( Tyler Perry ) BOUGHT THE LAND TORE THE MUTHA FUCKING HOUSE DOWN

51 SIMPSON ROAD

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The actor and entertainment mogul who is the creative force behind TBS sitcoms “Meet the Browns” and “House of Payne,” may soon take up residence in north Fulton County. Perry is the new owner of Dean Gardens, a 58-acre estate on Old Alabama Road in Johns Creek, according to a person with direct knowledge of the deal.

The $7.6 million property sale was completed in late July, according to FMLS, the local real estate listing service, but the buyer was not named. The house, most recently assessed at $6.5 million, took more than four years to build. Off and on the market for 15 years, it was to have been the dream home of the former property owner Larry Dean and his former wife, Lynda, but they separated not long after construction was completed.

Perry’s publicist did not respond to e-mails for comment.

“There is a buzz around town,” said Mike Bodker, mayor of Johns Creek. “I’ve not officially heard, but if it is true, I’m sure the citizens of Johns Creek will gladly and openly welcome Mr. Perry.”

The 32,000-square-foot mansion currently on the property will be torn down and it is believed Perry will build his own home. The gardens and location along the Chattahoochee River were two of Perry's favorite features of the property, the source said.

Bodker said Perry’s desire to keep the land as a private residence will likely come as a relief to many in the area. He said there were mixed opinions on the best solutions for the property but that “this will be a great benefit to the citizens.”

“I haven’t had the opportunity to meet or speak with Mr. Perry, but it is my hope that he will become an active citizen of Johns Creek,” Bodker said.
 
Can't do nothing but stand up and point and give him the head nod....

That's how you do it
 
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The actor and entertainment mogul who is the creative force behind TBS sitcoms “Meet the Browns” and “House of Payne,” may soon take up residence in north Fulton County. Perry is the new owner of Dean Gardens, a 58-acre estate on Old Alabama Road in Johns Creek, according to a person with direct knowledge of the deal.

The $7.6 million property sale was completed in late July, according to FMLS, the local real estate listing service, but the buyer was not named. The house, most recently assessed at $6.5 million, took more than four years to build. Off and on the market for 15 years, it was to have been the dream home of the former property owner Larry Dean and his former wife, Lynda, but they separated not long after construction was completed.

Perry’s publicist did not respond to e-mails for comment.

“There is a buzz around town,” said Mike Bodker, mayor of Johns Creek. “I’ve not officially heard, but if it is true, I’m sure the citizens of Johns Creek will gladly and openly welcome Mr. Perry.”

The 32,000-square-foot mansion currently on the property will be torn down and it is believed Perry will build his own home. The gardens and location along the Chattahoochee River were two of Perry's favorite features of the property, the source said.

Bodker said Perry’s desire to keep the land as a private residence will likely come as a relief to many in the area. He said there were mixed opinions on the best solutions for the property but that “this will be a great benefit to the citizens.”

“I haven’t had the opportunity to meet or speak with Mr. Perry, but it is my hope that he will become an active citizen of Johns Creek,” Bodker said.

Can you post the link to this story? I've been to this house a couple of times and although we are in a recession and home values have plummeted across the country this property is worth a lot more than $7.6MM. That same property has been listed for $50MM in years past.
 
Why buy somebody else dream if you have that much money? The shit looks tight from the pics but I would buy land and build my own.
 
Why buy somebody else dream if you have that much money? The shit looks tight from the pics but I would buy land and build my own.

thats what he is doing, the property is on a Prime location on the Chatahoochee river. He is going to demolish it and build a 3 story 4 wing Super Spread..
 
I don't care how much money I have.
their is no way I could live in something like that.
what is the point of buying a Mansion like that.
I doubt dude will sleep 100 nights in that building.
When you take into account the upkeep and the difficulties selling an estate like that.

it's not even a good investment.
investments make money, that estate is costing Tyler Perry money every single day.
 
I don't care how much money I have.
their is no way I could live in something like that.
what is the point of buying a Mansion like that.
I doubt dude will sleep 100 nights in that building.
When you take into account the upkeep and the difficulties selling an estate like that.

it's not even a good investment.
investments make money, that estate is costing Tyler Perry money every single day.

Here we go... :smh:
 
I don't care how much money I have.
their is no way I could live in something like that.
what is the point of buying a Mansion like that.
I doubt dude will sleep 100 nights in that building.
When you take into account the upkeep and the difficulties selling an estate like that.

it's not even a good investment.
investments make money, that estate is costing Tyler Perry money every single day.

Real estate makes money!
 
:lol:At the former owners building that ugly shit...and then separating.

Kinda like Tiger building his 30,000 square foot manse...and now sitting alone in it.
 
I don't care how much money I have.
their is no way I could live in something like that.
what is the point of buying a Mansion like that.
I doubt dude will sleep 100 nights in that building.
When you take into account the upkeep and the difficulties selling an estate like that.

it's not even a good investment.
investments make money, that estate is costing Tyler Perry money every single day.

Stop being so small minded. That like people who have a good job making good money and still want to live in the hood. That is his land he can do whatever he wants to do on it, fish swim ride atv's shoot his gun for recreation. That is what is defied as "good living".
 
I don't care how much money I have.
their is no way I could live in something like that.
what is the point of buying a Mansion like that.
I doubt dude will sleep 100 nights in that building.
When you take into account the upkeep and the difficulties selling an estate like that.

it's not even a good investment.
investments make money, that estate is costing Tyler Perry money every single day.

This is why we as a people will never be the movers and shakers that we are meant to be. Go ask one of those Mega Church Prechers if God can make it possible for him to live like that.
 
