All Forum Posts by: Amanda Swanson

Hi all - I currently have 2 STRs, looking at numbers and trying to narrow down a FL/AL beach location for the third. Is there any where in FL where the numbers still make sense to buy? Thanks for any insight.

Having some issues finding a contractor to rehab an out-of-state rental we have in Atlanta, GA. We need someone ASAP, can anyone refer me to someone who can help? 

Thanks!

I am looking for recommendations for a good GC in Atlanta to help with a project we have going on there. Any recommendations would be appreciated.

We are currently working on a partnership opportunity for a quad. The person we are trying to partner with found the property and needs capital to BRRRR it. We offered the capital in exchange for 30% stake in the property. The individual agreed and sent us a poorly written JV agreement that my lawyer said not to sign. He then sent us a generic operating agreement that my lawyer also advised was not a good document to sign. My lawyer is willing to draft the documents but that would be a cost to us. What is customary here? The individual doesn't want to spend money to have proper documents drafted and my lawyer says it will cost more to review the generic one online and add the necessary provisions than to draft one. But if he drafts it and the other person does not agree that is money wasted. Looking for some thoughts on this and lessons learned as this is the first time I am trying to partner on a rental.

Thanks everyone for the advice. I contacted the existing PM and discussed keeping them on. They did not seem to have any sort of written agreement on fee and what they would provide, which concerned me. She indicated that she didn't work weekends or holidays and wanted roughly 12%, which I was able to negotiate verbally back down to 10%. I will probably shop for a new property manager, unless the BP community thinks this is normal business practices. It just seemed like the easy button to use the existing PM, but the conversation didn't sit right with me. Any recommendations on a good PM would be appreciated.

As far as entering the property, the existing lease says:

"Right of Access: Lessor may enter the property without notice to lessee for inspection and maintenance during reasonable hours. in case of emeragency, lessor may enter at any time. During the 60 day occupancy, lessor may place a sign on the premises and/or may install a lock-box and show the property during reasonable hours. Lessor will attempt to notify less, but has obligation to do so."

Also, the lease ends in February, but I wanted to get some advice since I was planning on doing a BRRR for this one. The exterior needs to be resided and painted, as well as generally cleaned up. Should I go ahead and have the home resided while the existing tenants are in there, or wait until the lease runs out and then move forward with it once the existing tenants leave?

Thanks!

I am taking over a lease through a wholesale transaction that is out of state. It's my first rental property and I am looking for advice on the best way to notify the tenants where to send the rent and letting know that I now own the home. We also plan on renovating the property in February and cycling tenants and need to gain access to the property to get quotes from contractors. Any advice would be appreciated on how to handle communications of these items. The property is located in Atlanta, GA.

Thanks!

Same! We are in Weddington and would definitely be interested in doing a meetup this month.