First Flip in ATL Area

[Parker Bryant]

Hey everyone, I'm looking to do my first flip with my brother in the upcoming months. I'm interested in the Atlanta area, or any suburbs nearby. I'm looking for any GC recommendations in the area, as well as any Hard Money Lenders who would be willing to lend on someone's first deal. Any other insight/advice is very much appreciated. If there are any flipping/real estate investment experts in the area, I'd love to connect. Thank you all in advance.

[Brenden Mitchum]

Hey @Parker Bryant, welcome to the BP community!

Be forewarned: Flipping in Atlanta is no simple task. Just about anything from a wholesaler or on the market will have little to no spread. What seems to have a spread either doesn't really or will be gone for all cash before you can blink. So, you're off to the right start - get your ducks in a row before you jump in. This will allow you to move quick when an opportunity does arise. I would even recommend starting a direct to seller marketing campaign for your deals. This will be a great way to find a decent first deal and you can wholesale the deals that don't work for you. 

You will have a very tough time finding a reliable GC with enough availability to get your project done on time and on budget. You might want to consider taking on the role of GC yourself and subbing out the work. I know that sounds scary but you'd likely be spending your time more wisely. That being said, it still doesn't hurt to ask some local investors, but make sure they've used the GC recently and ask for the GC's license and insurance + references. Personally, I don't care if they are licensed but I still ask because I've been given fake license numbers before that don't register in the system - easy way to find out if someone is honest.

When it comes to hard money lenders, there are plenty that lend to beginners. A good place to start your search is right here on BP. That's where I started back when I was thinking about flipping here in ATL. I talked to a few from that list and really liked one. I won't share their name here because I never actually closed a deal with them. You can expect to pay a little more for being a new investor when it comes to rate and points, but as long as it's a good deal, you shouldn't have any issue getting the funding.

Hope this helps a bit - please, feel free to reach out anytime if you have other questions or just want to chat about the ATL market!