Dec 18, 2017
In this second interview of a 2 part investigation into property investment, Agent 251 talks with Taylor Atchison from Atchison Properties in Mobile, Alabama. Taylor specializes in renovating and flipping historic homes and multi-family buildings in the Midtown, Oakleigh, and Downtown areas of Mobile. He is building his reputation on his ability to redesign older and historic homes for modern day living while still retaining the original look and essence of the architecture. Agent 251 wanted to share this "boutique" property approach which is slightly different than episode six with Jared Irby. Diana calls Taylor's community building approach a "romantic" way to look at the property development and real estate business. Atchison's philosophy and "way" is to strive to find the balance between profitability and helping to rejuvenate, renew, and revive old and historic neighborhoods into sustainable communities for the 21st century.
Agent 251's Final Analysis:
Taylor Atchison is clear on his purpose. He’s got a grand vision, and it's all about community and the ability to balance the market economics and his passion for building sustainable communities. I can see how this can be such a win-win for the developer and the surrounding area. You want to see and feel the momentum of Mobile? Taking a ride with Taylor and let him show you his projects and vision. One caveat, don't have a lunch meeting with him at Callaghan's - he has to shake way too many hands to get anything done.
Topics Covered:
- Getting into Real Estate Development when doors are closed to you.
- Taylor Atchison’s design secrets to redesigning a historic home to work better in today’s life and market.
- Planning commission and updating building codes to fit today’s needs.
- The Alabama Historic Tax Credit and how it has benefited Atchison Properties & Mobile. Alabama.
- Taylor Atchison's ideal flip tips and criteria.
- The live/work concept that drives Taylor Atchisson’s ideas and projects.
- How to market and get people to buy in historic neighborhoods and get out of the suburbs.
- Selling homes to the millennial generation
- Why Agent 251 won’t be getting an Applebee's or Dollar General sponsorship
Quotable Quotes
Andres Duany has said that 80% of the population will live in a live/work model by 2030 - Taylor Atchison
Live/Work is a structure that is designed in a way where you can live upstairs or next door to your office or retail space - Taylor Atchison
Live/Work is a structure that is designed where one side is your home, and the other side is your business. - Taylor Atchison
For a long time zoning has been against live/work models and now it’s coming back and being promoted. - Taylor Atchison
Early on in property investment, make your mistakes with other people’s money. - Taylor Atchison
Start by working for someone else, earn your stripes, invest their money because you are going to make mistakes. - Taylor Atchison
My last two years has been my graduate school, Working, learning and asking any question I can. Be a sponge. - Taylor Atchison
If you continue to build the most minimal thing you can for what you can sell a property for you’re never going to do anything mew and exciting. - Taylor Atchison
Selling a buyer on the idea of a historic neighborhood is not a picture on a flier. You have to immerse them in that culture and the way of living. - Taylor Atchison
The Culture of a historic neighborhood is not a bullet point on an MLS listing. - Taylor Atchison
Musicians think that downtown Mobile is cool. New Orleans has been that way for a while, but it’s really expensive. - Taylor Atchison
Buyers want more than four walls. They want experience, and then
they want recognition about that experience. - Diana Will