All Forum Posts by: Harrison Ojimma

Hey guys I'm flipping a house in Atlanta GA. Looking to find a good place to buy doors and windows for good price.

Also a great flooring and Carpet company would be awesome too. Thanks in advance

@Jingru Sui thank you so much for your insight. Much appreciated

@Lucas Carl what would be your suggestion or course of action?

I have qualified for an FHA loan pre approved for $250000. I don't know which route I should go. Should I buy a duplex in a nice city outside Atlanta or should I buy a newly renovated house in Atlanta to use as an AirBNB. I know the AirBNB property would generate more income on a monthly basis but it fluctuates. I like the stability of the duplex income but I want to make as much money as possible. What would you guys do? Which route would you take?

@David McLean good question....I don't know much about the property prior to this owner taking control of it 5 years ago.

@Gaspare U. Thank you for taking the time to read and respond. I'm about an hour from the apartments. I would hire a property manager. And you're right, I need 3 more contractor estimates. The rehab is a big area of concern because of all the unknowns once things get started.

What's the most important thing you consider when first doing due diligence on a multifamily property?

@Christian Nachtrieb yes. And also I called realtors to know the cap rate of the market

@Greg Dickerson thank you so much for taking the time to respond. You're absolutely right that the operating expenses could reach as high as 60%. It'll also be a lengthy process to get these properties renovated. 12-15 months even. Thanks again

So to you. This would be a NO DEAL?....what about renegotiating price down, would you consider it then?