All Forum Posts by: Emmett Hawkins

I am looking to purchase a SFH, condo or townhome in the Brookhaven/Lakeside HS area to use as a non owner occupied short term rental asset. I am looking for an agent that can help me find a good deal that will not be a problem to use as a short term rental.

I have watched this thread for a while.  I hear about gobundance from one of the biggerpockets podcasts.    It is a new year and I am considering joining a mastermind group like this.  Before jumping in, I would love to hear more about people's experiences (good and bad) after they have been in the program for a while.  Did you keep momentum or did the progress fizzle out?  How do you go about being matched with a group of people that you gel with?

Please let me know if you are willing to share your experience.

Thanks!

Following.  I have been wondering the same.  What is a good cost/sq ft guide for multifamily in this market or is there some other metric?

I had the opportunity to pickup a condo in the area for a good price. The owner is moving to a retirement home and did not want to bother with listing her property. My Brother-in-Law told her I would be interested in buying it from her. Once I was able to confirm that the HOA would allow me to rent it, i locked it in.

I have a couple other SF Homes that I rent to a single tenant or family.  This unit is a nice 3 bedroom 2 bath unit that is pretty spacious for this part of Atlanta.  I had heard some the of the bigger pockets podcasts about renting by the room and thought this may be a good property to try that on.  

Here are some of my questions for rent by the room:

How long of a lease is ideal per room?

Do I need to furnish the common areas, or let the tenants bring their own stuff?  If so, how to a pick furnishing that wont get trashed by renters?  

Should I keep the utilities and bill the tenants or have one of the tenants have the utilities in their name and collect from the other tenants?

Where is the best place to find tenants?

What should I look out for when screening tenants to minimize drama?

Thanks in advance for your advice...

Right now I am looking at 5.75% on a 80% LTV property scheduled to close next month. It will be the one with the lowest LTV ratio the others are 60% or better. The other properties have slightly higher rates hovering around 6%. Is 5.75% about as good as it gets for a non owner occupied property right now?

I have a few SF rentals in Georgia and Tennessee with more than 25% equity in each.  Now that I have decent equity, I would like to lower the interest payments to improve cash flow.  I am interested to know what type of interest rates are available with both conventional and portfolio lending.  Further I would love some recommendations of lenders (conventional and portfolio) or private money lenders that work with buy and hold investors. 

Anyone have a high quality flooring contractor in Memphis they can recommend?  After having some plumbing repaired, I need to replaced laminate wood flooring while the tenants are still in the house.

Hello BP Memphis,

My tenants reported water coming form the foundation and a slow draining sink recently.  Plumbers put a camera down the line and said that the cast iron drain has collapsed somewhere in the middle of the house and that they need to excavate through the foundation to repair the line digging up multiple rooms $$$$.  This exact repair was completed by the same plumber 8 years ago.  

I have some questions:

How long should a repair like this last?

Should I seek legal help for pressuring the original contractor into covering the repeat repair or just suck it up?

Should insurance cover this?  (Different insurance company covered most of it last time)

Do you know any cost effective plumbers that could re-route the line or insert a sleeve without destroying the floors or most of the floors?

I have a small landlord tenant dispute that I am looking for legal guidance on.  Can anyone recommend a local attorney that handles landlord tenant disputes?

@Russell Brazil It is just my take on the area.