found good real estate deal.. $8-10mil from $2-3mil - GoFuckYourself.com

Donnie Gangsta · 09-09-2004, 11:27 PM

I found a good deal today in Vegas... this insurance company/REIT went bankrupt and have some half developed lots in one of the most exclusive places in Vegas... they want $15mil for the lots but I think they would come down to $10mil... 33 lots.. they would sell for $600k/each once completely developed... Anyone wanna go in on it with me? Only need about 20% down... zoning is already approved, etc.. just a matter of completing and marketing .. looking for about $1.5mil-2mil from investors.... figured the interest on the loan could be deferred for a year so only 20% out of pocket at first.. would probably end up being about $800k in carrying costs (I would say it might take 24 months to sell all the lots but 12 months interest would be deferred)

KMR Stitch · 09-09-2004, 11:34 PM

Only the people with money to invest will understand what you are talking about ;-)

Good luck with that though.

datatank · 09-09-2004, 11:41 PM

Quote:

Originally posted by Donnie Gangsta

they would sell for $600k/each once completely developed

f

Do you mean with houses on them or just the lots?
Where are they located? What size houses? I have a few friends with some cash in vegas looking to invest.

A C · 09-09-2004, 11:46 PM

lol where's all the ballers now

AC

Persius · 09-09-2004, 11:48 PM

sounds good ... im not a big baller but kudos to your plan and a bump for ya donnie

datatank · 09-09-2004, 11:48 PM

Quote:

Originally posted by A C
lol where's all the ballers now

AC

I think you guys are "ballin" with the best of them now days.

Donnie Gangsta · 09-09-2004, 11:49 PM

Quote:

Originally posted by datatank
Do you mean with houses on them or just the lots?
Where are they located? What size houses? I have a few friends with some cash in vegas looking to invest.

They are just lots. They're in Seven Hills in Henderson and all of them have strip and golf course views. It's a gated neighborhood and the lots have already been subdivided and the final plat has been approved by the city. The lots are ready to build on. The road is cobblestone and needs to be paved. I would say the project is 70% completed.

I would estimate it would cost about $100k to finish the development of the lots (including the gate -- I would prefer doing guard gated as it raises the value). Lots with a comparable view in Seven Hills sell for $500-$700k. If we could get them down to $10mil for the whole thing the project would double its money without having to even build any houses.

Houses in the neighborhood sell for about $350/foot ($1.5mil+ homes)

datatank · 09-10-2004, 12:01 AM

Donnie can you hit me up about this deal?
I know a few people in town who may be interested. I will pass on the info to them

[email protected]
Icq 98055668

Semi-Retired-Dave · 09-10-2004, 12:45 AM

Hit me up, cool part is you can pre-sell them on Phase one and two.

[email protected]

or AIM @ cyberagedave

Donnie Gangsta · 09-10-2004, 01:07 AM

Quote:

Originally posted by CyberAge-Dave
Hit me up, cool part is you can pre-sell them on Phase one and two.

[email protected]

or AIM @ cyberagedave

Dave,

I hit you up on AIM

Jer · 09-10-2004, 03:35 AM

Bump for Donnie

A C · 09-10-2004, 10:28 AM

bump for the realestate

Blondie23 · 09-10-2004, 12:50 PM

bumpadeebump.

SykkBoy · 09-10-2004, 01:05 PM

I sent a link to this thread to a couple people who might be interested...

If you can email me a little more info on it [email protected] I'll put them in touch with you

x-vision · 09-10-2004, 01:27 PM

Hey I might be interested. Drop your email on ICQ and I'll have my real estate manager get in touch with you.

Donnie Gangsta · 09-10-2004, 01:29 PM

I'm trying to get ahold of the owners today to see if they'll do a rolling buy option contract instead of having to buy it all up front... will let you guys know..

speakthetruth · 09-10-2004, 01:38 PM

Do you know anything about real estate development or construction? If the deal is sitting out there in Vegas and has not been snapped up by all the local investors who have been doing this for many years. There may be a reason.

But it would not surprise me if you get flooded with emails from dreamers.

detoxed · 09-10-2004, 01:42 PM

Quote:

Originally posted by KMR Stitch
Only the people with money to invest will understand what you are talking about ;-)

Good luck with that though.

I understand what he's talking about, its not rocket science

Donnie Gangsta · 09-10-2004, 01:58 PM

Quote:

Originally posted by speakthetruth
Do you know anything about real estate development or construction? If the deal is sitting out there in Vegas and has not been snapped up by all the local investors who have been doing this for many years. There may be a reason.

But it would not surprise me if you get flooded with emails from dreamers.

yes I know about both.. it hasn't been snapped up because: a) they want $15mil for it and that's a lot, b) it's not listed on the market, and c) it's very new.. they were working on it up until a couple months ago... there is no reason other than these things.

chaze · 09-10-2004, 02:02 PM

How much to buy in to the project, $50k enough?

