All Forum Posts by: Ivan A.

450,000 is the target resale price of the new construction townhomes for some of the acres planned. Sold comps nearby that sold in this range are available.

Other acres are planned for mixed use.

The total ask is for 14M to be a partner in the deal, although you can commit less than that to be apart of the overall investment on a per-property-basis.
Rough details without NDA available here.

I posted this as an SFR because BiggerPockets limits geographical-based posts to SFRs. The full details post seems to have gone to a general category with no geographical filter. We prefer investors in the State of Georgia so we could meet regularly.

New Construction Comps
#1 https://www.zillow.com/homes/for_sale/mmm_pt/14463... (0.8 miles)

#2 https://www.zillow.com/homes/for_sale/mmm_pt/20959... (0.7 miles)

Questions/offers [email protected]

Ivan
678-982-8854

This Medlock Park property is 1 mile away from Emory University. The property is in overall good condition. The only thing that should jumo out at you in the pictures is the poor-looking A/C unit, it just needs a hug.

Wholesalers: feel free to tack your fee onto the price but please only bring serious buyers.

Pictures:
https://www.dropbox.com/sh/ucl3rvzz3u0aszp/AABgsWqOOXUkSHj5jTkMpGq6a?dl=0

Add 700 square feet to match the comps listed below:

2242 Desmond Dr (1,800sq ft @ $461,500 @ 4/7/17)
700 Sunnybrook (2,309sq ft @ $565,000 @ 7/1/17)
2245 Vistamont Dr (1,700sq ft @ $505,000 @ 7/1/17)

Let's say you resell at 470K.
470k
-100k (700 at roughly ~140 per square foot)
-250k purchase

=$120,000 Potential Spread

Email questions/offer to [email protected]

Ivan
678-982-8854

I have come across access to dozens of acres with full development plans & relationships for the next biggest area of Atlanta. This post will be a bit vague due to the fact that releasing this information to the public would cause ruckus so you would need to sign an NDA to get the full picture. 

What I can say is that I have walked some of the acreage and they have amenities that other major cities do not have. Therefore it should become another tourist & overall hotspot area of Atlanta.

DETAILS:

The total ask is for $15M to purchase the remaining land & partner with the existing investment firm that already own hundreds of acres in the surrounding area from the past 2 decades. The construction has already started on some of the commercial buildings but further capital is needed for 2 things:
1. Resume the commercial-side
2. Start production on the residential-side that are targeted to resell for 450K+ each (sold townhouse comps report available).

BUYOUT?

This is only open to partners that want to help build the community, therefore no majority buyouts are possible because the likelihood of a majority partner trying to shift the focus purely for money is high.

TARGETS

Return aim is 8% with profit split down the middle. You can also invest in some of the properties versus the full picture. So it does not necessarily need to be the full $15 million, but minimum investment should be $50,000.

These targets are not guarantees, as with any investment, there is always risk. We will only provide the facts and it is up to you to decide. If you want to look at past performance for a similar neighborhood, 1 of my properties has increased 5X value in 5 years.

NEXT STEPS

After you email your details below. I will only:
1. Gauge your interest over the phone
2. Verify that your firm can follow through & sign NDA (no offense, just want to make sure you're serious so we are not scheduling tire-kickers with my contact)
3. If you're comfortable with all your upfront questions answered, schedule a time to meet in-person to review the full development plan, and you can decide if your firm would like to proceed. My contact does not want to waste your or their firm's time.

If you're interested, please send background and contact information for your company to [email protected] - my phone number is 678-982-8854. 

After a phone call to discuss, we can provide more details and setup a meeting at the firm's office.

My house in the Old Fourth Ward increased in value 5X over in the last 5 years. I have determined that I should not sell either due to the high cash flow from roommate.

I may even just keep it forever because my future family can use this cash cow in the coming generations in which our country's economical industries will shift massively.

@Jack Clough I don't know about your city but once we have it down and simplified here I want to bring it into other States and countries too.

I saw a video today on how a city in Ohio has started building mini house subdivisions so that could be a part of the solution since they cost so little to put up. I believe an ordnance passed in Atlanta recently that makes that more feasible in the city.

And now increased property to $189k now on MLS. Just got back certified appraisal median being $305k with $76k top of the line repairs. Stick to just the main floor upgrades for about $40-50k instead of finishing basement and should still be able to get good profit.

If you'd like copy of appraisal, email [email protected]

I am looking for partners to help attack the affordable housing crisis in Atlanta. 

Over Memorial Day weekend I spent time thinking about how to effect the world in a tangible way, instead of just living an unfulfilling life looking for the next flip or laying around like a little cow waiting for rent checks.

Sure, as house flippers, we help people out of dire situations all the time. But what if we did it at MASSIVE scale? What if we had a direct effect on getting entire communities out of poverty?

To do it, I have a very simple plan in mind thus far:

1. Purchase properties as low as possible as we currently do to reduce capital risk
2. First half of the properties purchased should not have yearly rental increases past 3%
   
   • There are grants and loans that can also help spread our liquid
   • Property management not your thing? I will cover each property for $50 per month as I am partnered with a local brokerage...This may sound ridiculous, but I am not interested in money, I am interested in fulfillment.
3. The other half, we can align with the market every year
4. At just 100 homes charging $500 average, we can make $50,000 per month
   • If we increase rent on half of the units by 50% within 5 years which gentrification has historically done AND is doing much faster, that can be $62,500 per month

At an average purchase of $30,000-50,000 which I get leads for all the time. It is a very realistic possibility we surpass 10% returns per year. Eventually higher.

And what's more exciting? Once we attack the problem here at scale here in Atlanta, we can apply it to other cities in America with the same dire need.

If you are interested. Give me a call and let's get to know each other over lunch.

Thank you,
Ivan
678-982-8854

Decreased to 163k to add even more profits to your pocket.

I also listed out 4 exit strategies in this doc:
https://www.dropbox.com/s/f1wech4qb8noztu/4968-millen-dr-mableton-ga-30126.pdf?dl=0

Thanks @Chase Beasley