Atlanta Help BRRRR, GC, REALTOR and PROP MGMT

[Iqbal Ahmed]

Hi Folks,

My parents have owned property in NYC. I don't think I have that opportunity to put my hands on a Million dollar multi family just yet.

I have been looking into the atlanta market to do a BRRRR, all numbers made sense until after I realized that doing the REFI Cash out will increase mortgage payment, to where its negative cash flow. I dont want to liquidate my stock portfolio which ill have to pay almost 24-32% tax on for something as small as 50-100 cash flow.( any tips on how to avoid heavy taxes is helpful )

House needs full rehab, average arv is about 300K

whats is a rough estimate for a full house rehab? (walls, kitchen, flooring, bathroom etc for a 1200 sq ft home.) this will help determine how much I should be all in for.

Is it safe to buy a house with half rehab done on it? why would the last investor bail?

In need of property managers, realtors, and GC in atlanta area. any suggestions would be great thank you bigger pockets Community.

[Duane Alexander]

Originally posted by @Iqbal Ahmed:

Hi Folks,

My parents have owned property in NYC. I don't think I have that opportunity to put my hands on a Million dollar multi family just yet.

I have been looking into the atlanta market to do a BRRRR, all numbers made sense until after I realized that doing the REFI Cash out will increase mortgage payment, to where its negative cash flow. I dont want to liquidate my stock portfolio which ill have to pay almost 24-32% tax on for something as small as 50-100 cash flow.( any tips on how to avoid heavy taxes is helpful )

House needs full rehab, average arv is about 300K

whats is a rough estimate for a full house rehab? (walls, kitchen, flooring, bathroom etc for a 1200 sq ft home.) this will help determine how much I should be all in for.

Is it safe to buy a house with half rehab done on it? why would the last investor bail?

In need of property managers, realtors, and GC in atlanta area. any suggestions would be great thank you bigger pockets Community.

What you don’t make in cash flow you will make in appreciation and you will get all your money back so you can buy another property while having a tenant pay your mortgage. Make sure you consider all expenses, vacancy and prop management if you haven’t. That could eat into your cash flow. A full gut rehab can cost you anywhere between $75-85 a sqft here in Atlanta. It will depend on your GC and your finishes. Add 10-15% for any surprises