All Forum Posts by: George Yu

@Ola Dantis thanks for sharing! I wasnt always into partnering but now this really has changed my perspective. Opportunities are where most people arent looking! I just try to do the opposite of the crowd. Doesn't really matter what it is. 

@Robert Carlson thats great! thanks for sharing that with me. It motivates me to share more with people! Keep in touch

@Jack Yen nice to meet you. I think thats where most people are at unfortunately. I see a corelation when theres tons of online courses gurus that pop up teaching get rich quick on Amazon or fix and flips and then over the next couple years it gets saturated and harder to find great deals for Amazon sellers or flippers. But thats the nature of capitalism. How do we push forward and do what others cant/wont do? 

https://drive.google.com/file/d/1hWD4GdIshRkpniOzyOb6HqboRUe11hgw/view?usp=sharing

here is a time lapse that we took if anyone wants to see.

@Frank Geiger 

Thank you sir. Yes we had to rezone from residential to Multifamily and as for a couple variances for density and parking space. Also to master meter the water. 

@Julianna Sauber 

1) 14 months 

2) i answered that in another post

4) hardest was talking to the land owners and getting the city officials on board with our ideas! Government is slow as a snail and they dont have big imaginations :) 

5) started with construction loan and now refi into a 30 year with local bank

6) short term was also local bank 

7) Yes the three partners we each put in about $100k each

8) Great question! Better timelapse video, Be more assertive with the city officials, documented it better with photo and video(i lived 5 hours away from development), built more since they are all filled up now! 

@Edgar Martinez love to hear that and do it! thats a powerful combo. read your post and yes go where you are treated best. NY is tenant favored. Atlanta is saturated as well though. Live in atlanta but work anywhere and hour in any direction outside of ATL for better deals

@Sean H. around $75,000 which caught us off guard. we still came out fine but could have been 75k better! So when you build two stories this particular ULDC required that we install a sprinkler system and these below

1) site engineering with EPA gets involved with projects over an acre -$13000

2) soil and water engineering runoff drawings only cost- $15,000

3) two story added bunch of sqft bc of walkway and rails added $100,000 that doesn't generate revenue. so about $3000/unit extra we had to to. not doing two stories again. 

4) retention pond required $20,000

5) needed a $10000 engineering stamp 

@Noah Mccurley haha it sounds a little crazy when you put it like that but yeah it started as that simple thought! 

https://drive.google.com/file/d/1hWD4GdIshRkpniOzyOb6HqboRUe11hgw/view?usp=sharing 

here is a time lapse that we took if anyone wants to see.