Appreciate it, bruh. Tyler Perry got a very, very, very good deal. When the market turns around in a couple of years this property along with the home he will build onto it will be easily worth $60MM and quite possibly up to $75MM.

and being in Johns Creek helps big time. As soon as they leave Fulton, its going to be on...
 
Stop being so small minded. That like people who have a good job making good money and still want to live in the hood. That is his land he can do whatever he wants to do on it, fish swim ride atv's shoot his gun for recreation. That is what is defied as "good living".

last time I checked.
50 Cent was still trying to sell is mansion in Connecticut
and he got it for a real good price.
he still can't sell it and make a profit.
these massive estates are damn near impossible to sell.

they always stay on the market for many years and sell for a lost to the owner.

upkeep upkeep upkeep
that shit ain't no joke when you talking massive estates.

Tyler perry's best bet is to build something more manageable and sustainable on the land.

tearing down the buildings and building something just as or more massive than the current buildings would be a dumb move on his part.
 
last time I checked.
50 Cent was still trying to sell is mansion in Connecticut
and he got it for a real good price.
he still can't sell it and make a profit.
these massive estates are damn near impossible to sell.

they always stay on the market for many years and sell for a lost to the owner.

upkeep upkeep upkeep
that shit ain't no joke when you talking massive estates.

Tyler perry's best bet is to build something more manageable and sustainable on the land.

tearing down the buildings and building something just as or more massive than the current buildings would be a dumb move on his part.

Tyler Perry has just bought one of the top 3 best locations on the Chattahoochee river... I don't think he will have a hard time selling.

The reason why the house did not sell prior was due to the simple fact that it was cheaply built with 1990's craftsmanship. Anyone who knows a thing about building houses will attest how shitty 90's Mansions are. ( Master P's house on Cribs )
 
last time I checked.
50 Cent was still trying to sell is mansion in Connecticut
and he got it for a real good price.
he still can't sell it and make a profit.
these massive estates are damn near impossible to sell.

they always stay on the market for many years and sell for a lost to the owner.

upkeep upkeep upkeep
that shit ain't no joke when you talking massive estates.

Tyler perry's best bet is to build something more manageable and sustainable on the land.

tearing down the buildings and building something just as or more massive than the current buildings would be a dumb move on his part.

Anything the good lord blesses you with during your lifetime you can't take it with you when he calls for you to come "home". So you may as well live it up the best way you can.

Work hard play harder.
 
People rarely make big money turning around real estate on that level. You jaw to consider what it'll cost perry to tear down the current house, then clear it out, and finally rebuild.

Then there'll be the cost of maintaining it. So if he breaks even he'd be good. The money is in fixing bad land - not tearing dream homes down to rebuild completely.

With that said, perry's got the money- so he can do whatever he wants.

But don't think he's buying for 7 and will make a profit of 60-70 mil on it.
 
Man the upkeep of the property now is out of this world. I wonder what he is going to build.

I'm sure it's high since it's the biggest mansion in Atlanta, but the real reason it's being torn down is because it just looks tacky and gaudy inside. Like Liberachi on crack. It took something like 4 years to built and is rumored to be the reason why the original couple that built it broke up before it was finished. Instead of compromising and choosing a style they mixed all that shit together.

edit: Look up Deans Gardens on google if you want to know a little history about it.
 
I don't care how much money I have.
their is no way I could live in something like that.
what is the point of buying a Mansion like that.
I doubt dude will sleep 100 nights in that building.
When you take into account the upkeep and the difficulties selling an estate like that.

it's not even a good investment.
investments make money, that estate is costing Tyler Perry money every single day.

This was a very, very, very smart investment for Tyler Perry and it will net him at least $20MM over the course of 5 years. Let me explain.

Typically, when developing a home or building, 1/5th(20%) of the operating budget is used to purchase the raw land. Assuming TP keeps in line with this ratio, his home will cost around (give or take soft costs such as appraisals, environmental, architecture, legal, accounting, etc..) $38MM($7.6MM/.20) to build...that's including the $7.6MM he used to purchase the land.

The property was worth $55MM in a decent market but Tyler was able to purchase this property for such a discount because of the following:

1. We are in a recession and a lot of people are not buying homes that large

2. He made an all cash offer which allowed his offer to take precedent over all the other offers that were contingent upon financing

3. The owner was very motivated to sell (He probably wanted to stop paying the $1MM per year it costs to run the place)

Now Tyler Perry has built a home for around 40MM that was once worth $60MM. I'm also going to assume that Tyler Perry's home will have a lot more amenities than the old home and his new house will have that one intangible item: "appreciation by celebrity status" - the perceived increase in value because someone who is famous lived here. When the economy turns around and it will in the next couple of years, TP's house will be worth at least $60MM - $65MM...netting him $20 - $25MM in equity. This is a great investment for your personal residence.

With all that said he will still end up paying about $500,000 to $1MM a year to run the place.
 
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People rarely make big money turning around real estate on that level. You jaw to consider what it'll cost perry to tear down the current house, then clear it out, and finally rebuild.

Then there'll be the cost of maintaining it. So if he breaks even he'd be good. The money is in fixing bad land - not tearing dream homes down to rebuild completely.

With that said, perry's got the money- so he can do whatever he wants.

But don't think he's buying for 7 and will make a profit of 60-70 mil on it.

He's not going to make a 60-70MM profit on the land...the property will be worth at least 60MM and possibly 75MM when the market turns around. He will net at least 20MM in equity over the couple of years when the economy recovers.
 
It is really tacky...
www.deangardens.com
malachite.jpg

But I dont see why he has to tear it down. The overall floorplan looks straight.

In any case, While I hate his product...I love to see my people get money sonuff props...
 
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