Here's a big idea I'd like input on. (Put your thinking caps on) - Posted by Matt B

Posted by Ed Garcia on February 11, 2000 at 13:58:20:

Matt:

Again, nothing wrong with your thinking, except these little towns
are more than likely ahead of you. If they think that they are a good
candidate for a restoration , or that their town has merit in the scheme
of new business. They will attempt to get government financing.

In our area there are several pocket neighbor hoods that are being
rezoned or government financed for rehab of the city.

I think that it’s great that you’re thinking big. But you have to crawl
before you walk, and walk before you run.

So spend your time brainstorming for your next deal.

Ed Garcia

Here’s a big idea I’d like input on. (Put your thinking caps on) - Posted by Matt B

Posted by Matt B on February 11, 2000 at 08:57:15:

I am actually thinking of this in just the hypothetical right now, but wanted to see what the brains of this board could come up with. Here’s the idea… Say I locate a small town that is pretty run down. It is surrounded by good middle class towns. Most of the properties are run down and falling apart. It is obviously not one of the best places to live if you were to see its residents. What would it take to buy up property, renovate or tear down and replace, and turn it into a decent community that could produce a good return on the money invested to get it into good shape?

I have thought about having to do research into why that particular community turned into the unpleasant place that it is now. Also, what sort of business would be required to turn it back into a good place to live. Would I have to put up shopping centers? If so, what type of businesses would I want to attract there? What about a mall? Would I want to try to get increased bus lines? How about new roads? Cost of demolition and new construction and renovation would need to be factored in.

Anyone ever given this detailed thought? What sort of planning would have to be done to ensure a project like this succeeding?

By the way, I got this idea from watching Robocop 2 the other day. OCP tries to buy up Detroit and turn it into a great place to live again after it has been run down.

An actress who did just THAT! - Posted by SusanL.–FL

Posted by SusanL.–FL on February 15, 2000 at 08:20:11:

Several years ago, Pia Isadora (sp?) bought up a little town for (I believe) $22 Million. I think it was the town she grew up in.


Sounds like a very interesting idea you have! All it takes is (lotsa) money! :slight_smile: Good luck!!

Re: Here’s a big idea I’d like input on. (Put your thinking caps on) - Posted by Ed Garcia

Posted by Ed Garcia on February 11, 2000 at 09:36:54:

Matt:

The thought is not a bad idea, except you need INCOME to make a town or city grow.
A shopping mall will go only where there is existing population, or if they are convinced
that the area is part of, or in the way of, a growth pattern.

Usually the way it works, is when there is a city that has grown in leaps and bounds.
and small towns, which are called suburbs, then grow off of them because it’s to
expensive to live in the city. The populous then commutes to the city for employment.

For a town to grow, it needs to create income for it’s inhabitants to live. If you could
bring industry, or attract some major corporations such as what happened in Arizona
10 years ago then you could pull it off.

If you got this from watching Robocop 2, then I’m glad you didn’t watch Friday the 13th.

(smile)

Ed Garcia

I thought it was Kim Bassinger, in Georgia??? (NT) - Posted by David

Posted by David on February 15, 2000 at 20:17:16:

Nt

Re: Here’s a big idea I’d like input on. (Put your thinking caps on) - Posted by Matt B

Posted by Matt B on February 11, 2000 at 11:36:23:

OK, Ed, excellent point. Here’s a twist on the idea that I’d like your input on then… How about trying this “renovate and rebuild” idea on a suburb outside a large, busy city? Let’s assume same conditions. Let’s also assume most property owners would sell you their property for the back taxes that are owed. Run down buildings, lower income residents, lots of vacant buildings. What would I look for or research in that situation?

Re: Here’s a big idea I’d like input on. (Put your thinking caps on) - Posted by Mark (SDCA)

Posted by Mark (SDCA) on February 11, 2000 at 11:16:39:

A brief follow up to Ed’s comments. I have driven through these tiny towns out in the middle of nowhere. These towns are basically closed economies. Often, the only reason they survive is government money.

Mark