All Forum Posts by: Brian Hartman

Running in to issue with a fix and flip and need to pivot from the GC we planned to use and now need an electrician. Any references / recommendations would be helpful!

Thanks in advance

-BH

Looking for GC's in the Atlanta area for SFH projects (full gut, additions, etc.).

Thanks in advance for referrals!

I have not reached out yet but that is my next stop.  Thank you to everyone for the help.

Thank you both for your quick reply.

I could convert back to SFR and it would be an average cash flowing deal. Unfortunately, we renovated all the units and rented them prior to finding out that it was zoned SFR.

The lender that I was trying to use was DSCR and knew the situation well. I would love any referral to local DSCR lenders that might take experience and the cash flow of this property into consideration. I think the hang up is that if something happened it would not be able to be rebuilt as a 3 unit, however a new single family home of similar size would sell for $300Kish.

I don't even care so much about pulling all the money I have in to the project out, just enough to where the cash on cash return isn't awful.

I made a mistake!

My wife and I recently purchased our first small multifamily property which is our 5th rental real estate purchase in the past four years. The property seemed to match all of our criteria and gross rents are $3,200/month on a $225,000 total investment. We really want to hold onto this property, but when we went to refinance we are finding out that the property was actually zoned SFR although it has operated as a triplex for 20+ years from what I have gathered. Now the lender I love working with says this is going to be a hard stop for anyone lending long term on the property. I have checked with the local city zoning and they have said there is no way it would pass through the zoning committee as a multifamily property.

I am posting this for two reasons.

1.  To try to make sure no one makes the same mistake I did in the future

2.  If anyone has any ideas on how I can refinance this property and pull my cash out.

Thank you for any help that you can provide!

Hi everyone,

We are under contract on a house in City of Atlanta. It is a home right next to the Beltline, and it appears that it once had two structures on the lot. Could anyone refer me to someone that is familiar with how to subdivide lots? All other homes appear to have 55’ of road frontage and ours has 115’ and two driveways. We would love any advice you can give us.

@Kevin Polite we have also had great success with Zillow. New $9.99 per week charge unfortunately.

@Salvatore Lentini thank you very much for your feedback.

I have started a pretty aggressive DM campaign trying to find my next deal.  I anticipate having more come in than I can handle and was wondering if anyone knew a great resource on wholesaling just in case I can't handle the project or secure funding on multiple projects.  Thank you in advance for your advice.

I have a 30 year note with a 7% interest rate for a couple that has not refinanced in the past 17 years with low rates available everywhere. We are in Georgia and are aware that they are going through a divorce. The home has probably doubled in value since 2003. They are saying that due to COVID 19 they need 5 months relief from payments. At first it was just a month, then 3 months, now 5 months. Does anyone know what legal course of action I can take to ensure they don’t just wind up squatting in the house without making payments anymore? Thanks for the help.