While some real estate developers, professionals, and investors I encounter don't see the value of exploring major opportunities for the future because their focus is on the coming few days, it means plenty more opportunities for those that search.
Suppose you uncover a major project opportunity involving more than 1,500 residential units in need of rehab, with a low occupancy rate, all within a 3-mile radius, coming available at what should be a greatly reduced price. If fully occupied, those units would comprise more than one-third of the available rentals within that community.
If acquired "low" and renovated, the result could be years of significant long-term portfolio income. Getting there would involve estimators, designers, construction, brokers, investors, and plenty of contractors, bringing work to a lot of people and entities.
It so happens that a bankruptcy, due in part to fraud (as linked below), and a natural disaster, have led to this very situation becoming a possibility starting next month. This is the case in an Opportunity Zone section of East New Orleans, which has not been invested in to recover from hurricanes while the shortage of local affordable housing is growing. One of the developments is built for 548 units, built in 1984.
Many will read this and think about why it could not work for them. Others will think about people in their network and resources that could team up to make a potential life-changing project come together. Personally, I see the potential for some of my associates and me to make this work rather than come up with excuses not to try. Let's connect!
https://www.justice.gov/opa/pr/four-real-estate-investors-sentenced-multimillion-dollar-loan-scheme
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