All Forum Posts by: Perry Ivy

Like stated above, Im not new to the real estate game, however I am needing ideals concerning 12 acres that I'm purchasing. Details: 12+ acres and a four bedroom house. Price: 132k Zoning front is zoned c3, middle is c1 and the back is r1 Location class: C Intent: build an elderly housing community. This property backs up to government housing, a 55+ community and an open field. I want to do a gated community and am considering single floor two bedroom, one bath, wheelchair accessible housing. With my residential license I can build a fourplex, so I've considered building four units at a time. I have good credit, cashflow and relationships at the bank, I just don't know what is involved in putting this community together. I've considered growing it slow, to minimize the risk, I just don't know if that will hurt or help. Does anyone know if there is government monies available for a project like this? My heart is set on helping the elderly, do the usual investing strategies are not working for me. Thoughts and ideals would be appreciated.

@Devan Fowler yes please keep me in mind. Perhaps at some point we can get together, at this moment I'm in the middle of a major renevation and I'm racing the weather :) stay warm. 

Devan Fowler first thank you for your service to our country. I live in Jonesboro and I'm always looking for a good deal. if you want to push some things at me then I would be happy to take a look and if I can be of assistance let me know.

Matthew Spence welcome to BP. I live in Jonesboro, but I see your from Caruthersville. Have you considered Paragould? Jonesboro is a sellers market and has a strict building code, but Paragould is the opposite and the real estate is much cheaper. If I can help shoot me a message.

I want to share my story to hopefully inspire others: I picked up a rental property that had a house a shed and a little over two acres. The house is close to the road and shed was behind it, towards the back of the property. I say it was a shed, however upon talking to the previous owner, I found out it had been used to feed horses, a horse shelter, junk room, a bee farm, ect... The whole side had been burnt, apparently smoke is used in reference to the bees and he instead caught the shed on fire. The front was ate up by termites and the back was open for the horses. Electricity was already on and there was a septic tank, so that was a big plus and saved me from having to pull permits and deal with inspections. Long story short, I did a complete remodel and now my wife and I live in a house and haven't had to pay a mortgage or electricity bill for about six years. There were challenges and inconveniences along the way and it's not perfect, but we have and continue to save lots of money. Btw it's a 632 square foot house that we call home :)

Thomas Lillevold First: thank you for your service to our country. Second: kudos for trying to protect your community and at your own expense. Bums should be thrown out on their head, so cash for keys has always pissed me off. I think most people are afraid of conflict, so they resort to these measure. I do understand the other side of, less damage, a quicker turnaround, time loss, ect, however I don't do the cash for keys method.

ALLAN SMITH I use my iPhone to take notes, take pictures and shoot videos. Between the three I can get the info that I need, plus I can share the info with my contractors for rough estimates and ideas.

Jason Hartman My experience: I purchased a single home next to my residence, that was converted to a duplex. Prior to purchase I called city zoning and was told that as long as the neighbors didn't complain there wouldn't be a problem. Since I'm the only neighbor, I've kept my complaints to myself ha. This may or may not apply to you, however if the community is used to it being a multi family then they likely won't complain. Sometimes it's better to ask forgiveness, than to ask permission. However my first plan of action would be to lean on the realtor and let him do all of the work. Good luck sir

Im wondering if corporate holdings are like personal holdings, where if you hold a property a year you avoid the short term taxation. Any info on this is appreciated. Thanks and please tag me, so I'll get notified.

Lisa Misuraca Word of caution: if the house isn't properly zoned, you may have some legal issues. It basically boils down to neighborhood complaints, so you might keep that in mind :)