Just arrived back from a 3 day excursion to Georgia visiting the city, its University, and nearby Reynolds Plantation on Lake Oconee. The area is home to many rental properties and second homes for affluent Atlanta residents. So many 1031s are done here that the Board of Realtors site has a link to "1031 Tax Exchange". Unfortunately they have no content now (February 16th) but I just emailed them to rectify their void in the marketplace!
Athens, Georgia, is home to the University of Georgia. In commercial real estate, Georgia's Terry School of Business is one of the top ranked programs for specializations in both Real Estate and Insurance.
The University has seen its academic reputation rise exponentially since Georgia's Hope scholarship program was started in 1993. The merit-based scholarship allows any resident of the state of Georgia to attend any public college in the state without paying tuition, provided they maintain a 3.0 GPA. The arch on the right, however, supposedly has a curse that if you walk under it as a Freshman you may not graduate in four years.
During our visit, we watched a very close basketball game between the Florida Gators and the Georgia Bulldogs. The game had a very surprising outcome for most locals. The Georgia basketball team managed to avoid a winless conference season by knocking off Florida 88-86 in front of a lively squad of 'Dawgs. We proceeded to grab dinner at East West Bistro in Downtown Athens. After dinner, we slept, ran a 5k, and moved on to Lake Oconee.
The Reynolds plantation offered many real estate opportunities. Houses for sale crossed most demographics with some homes like this one being pretty much out of 99% of the population's' wallet:
The History of the Reynolds Plantation from the Reynolds marketing collateral is:
"Reynolds Plantation is part of what was once known as "Cracker's Neck," a highly favored section of Greene County (named for Revolutionary War hero General Nathaniel Greene). After a period of decline, approximately 7,000 acres of Cracker's Neck were reclaimed by Mercer Reynolds Sr., who built a hunting retreat named "Linger Longer." A Greene County native, Reynolds was a highly successful businessman and inventor, earning a patent for his process of solidifying cottonseed oil. Although he moved to Chattanooga in the 1920s, he maintained ties to the area, often returning to Linger Longer to hunt, fish and relax.
During this same period, James Madison Reynolds, Sr., Mercer's cousin, was assembling land in the area for timber production. By the late 1930s the combined land holdings of the Reynolds family approximated 10,000 acres, which were left in a trust. In 1985, the trust was released to his grandchildren.
The owners of Reynolds Plantation began working to determine the best use of the land that their family had owned for so many years. As development of Reynolds Plantation continues, members of the Reynolds family remain intensely mindful of the historical value of the land and the need to preserve, and enhance, its natural beauty and legacy."
We stayed at the Ritz-Carlton Lodge. My wife had surprised me with massages after a 5k race we ran. The massage was terrific and I have learned that I need to stretch my IT band and calves better according to the wonderful and talented Ms. Vicki.
The takeaways from the trip: college students have the best life ever and a close second are the residents of Reynolds Plantation. Overall, I suggest a visit to both!
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