Newbie Investor Seeking Atlanta Contractor Recommendations

[David Begley]

I am preparing to make a couple of offers on wholesale rehab/flip or rehab/rent properties in the West End and College Park areas of Atlanta. I am seeking to interview a few General Contractors willing to hand hold a newbie through my first rehab/flip and one that has the ability to look at a potential property and make suggestions when asked to make recommendations and proposals for a $50,000 budget, for example. In other words, one that can size up my budget and assist in making the best choices for rehab to ensure highest return. Not asking much, am I?

I would appreciate any suggestions, along with any of these types who may also wish to be a partner for an equity split in net profits.

Thanks!

[Rick Baggenstoss]

Hi David -

@Aaron McGinnis is a good contractor, especially for newbies. He'll teach you a lot (as an investor/contractor). He did my house in the West End.

I can size up your budget for you. A good rehab house in Historic West End should cost about $40k - $50k for a 1920s 1700sf, 3BR/1BA. $60k- $100k to rehab and take 5-6 months to complete. ARV of $175k - $190k.

Buyers in the West End are typically getting down payment assistance so it will likely take 90 days to close and 60 days to go under contract, so from close-to-close, it's a longer cycle.

Thanks,

Rick