All Forum Posts by: Mike Salisbury

I believe 10% is typical. The pool of buyers is  small for a deal such as this. You are paying for access to the brokers contacts, their network is very valuable: They have the power in this relationship. Without a Broker with the right connections there is no deal.

Does anyone have a good source of information on Options? And how they are used for future development?

Thanks for the responses. It worked today but as someone mentioned there are relatively few numbers to chose from and almost all have 0 and 1 in them preventing me from spelling out my co. name. Thanks again!

I was looking to add a Google Voice # to my marketing. Is the service not offered in Atlanta or are all the numbers taken? I've tried about a hundred different nos. 404,678,770, and 470 and none were available. Anyone run into this?

Thanks in advance

TK is a turnkey company. They sell renovated properties to investors.

Great Information. To add one point: if you need  a water meter order it the day the permit is received ( its in the same building). I just waited 20 weeks for a water meter. Dept of Watershed is not well run.

@Andrew Cordle 

Have you ever applied for a zoning variance in City of Brookhaven?

Just a couple of thoughts. Sight unseen 1 acre likely will not yield 5 lots once you factor out road, right of way, utility easement, storm water management. These things limit your useable land when subdividing- also check local development code which may have lot size restrictions.

When doing this type of deal my broker at the time wanted 10% of the deal. His thinking was that there are far fewer buyers in this space than residential. Longer listing agreement too -  for this reason.

As far as the neighboring property an assemblage like this is tricky because you will need the approval of the local planning dept. If a future land use map is available that would be starting point to know where the local govt. feels that development should go. Any contract should be contingent on that approval which could take several months (3-9). That approval may never come and sometimes just for political reasons. Your deal is in their hands.

Interested in attending.

Great Points above. One observation: A contractor is capped by the market place on how much he can charge ( maybe 20-25%) and still win bids.  A developer can make a 100% (or more) return.  More risk more reward.

Contractors become developers later in their careers but it rarely goes the other way.

@Scott Lewis could you give more detail on your preliminary scrub of title? It seems this info would help many on here.