All Forum Posts by: Chad Carrodus

Echoing the sentiments of my colleagues above! What I've been most shocked about is how well the luxury market has been doing for turnkey, $2mm+ properties (especially with pools!)

As a buyer in the market, I would look for the ugliest and most outdated, but well maintained, homes. Basically looking for grandma's house. I've never been a huge fan of flipping as a strategy, but right now there are just SO many opportunities to make quick money. Especially since the market may not be as certain this time next year. 

Reason there is so many flip opportunities right now, is because the absolute last thing people want to do is renovate a house while they are also working from home, homeschooling, etc. 

Do you blame them?!?

With interest rates this low, buyers have more purchasing power, so they're willing to pay more for something they don't have to touch, but the payments are about the same.

Campbell & Brannon - John Hocutt

Have you gotten through DD? Was this on the disclosure?

Microsoft Corp. (Nasdaq: MSFT) purchased another 20 acres near Atlanta’s Bellwood Quarry as it continues assembling land for a new campus that could bring thousands of jobs and unprecedented investment to the city’s Westside.

Expanding its footprint: Microsoft bought undeveloped land just northeast of the Bankhead MARTA transit station near the Proctor Creek Trail and CSX railway. Microsoft paid about $22.5 million for the property, according to real estate deeds. In an email to Atlanta Business Chronicle, Microsoft declined comment about the expansion.

What it means: The property is also next to Quarry Yards, a pivotal development site next to the Bellwood Quarry that Microsoft purchased for $127 million last year. (Read more ) The tech giant now has about 90 acres near the quarry and within Grove Park, one of the city's poorest neighborhoods. It sets the stage for a project that could alter investment and development across the Westside for a generation.

Impact on Grove Park: “We are continuing to monitor the scale of this investment,” said Debra Edelson, executive director of the Grove Park Foundation. “We hope this indicates a coming partnership with the neighborhood." (Read more about efforts to revitalize Grove Park ) The Microsoft campus is also a catalyst for other projects that will transform other Westside neighborhoods, including Vine City and English Avenue. ()

Source: Atlanta Business Chronicle

$50k downpayment? Financing the rest? 

If you are looking for a $50k house..better to seek other options

Put a broker on a monthly retainer. Whatever is invested as a retainer, use as a credit against closing commission. Puts skin in the game for everyone. 

Keith Spain - BankSouth

Access to deal flow and off market opportunities

Hey Nick! Great choice. Very up and coming Westside/Upper Westside. Close to prominent areas, particularly West Buckhead and Vinings in addition to various attractions such as Mercedes Benz dome.

So in a general sense, yes it's a great area. HOWEVER, it really depends on what your strategy is and what your goals are. Appreciation?  Cash flow? A mix of both? Another major factor is your budget. 

Because of it being "ITP" (inside the perimeter) in addition to Fulton County, prices will be higher compared to say, North Cobb County/Cherokee County/Bartow County/etc.

Feel free to connect and I'd be happy to discuss further

I wouldn't replace it. Spend the money on cosmetic upgrades that people can visualize. Or even staging.