Hi from Be Developer

Ok thanks. Just thinking if you only have one reliable team, and if it takes a few months per rehab, you've got a few years worth of stock already!

 

.... You use more than 1 team, whatever is required. Just as we sourced a good team no reason why we can not repeat this. Some of our blocks have doubled in value, there is also the option of flicking to move stock, taking profits, but we would make far more money building.

There are also other strategies besides rehabs and developing and other markets, but that will be coming not ready to post on this yet

 

Hey sorry only just saw your reply. Thanks

 

Update:

Seems like honeymoon in USA is over!

Renovating SFR,duplex,quad plexes and new builds were just to get our toes wet.

We are happy to announce the purchase of the landmark building in suburbs of greater Boston.

See article below:

Former Item building sold for a second time | Itemlive

Project website:

www.lynnlandmark.com

We expect It will be challenging but interesting journey ahead. (Please don't ask Numbers or profit %, etc as yet - this one is a different beast. Project specific thread will be created later in a year when we have clear idea)

I am happy that we are ON TRACK with our brand identity /logo. Developing single home to multi units to apartment complex in Boston.

Key things are to focus on TREND of making consistent profits, build LUXURY For LESS.

As always - "Together, we will go far"

Massive Thanks to Be Developer investors!

Regards

Chirag

 

Why do you think the previous buyer abandoned the idea?

 

Love your work!

 

Thanks Wukong

Will be in Boston tomorrow to meet with the Architect, City, various officials from the development group.

Downtown Lynn is currently going through significant change.

The City is looking at revitalising downtown Lynn, and upgrading/revamping the waterfront.
Developers are moving in which is always a good sign and I can see the potential as surrounding areas/suburbs have significantly higher end values. The idea is to buy in cheap, add value and the market trend will do the rest.

Lots of work to get this one over the line and networking with the right people is key.

 

Good work Chirag & Marisa

 

Video of building:

We also bought next door building too : will upload video on that soon.


Orginal Press Release:

Be Developer Group from Georgia acquires former Daily Item building in Lynn, MA.

 

Wow - seems like a big building for 900k (obviously I don't know the area or values to compare it to - but seems big. Will be interesting to see your plans for it.

Any updates on the other places you had in Atlanta? I think you had 17 or is it 16 now after the fire house has sold?

 

Boston
We have met with architects on site and Currently have three architects looking at how to maximise site/building and survey should be ready shortly

Bonus is 15 car park at rear and basement which turns out we have addition sq ft here, and Another building at rear. Big project and we are looking at all options

Other projects in Atlanta at different stages - the multi unit(4 units) we have completed and rented out for cashflow, not selling

2 developments currently still with Council

We have other projects close to completion and will post
We expect to achieve higher sale prices as market continues to rise in Atlanta, seems to be the case in most States in US

 

Developers have been buying up property/land on the water front, and the City has revitalisation programs in place. Lets see what happens over the next 2 years.

 

Wow! What a fabulous project!

Keep those old printing presses as features if you can.

 

Yes, I think so. We were quoted something like $65,000 to remove. They are staying for now

The ground floor will remain commercial, we would like to replicate the Krog Street Markets in Atlanta, which has been very successful.

What to Eat at Atlanta's Krog Street Market

Our property is in the Art Precinct, and city and government are trying to revitalise this area, exciting if we can utilise/build in the car park area.

 

Cool. Will be curious to see what the architects come up with for your Boston one.

And the Atlanta ones - if you can post back in their threads some updates that would be interesting to see where there are at.

Also - will you just be working on the Boston Dev now, or are you still going to flip houses in Atlanta, or do some houses in Boston too or other markets? You were thinking of Texas at some stage if my memory serves? Not going to compete with Chip and Joanna in Waco? Fixer Upper

 

We will be continuing with projects including developing, flipping and holding in Atlanta when good deals come along.

We are currently setting up office in Boston and We will have more boots on the ground. Wont be posting on this until we have everything signed off

Not looking at Texas we have enough to play with at the moment

Happy investing everyone

 

Is the lower 2-3 floor rear section part of your building? In Picture 2 and 3 on that link? Also on pic 6 - Looks like the front building wasnt finished, or nearly like it has been chopped off! Would be nice if could continue the facade and build new inside.

 

Ok cool. Happy setling in. Hope you are ready for Boston winter! (You've got several months to psych yourself up for it.)

 

It's in the hands of the experts/architects who have been involved in similar projects, can't wait to see what they come back with

We also have ocean views from top floors so we want to maximise potential here

Boston may be cold....yikes.... awesome city though and not too far from NY, hoping to mix it with some travel

 

Hi All,

It's been 2 year since I started Be Developer and think its time I posted an update on what has been happening and where we are go from here.

Australia:

5 Development project completed (We advised clients to sell property with DA/Permit to cash out funds. Developing would have made sense but ROI would have been more or less)

2 Deve Sites are under Construction

1 Deve site is between pillar (Council) and post (New planning/zoning) but we are at VCAT with WIN situation.

1 DA application pending in NSW

We dropped Buyer's Agent Tag!

USA:

18 Property Acquisition to the date (1 every 3 week) Mix bag of Deve site/ Commercial/Apartments/Buy n Hold

41% Return on Investment on our latest residetnal project Link here:
www.propertychat.com.au/community/threads/atlanta-ga-renovation-no-2.15785/page-5#post-397134

80% + Capital Growth on Few of our Residential Land Hold: (we have 5 block here) see link below on one of them.

Our land;
995 Farrington Pl SE, Atlanta, GA 30315 | Zillow

Next block sold for:
232 Farrington Ave Se, Atlanta, GA 30315 - Recently Sold Land & Sold Properties - realtor.com®

29% ROI per annum (set to drop at 19%mid next year) on Commercial property with 40% Below Market Valuation . Link
Commercial Property 2 - Atlanta

Latest Press Release:
Be Developer group continues its buying spree | South Carolina Magazine

Personal:

Property:
Completed both Melbourne sites. sold most of IP in Australia.

Education:
Still learning american market and industry specific lingo.

Transition:

Transition 1; AUS 2 USA

Transition from playing in to JUST Australian market to USA has been amazing and to be honest, its been an eye opener.

52 states- 104 major city to play with.

Once we settle in to US - next stop is UK.

Transition 2: Clients Vs Partners

With our USA venture - We abolished "Clients - Operator" model and streamlined into Partner model. Our partners owns piece of Be Developer Group. it keeps us on track to deliver bumper profits and it provides crystal clear transparency. .It also helps us to keep our trading margin tad bit higher.

Transition 3: from being just Property Developer 2 just Focusing on ROI for GROUP

It seems as i personally move up to the ladder of business world, my life is just becoming binary. Just being focused on numbers- rest is just a Noise that i don't want to hear but have to deal with it on daily basis. this how i see numbers now:


17% body fat
120 heart rate
16 hours work a day
100% shopping spree
Double digit ROI. for investors and partners
120% venturing in 2 new things
100% Noise cancellation on Negativity
1 Goal

All above knowing

End result could be

0 = fail

Or

1 = success

P.S Luckily it's been 1 for all above numbers so far !!



Where does Be Developer go from here?

The plan is to continue sourcing great development sites / commercial/resi deals in USA. stay on course for Investment/De Investment on our US portfolio.

Venture into acquiring established mid cap companies with view of value add or spin off!


Thank you:

Let me take this opportunity to thank you and acknowledge somersoft and property chat community. without such platform - Be Developer wouldn't exist.

I would also like to acknowledge and thank our forum clients - Partners.

Stay tuned exciting news /development is just around the corner


Regards
Chirag