I know two people and me that would be interested if the numbers work out.

09-09-2004, 11:27 PM	#1
Donnie Gangsta Confirmed User Join Date: Mar 2002 Location: Las Vegas Posts: 1,104	found good real estate deal.. $8-10mil from $2-3mil I found a good deal today in Vegas... this insurance company/REIT went bankrupt and have some half developed lots in one of the most exclusive places in Vegas... they want $15mil for the lots but I think they would come down to $10mil... 33 lots.. they would sell for $600k/each once completely developed... Anyone wanna go in on it with me? Only need about 20% down... zoning is already approved, etc.. just a matter of completing and marketing .. looking for about $1.5mil-2mil from investors.... figured the interest on the loan could be deferred for a year so only 20% out of pocket at first.. would probably end up being about $800k in carrying costs (I would say it might take 24 months to sell all the lots but 12 months interest would be deferred) Last edited by Donnie Gangsta; 09-09-2004 at 11:29 PM..

09-09-2004, 11:46 PM	#4
A C Confirmed User Join Date: Dec 2002 Location: Im here, and there Posts: 1,637	lol where's all the ballers now AC __________________ Do you have a "Exit here - if under 18" link on your warningpage? Chances are you are linking to yahoo/google/disney etc. Those days are over, signup at www.warningpages.com to get PAID for this traffic that has been wasted by so many for years! icq#777970

09-10-2004, 12:45 AM	#9
Semi-Retired-Dave Too lazy to set a custom title Join Date: Apr 2004 Location: LA Posts: 11,190	Hit me up, cool part is you can pre-sell them on Phase one and two. [email protected] or AIM @ cyberagedave __________________ Support a Good Cause

09-10-2004, 10:28 AM	#12
A C Confirmed User Join Date: Dec 2002 Location: Im here, and there Posts: 1,637	bump for the realestate __________________ Do you have a "Exit here - if under 18" link on your warningpage? Chances are you are linking to yahoo/google/disney etc. Those days are over, signup at www.warningpages.com to get PAID for this traffic that has been wasted by so many for years! icq#777970

09-10-2004, 01:05 PM	#14
SykkBoy Jesus loves bacon Industry Role: Join Date: Feb 2001 Location: Sin City, Motherfucker Posts: 19,969	I sent a link to this thread to a couple people who might be interested... If you can email me a little more info on it [email protected] I'll put them in touch with you __________________ Support my new movie “The Second Coming”

09-09-2004, 11:34 PM	#2
KMR Stitch I am cool Join Date: Jul 2003 Posts: 14,494	Only the people with money to invest will understand what you are talking about ;-) Good luck with that though.

09-09-2004, 11:48 PM	#5
Persius Tap into MOBILE! Industry Role: Join Date: Jul 2003 Location: Hollywood Posts: 11,779	sounds good ... im not a big baller but kudos to your plan and a bump for ya donnie

09-10-2004, 12:01 AM	#8
datatank Confirmed User Join Date: Aug 2004 Location: My dog is blacker than Tupac Posts: 5,471	Donnie can you hit me up about this deal? I know a few people in town who may be interested. I will pass on the info to them [email protected] Icq 98055668

09-10-2004, 03:35 AM	#11
Jer God is Brazilian Join Date: Feb 2001 Location: Brazil Posts: 10,601	Bump for Donnie

09-10-2004, 12:50 PM	#13
Blondie23 Confirmed User Join Date: Aug 2001 Posts: 408	bumpadeebump.

09-10-2004, 01:27 PM	#15
x-vision Confirmed User Join Date: Nov 2002 Location: virtual reality Posts: 1,013	Hey I might be interested. Drop your email on ICQ and I'll have my real estate manager get in touch with you. __________________ Get the VirtualFX 2D to 3D TV Converter or 3D Glasses for your PC. Great affiliate and resale programs available. http://www.realistixxx.com/

09-10-2004, 01:29 PM	#16
Donnie Gangsta Confirmed User Join Date: Mar 2002 Location: Las Vegas Posts: 1,104	I'm trying to get ahold of the owners today to see if they'll do a rolling buy option contract instead of having to buy it all up front... will let you guys know..

09-10-2004, 01:38 PM	#17
speakthetruth Confirmed User Join Date: Jul 2004 Posts: 400	Do you know anything about real estate development or construction? If the deal is sitting out there in Vegas and has not been snapped up by all the local investors who have been doing this for many years. There may be a reason. But it would not surprise me if you get flooded with emails from dreamers.

09-10-2004, 02:02 PM	#20
chaze Confirmed User Industry Role: Join Date: Aug 2002 Posts: 9,752	How much to buy in to the project, $50k enough? I know two people and me that would be interested if the numbers work out.