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All Forum Posts by: Cody Smith

Cody Smith has started 21 posts and replied 114 times.

Post: Did I just find a bucket of cash???

Cody Smith
Pro Member
Posted
  • Realtor
  • Panama City Beach, FL
  • Posts 122
  • Votes 63

Hello BP community! I have a not-so -quick question for you guys and gals. I am looking to move out of my current home into a new home and turn my current into my first rental property. I am looking at a home in the nearby area, and I believe I have some hidden value in the deal and I am looking for some clarification. The home is set to be listed on the market as being an 1876 sqft home with a sunroom that is 384 sqft. The sunroom is not included in the size by the agent, however, the room seems to meet all qualifications to be counted. It is natural to the rest of the home, shares the same roof, has similar flooring and is built to the same quality. It has at least one ceiling vent that I understand is connected to the rest of the central heat and air system. From the outside, you can't even really tell that it is an addition to the home. Would you consider this hidden value? If so, the area averages $112/sqft on recent sales, and the sunroom at that valuation would add roughly $40k to the value of the home! Am I missing something? Does this speculation make sense? Thank you!

--Cody

Post: West Ga/ West Metro Atlanta Real Estate Investors Zoom Meet Up

Cody Smith
Pro Member
Posted
  • Realtor
  • Panama City Beach, FL
  • Posts 122
  • Votes 63

@Byron Scott I’ll be there!

Post: West Ga/ West Metro Atlanta Real Estate Investors Zoom Meet Up

Cody Smith
Pro Member
Posted
  • Realtor
  • Panama City Beach, FL
  • Posts 122
  • Votes 63

@Byron Scott

What’s up fellas, unfortunately it doesn’t look like I’ll be able to make the meet up tonight. Turns out I have a last minute dinner with the wife and friends. Hopefully we can get together again soon. Let me know when you guys will be available again.

-Cody

Post: Invest now with debt, or invest later debt free?

Cody Smith
Pro Member
Posted
  • Realtor
  • Panama City Beach, FL
  • Posts 122
  • Votes 63

@Michael Duguet I definitely plan on hacking a multifamily sometime in the future. Unfortunately, the options aren’t too incredible where I currently live. At least not good enough to leave my current home and subject my family to a lower class neighborhood in the event I have to leave for work. Hopefully I can gain that position when we relocate. And what a great price range for your multifamilies! Thank you.

Post: Invest now with debt, or invest later debt free?

Cody Smith
Pro Member
Posted
  • Realtor
  • Panama City Beach, FL
  • Posts 122
  • Votes 63

@Eric Del Gizzo you’re very right, either direction is a step forward. Hopefully we both end up at great positions in the end! Thank you

Post: Invest now with debt, or invest later debt free?

Cody Smith
Pro Member
Posted
  • Realtor
  • Panama City Beach, FL
  • Posts 122
  • Votes 63

@Sharon Foster thank you for the reply! Maybe I should seek a financial planner, trying to learn everything as you go while making decisions could lead to missed opportunities. Great point!

Post: Invest now with debt, or invest later debt free?

Cody Smith
Pro Member
Posted
  • Realtor
  • Panama City Beach, FL
  • Posts 122
  • Votes 63

@Jingru Sui thank you for the reply! You're the first one to bring up how my DTI ratio will be affected. Very great point!

Post: Invest now with debt, or invest later debt free?

Cody Smith
Pro Member
Posted
  • Realtor
  • Panama City Beach, FL
  • Posts 122
  • Votes 63

@Kris Mann incredible response. Thank you for the advice. Your mention of having to understand my current situation as compared to the situations and subsequently, developed opinions of others definitely varies across gained experience and personal situations. Thank you for the great pointers.

Post: Is the Atlanta market good

Cody Smith
Pro Member
Posted
  • Realtor
  • Panama City Beach, FL
  • Posts 122
  • Votes 63

@Jingru Sui Awesome! Thank you!

Post: Is the Atlanta market good

Cody Smith
Pro Member
Posted
  • Realtor
  • Panama City Beach, FL
  • Posts 122
  • Votes 63

@Jingru Sui Would you be willing to provide info on the other 4 properties you mentioned?