from abroad". Some of us have done it, some of us are thinking of doing it, some are curious about how it can be done, but all are interested in making it happen.

If you are in Yokosuka or Japan and don't have access to our venue, please don't let that stop you. We can bring the meetup off base for you. Just contact me and we can find a venue convenient for all.

We even on occasion go to Yokohama to have a middle of the way meetup with Tokyo people. 

Hope to see you there on Thursday or hear from you for a change of venue. 

@Jessica Hood Exactly my point and in no way a slight to the wonderful men that dedicate their lives and efforts in this field, but at times, women, myself included, fail to realize that if others can do something, they can as well. So to see your very well done work and all the details you share is quite inspiring and indeed empowering. Thanks again!

@Jessica Hood I absolutely love whay you have done and the generosity with which you've shared your experiences so candidly. That's what I love to call Girl Power!

@Account Closed Thank you for the very interesting and rich post. I thoroughly enjoyed it and will be following as many as your points as i can manage in a two-month period of time when I'm local in my area.

@Ola Dantis Thank you so much for your reply. The lot is located in a thriving residential area and I would would love to build something in keeping with the existing homes to preserve or enhance the community without changing its vibe. The employment and general demographics are very positive. Because it is so close to the airport and downtown it is a highly sought after area. I'm hoping my eye was as good as I think to spot this. :)

Thank you

Thank you so much Roy!

Hello @Marvin McTaw Who did you end up using for your rehab? Were you satisfied and would recommend? Feel free to PM if you rather not post here.

Thanks

Best wishes,

Hello @Faisal Z. Did you find a good contractor to work with? Would you recommend or caution about your experience?

Best wishes.

Hello,

Apologies for the long post below.

I just came across what I think is a great opportunity but have no idea of how to proceed. I'm a buy and hold investor and rather new at that, so this is completely out of my league but I believe it to be a great opportunity for growth.

I found a vacant lot in a very nice area of Metro Atlanta. It is next to 8 very nice townhomes and across from a small gated community of townhomes. The area is very conveniently located. It's near the Atlanta airport but tucked away in a quiet pocket very close to the Jefferson Park Community which those familiar with Atlanta know is very hot right now. 

I called the Realtor listed on the sign and this is what I learned. The developer who built the 8 townhomes purchased this particular lot as well, but in the crash was not able to develop the entire area and stopped at 8, having to give the remaining parcel back to the bank. The town-homes sold during the 2010 / 2011 time frame at sales prices between $150,000 and $170,000. These are Two-Story Brick and Frame with Basement, so they look 3-story high with garage in the rear. According to the Realtor, there are people who attend the HOA meetings to see if anyone is interested in selling, so he is encouraged that there would be demand should additional homes were built.

I see potential to build at least 10 additional townhomes for which the lot is zoned. It is a 0.603 acre rectangular lot at least twice as wide as the are holding the 8 townhomes, has a retention pond in the back but the Realtor explained that in the REO process the engineering information is missing.

In all honesty, most of what he said was Greek to me but here is what I would love to do:

I would like to reach out to an experienced builder/developer to partner with. However, I would like your advise on how to protect myself and insure I am included in the deal once I share the information. The red rectangle is the subject property, the 3-story town houses are to the left and at the bottom of the image you see the last section of the gated community of town homes. The two parcels on the right have single family homes on them. The house on the corner, 1463 is boarded up and quite out of place in the area. Realtor suggested trying to acquire both those lots and extend the project to the corner and perhaps even make it a small gated community.

I could purchase the lot myself for under $100K, but then I have no idea what to do with it. 

Silly, I know! 

But this is why I'm asking the BP Pro community.

What would you do?

Thank you!

Pyrrha