All Forum Posts by: Iris Burrows

Hey everyone, 

I'm looking to get quotes from some cleaning service providers  for a vacant home getting ready to be listed in Jonesboro.  

It's a 3000 sqft property, 4 bedrooms,  3 full baths.   

So far I haven't found anyone that covers the area. Thanks for your recommendations. 

Hey, I haven't invested in Clayton county, but I do have a SFH listed in Jonesboro and the neighborhoods there are more stable with lower crime rates. That may be a good pocket to check out as well.

Thank you. That makes sense. 

Hello BP Community!

I am a brand new agent, have some experience in and around the industry, but I just have to throw this idea out before sharing with my clients.

They have been approved for a healthy conventional loan, 3% down, but the house they want is at the top of their price range. The market in Atlanta is a little inflated right now, so everything will cost a lot, but they don't want to max out on their budget in case anything goes wrong...which...Murphy's Law. 

I told them about some of the Down Payment Programs and they would qualify for at least 5 of them. Only thing is, they would have to go through a different lender, because their existing lender has no affiliation whatsoever with any of the programs. 

Would it make sense for them to change lenders? Would it be in their best interest to wait on the Down Payment Programs to approve them and for them to go through that process, even though there is a home they want right now?

Looking for another perspective. Thank you!

Iris

Hello, I wanted to connect with a probate professional (possibly in Atlanta) about a property that may be of interest.

1) I'm not attempting to market/sell this deal. At this point, I think the property has potential, but I'm not fully equipped or educated to handle it. 

2) I would be interested in observing how this property goes from a problem to a profit, if it is actually profitable.

3) Please message me if you would like details. I have built a report with the heir, so I'd prefer to introduce whomever is more qualified to help this person.

Iris

Hi BP Community,

I'm seeking any other ideas on who to sell some land I have under contract. 

I followed the advice from a previous forum and other resources to help me figure the price of the land and what homes would go for in the neighborhood. I checked the property records for zoning and I know the land used to have a home and a business on the lots, so I "assume" there is existing sewage. 

I've marketed the lots to a couple developers in the area (one on the same street), my buyers list, craigslist, my network. I've gotten a little interest, but no one solid. In fact, they eventually "change their minds." 

I've lowered my fee drastically. I assume, this being my first land deal, I could have overpriced it. But still no action. 

What am I missing? 

Some of the feedback I've received:

Too far down the street (corner lot)

Close the the railroad tracks (across the street)

The second lot is too narrow (side by side lots, single owner)

Not a great neighborhood (homes are going for 2's & 3's so I don't get it really)

Not their ideal location (preferences outside the city, Fulton county or OTP)

No one has said the price was too high.

Any insight I would greatly appreciate! 

Thanks,

Iris

Your advice has been invaluable!

Actually, it's added plenty of value. I've hit the ground running since reading your feedback and I'm making some really good headway. 

The other lots in the neighborhood have sold for a lot more than I anticipated and for a smaller lot than what my seller has. 

This deal is mine for the taking! Thank you @Bill S @Bill Exeter and @Terry Evans 

Thank you so much.

Hello BP community,

I have a seller who has almost a third of an acre of land in a good neighborhood in Atlanta. New builds are in the process of getting permitted right now on the same street. 

I've never wholesaled land before, and I have no idea what to offer this seller, let alone, what would be a great price for the buyer. 

Also, do you think the best buyer would be the developer of the new homes going up? 

Any insight, I would greatly appreciate!

Thank you,

Iris

Hey everyone,

I came across an opportunity that I'm not sure if I should spend a lot of time on. Someone wants to sell me their land because the home burned and was demolished. I was unaware of this when I sent the letter and being new to rei, I've only learned to analyze homes. How do I know I can offer the owner a fair amount and it still be a good deal for me too?

No problem @RandallKates. The Atlanta market....plenty of people are making money out here. Apparently the city is flooded with wholesalers, what with easy entry into the industry, it makes for an attractive starting point. But many investors are going out and finding their own deals and buying at wholesale price. And then there are those wholesalers that really don't know how to price a property and everyone thinks they can make $10k off every deal. So, I think, there is plenty of competition out here as the market is recovering, but also, opportunity to do well.