All Forum Posts by: Livia Adams

The Land also has 7 Rv hook ups of which 6 are currently rented at $800/month/spot generating $4,800 in supplemental income and can be kept during parts of the development.

An additional $2,880 are generated by vehicle storage.

Feel free to reach out for proper marketing material. Looking forward to hearing from you!

0 Votes

Gulf Shores, Alabama

Hello Everyone,

We are currently working a deal in Gulf Shores that is a little tricky. It's around 4 acres of land that could be developed into a cul de sac with ~10 SF homes.

However the lot currently hosts a 5k sqft commercial/industrial structure (made out of metal).

Is anyone familiar with the cost of getting such land buildable?

How much should we allocate to demo such a structure and prepare it for development so that it's attractive to developers?

Thank you for your help!

0 Votes

Gulf Shores, Alabama

Oh got it, thanks for the explanation.

I am not an accountant or attorney but from a law point of view I believe that as long as the equity is bound in the property it is not realized capital gains so it won’t be taxed.

You could structure it as a deferred payment due at some point in the future making it taxable at that point. I would advice though to have the backing of an attorney on this for liability reasons.

0 Votes

Dallas, Texas

Hello Everyone,

After a short while we returned to AL to find great off market properties. We are looking for investors who are currently active in Mobile and Baldwin County.

Looking forward to hearing from you!

0 Votes

Mobile, Alabama

Hey, could you elaborate what you mean by "leaving money out of the deal's proceeds in the deal"? Can you give me the exact situation? Thanks!

0 Votes

Dallas, Texas

Hey Everyone,

Are you guys utilizing the BiggerPockets Community Listings to sell your properties?

What do you think about this feature? Did you have success?

Thanks!

0 Votes

Quote from @Daniel Rivera:

Given your situation, there are several factors to consider when diagnosing and addressing the vacancy issue:

1. Market Analysis

Market Shifts: Have you conducted a recent market analysis? Even if newer buildings can't price rents as low as yours, they might offer amenities or modern designs that attract potential tenants.

Local Economic Factors: Consider local employment rates, major employers relocating, or any changes in the local economy that might impact rental demand.

2. Marketing Strategy

Target Audience: Ensure your marketing is reaching the right demographic. Given the price point and size, your units may appeal to young professionals, students, or single individuals.

Online Presence: Utilize online rental platforms extensively. Enhance your listings with high-quality photos, virtual tours, and detailed descriptions.

Incentives: Offer move-in specials or discounts, such as the first month free or reduced security deposits, to attract tenants.

3. Property Management Evaluation

Performance Metrics: Evaluate the performance metrics of Ace Management and Reality. Look into their marketing efforts, tenant screening processes, and response times.

Service Audit: Conduct an audit of the services provided by Ace Management and Reality to ensure they are actively marketing your properties and maintaining tenant relations effectively.

4. Unit Appeal

Amenities and Upgrades: Although you have renovated the units, consider adding amenities like high-speed internet, in-unit laundry, or community spaces that can increase appeal.

Feedback Collection: Gather feedback from current and past tenants about what they liked and disliked about living in your units. Use this feedback to make targeted improvements.

Best of luck!

I totally agree. It's not always about the price. Several US markets re currently buyer/renters markets due to the increased supply of properties on market. That means in this case renters have more options and will not only consider price as an important factor. Like Daniel mentioned, amenities could play a big role even if the price is a bit higher. Also location plays a role. Location quality can change. So that could maybe scare some tenants away.
Anyways, Daniel laid It out great. Good luck!

1 Vote

Huntsville, Alabama

All Forum Posts by: Livia Adams

Livia Adams has started 13 posts and replied 40 times.

Post: Looking for Investors in Chattanooga

Post: Looking for Investors in Chattanooga

Post: Looking for Investors in Chattanooga

Post: Looking For Developers for 14 SF home development in Gulf Shores

Post: Cost to tear down large commerical structure and develope residential SF homes

Post: Question re: Tax implications for Seller leaving money in the deal

Post: Any Investors in the Mobile AL area?

Post: Question re: Tax implications for Seller leaving money in the deal

Post: Does Anyone Use BiggerPockets Tools "Community Listings"?

Post: 30% Vacancy Rate on 40 unit Apartment Complex Need A Leasing Expert