All Forum Posts by: Kyle Ransom

@Josue Velney  I agree 43% down to a bit much and sounds fishy. I only offer to buy the materials and have them delivered to the site. I only pay for the work once it is completed and passed inspection. 

@Melonie Dickson If your agent is wanting to waive the inspection contingency that is agent does not have your best interest in mind. I would consider finding another one.  Getting a proper property inspection should be a required step in all of your real estate transactions.  

Property inspections can uncover any major issues a property have including foundation issues or water damage both of which can be costly to repair. 

I would suggest NEVER doing a deal with a property inspection and only work with people who have your best interest in mind

@Gino Barbaro I did one family offices. The first one. I would love some feedback I can email it to you if you like

Yeah, we have the same problem here in Atlanta GA across all types of assets. A lot of hedge funds are coming in offering all cash with no DD 7 day close. We can't compete with that so we went off-market. But your friend maybe try FSBO

Probably best to consult with your attorney. If you don't have one please get one and make you a part of your team. 

One biggie is finding buyers. By that, I mean real buyers. The market is very saturated with people claiming to be the buyer but is really no the buyer but a middleman in a long list of other middlemen.  So it would be wise to really qualify your buyers first then go find the deals for them. 

On another point, some people will say to go out and find deals then go find buyers.  This is probably not the best way to go because you can get a deal under contract and not be able to move it because you don't have any buyers. So you opt to post it on Craiglist and you will attract a bunch of people who say that they are "buyers but you have no way of knowing if they can close. This can leave you to exposed and if you get a "buyer" who doesn't close you damage your brand with the seller. Way too much risk. 

I suggest establishing a solid list of buyers you have a relationship with then go find deals for them.

@Calus Glispie Got yo tell you are pretty bold to offer $1 earnest money in this market. While yes can get a property under contract with $1 it really is a seller's market and so most people will expect at least $1K earnest. In my market in Atlanta, GA lot of times to get deal that's on market seller's expected $2K-$5K before even considering an offer. 

So the amount of earnest money you offer really does depend on the market. 

@Junious Williams thanks so much. That's enough to get me started

@RyanHopkins Hi Ryan thanks for your feedback. So this is vacant raw land, has trees, zoned RM for residential multi-family. I could do apartment townhomes or condos. No flood pains. I would what to clear enough land to build maybe 2 acres. I just got this from a bank so I am just doing the light analysis. I am just looking to get some general costs to see if I even have a deal here.

Hello all, can anyone tell me at how much it would cost to clear, entitle and prep 2.34 acres of land, and at what cost/SF to build a 16-20 unit apartment building in GA? Thanks in advance for your feedback?