All Forum Posts by: Cameron Turley

Hi all, 

Background:

First time home buyer seeking some advice here. I recently bought a big value add property (FHA) in metro Atlanta that I am planning on doing a live-in BRRRR in. It is a ranch with 2400 unfinished sqft in the basement that I plan on renting out once it is finished. I'll have to take out a private money loan to finish it, and would like to get it done sooner rather than later to reduce the mortgage payment and boost the value of the home when I refinance.

We're 3 months into owning the home, and have had a bad storm where a large branch fell and ripped out the overhead power line from our attic. In the process of repairing it, we've been told that the meter isn't up to code and it might be beneficial to update everything while we're at it. Some electricians are saying that when they turn the power off to repair the existing power line, they may require me to get it up to code anyways before they turn it on.

Here's my question: 

Would it make sense to go ahead and update the electricity and bury it, or focus on more ROI based updates in the home (add a half bath, etc)? I'll have to upgrade my electricity when I finish the basement anyways (panel and meter), so I'm considering doing it now. We're realistically probably 6-8 months away from finishing the basement, so I'm not in a huge rush to do so, and I currently have someone renting out an upstairs room for 1,000 a month.

Any advice here would be helpful. Also, if there are any investors in the Atlanta market that would like to connect, I'd love to meet you. I have a very unique property in Sandy Springs, and would love to pick your brain on ways I can maximize this investment. 

Thanks all, 

Cam

Hey all, is anyone currently house hacking in Atlanta, GA? Looking to do this strategy as I'm a first time home buyer and thought it'd be the best way to learn the ways of being a land lord. A couple main questions here:

1. How did you find your property? There are some on market now that could work for what I'll try to do medium term rental wise (in law suite/basement), but there's isn't a bunch. I'd like to have the option to some off market ones, but I'm not too experienced with how I'll have to do that since I'm not a cash buyer. Is it impossible to team up with a wholesaler who could find you a deal that you could finance? I know it kind of goes against their whole model, but just curious. 

2. Is anyone doing medium term currently around the Sandy Springs/Marietta area? Would love to connect and learn the ups and downs of it. 

I'd appreciate any help or guidance. Thanks all!

Hi all, 

Been listening to and reading BiggerPockets for about a year now. I've been working over that year and have about 50k saved up for my first investment, and have been waiting around for the right opportunity, along with deciding on what market I think I'll be in with my wife beginning her job post-grad school. I'm thinking right now that we'll be in Canton, GA for her job, so that is likely where I'll buy my first house. I've read a little bit about it, and it seems like it could be a decent market with remote work becoming more prominent and so many jobs coming to Atlanta. 

The questions I have now are these. If we'll likely be moving to Canton around the July - August time frame, should my focus be to find a house there that I could ideally BRRRR and house hack move with an FHA loan, or are there other things I can do before I have to do this later in the year? I'm really just trying to maximize the amount I have now and create some momentum, but I'm unsure on how to do so. In some of the podcasts, I've heard to try to get into the nicest neighborhood in your market right now, but since I'm not able to live too far away from Canton, I don't think it's feasible that we'll be living close to Atlanta where a lot of developing and growth is going on.

Also, does anyone have any insight to buying properties off market? I know that I can just connect with a wholesaler in my market, but is there anything other than just reaching out and finding one that I should do? It's looking like I'll have to find one off-market to find a good deal, regardless of my strategy, but I'm open to any advice. I've also never gone to the courthouse to see available foreclosed properties. Does this still work?

Looking forward to reading any of the replies. Would also love to connect in person if anyone here in ATL would like to! I graduated from Georgia Tech last summer and played baseball there as well! Thanks in advance!

-Cam