All Forum Posts by: Tim Rutledge

@Mav Larson what is keeping you from developing the site yourself? Banks are now opening up again and have the appetite for construction loans. To develop yourself you would need a good real estate attorney that is familiar with construction contracts & lending, an architect, engineer, GC, and a construction manager. If $$$ is your problem that is easier to come by than you think. Good projects sell themselves. 

Anyone here on BP have any experience working with City of Atlanta: Watershed Management on negotiating/settling large water & sewer balances? If so what was your experience dealing with the City, were you successful (if so why) and what % discount did you receive? 

A developer that asks you to provide your current NOI to base an offer on is either trying to take advantage of you or doesn't know what they are doing. Like Joel said above current NOI/future NOI has no impact on the current value unless the site is currently fully built and being operated at its highest best use which it doesn't sound like it is. I think before you do anything else, including putting more money into additional improvements, you should reach out to an architect to help you do a zoning analysis to confirm exactly what you can build on the site. If you already have a relationship with an architect they might help you a no to little cost. Once you know exactly can be built you price the property based on a buildable $ psf. You can get this value by speaking with local real estate agents.

@Manolo D.I'm only requesting estimates on hard costs. I have a pretty good grasp on what to expect from a soft cost stand point. 

Thanks @Andrew Cordlefor the response and thanks for passing along those contacts.  

Hi all. This post is for those familiar with construction costs in the Atlanta Metro Area. I'm looking to invest in multi-family properties/projects in Atlanta and although I am very familiar with development costs in NYC I am just now beginning my market research in Atlanta. For those of you that know can you provide a range for Gut Rehab costs vs. Ground Up Construction? Or at the very least provide resources that you use in your research. Thanks. Tim