All Forum Posts by: Ivan A.

Amazing, congrats!

@Rahib Karim I don't know the answer, but I asked myself the same question of should I just be a straight investor or an agent for the advantage of saving commissions and seeing listings before anyone else.

I asked my friend who is an agent and he said he wouldn't recommend it because any access I need can be provided through him, and he does generate comps/listings I need in a timely manner. Plus most deals are not on MLS, I have to retrieve them myself through marketing and then ask him for comps.

The other hand to that is the reality that agents may need to follow ethical codes that are unnecessary as a straight investor. For example, I told that same agent friend about a property I'm purchasing for 140 and will resell for 250 from a 75 year old gentleman.

The real estate board might think it's a matter of taking advantage of an old man. But to me, I'm just helping him move to Florida and retire. Plus I'm taking on all of the risk with holding the property, and paying for tens of thousands in repairs.

To help you potentially getting even further down your 5-10 year plan. I've been doing real estate full-time for 4 months now and I'm now questioning how technical I want to get with this business. Should I go down the path of:
1. real estate builder/developer that goes from residential to commercial, to big *** buildings OR
2. entrepreneur where I scale this business and move onto the next?

I'm quite conflicted on the fork. Good luck with your current fork. Whatever decision you make, I advise not getting caught in analysis paralysis.

David,

I invested in a local set of warehouses that converted the wide ranging spaces into commercial artists studios. It wasn't residential but can become such. The biggest considerations when I added 6 bathrooms in there:
-Check if the electrical is up to snuff and will distribute to current code across many residential units, as opposed to when it was used as a factory under limited circumstances. You might need an extra expensive circuit breaker master panel, subpanels, and obviously a lot of wire routing.
-HVAC is going to cost tens of thousands if your warehouse has tall ceilings like most do due to the sheer amount of conditioned/heated air distribution and insulation considerations. The warehouse I invested in had 60 foot tall ceilings. You will need a professional that has done it before for maximum effectiveness.
-Look up what the warehouse was used for before. The warehouse I dealt with used to be a metallurgy factory that had a potential of seeping metals into the ground, luckily the owner got an exemption from having to dig up acres of concrete to see if it was going anywhere dangerous, it also helped that he upgraded his building to be as green as possible. And obviously he wasn't doing anything dumb like that.
-Speaking more on the point above I heard 2 horror stories of people who didn't do proper due diligence on warehouses that regretted it:
1. A friend of a friend purchased a 20 acre plot of fantastic land for $500,000 in a great location that should easily value for millions, and later came to find a lead factory sat right on top of it. The entire place is basically toxic and can never be used again and it's now basically impossible for him to resell
2. Another friend of a friend almost purchased a set of commercial buildings when he found out that a dry cleaner used to accomodate one of the buildings. Apparently back in the old days dry cleaners used to use extra toxic chemicals so that was risky too. Luckily he pulled out before closing but he did lose his earnest money. Better to lose a couple thousand than tens of thousands.

That's some of the experiences I recall from me or my peers. Hope it helps. I personally think it would be amazing to have residential lofts. There are several in Atlanta that exist and are doing mighty fine for themselves.

Do I need to know the technicals around construction in order to have a real estate empire or do you think focusing on the business side & delegating the technicals is sufficient?

I'm conflicted because 2 millionaires have given me advice to focus on 1 sole aspect of my business, and what draws my heart right now is flipping and I currently love it. But when I look at my 5 year outcome, I see myself as an investor of many different businesses managing top shelf individuals as I love seeing people grow more than houses grow. People's transformation gratifies me a lot more I think.

So now I'm stuck on if I'm going to focus on an a real estate business that scales, do I need to get all these educational courses that will show me commercial planning/management/technical (ie: developer/builder) skills or focus in on a higher level?

Looking forward to your advice,
Ivan

buyer here too 

[email protected]

@Damir Kamber I would be up for the challenge. Currently I'm mainly built to support 60 in the metro area but can scale up a team quickly. I have a contact who used to manage apartment complexes full-time  and said he'd be back in town soon who might could help too. Can you call me at 678-982-8854

@Robert Gilstrap we're registered under "The Pinnacle Properties Real Estate Group Llc"

@Damir Kamber I know how big of a headache managing tenants can be. I've been through disrespectful tenants, evicting tenants, badly screening tenants and just general tenant stress. And I've overcome it all the hard way.

Now I want to help others not have to go at it the hard way. It takes an incredible emotional toll to learn it all...And it was just me, I can't even imagine if a husband and wife owned rental property together and how it can divide them. Especially if 1 is more nurturing versus more business-minded.

Hello, my motivated seller website nabbed someone in Toledo. I only deal with Atlanta so I'm willing to hand him off for free. His reason for selling is literally "just want out" which sounds pretty motivated to me.

He did not provide his phone number, only email but has responded to those quickly. If you have the interest, I will give you the full address and email. I'm not putting it in this ad directly because I don't want his contact information public for him to get a barrage of emails and later shoot me a complaint.

Ivan
[email protected]
678-982-8854

We are licensed under a brokerage named Pinnacle Properties, just DBA as Atlantis to differentiate the businesses from prop mgmt to house sales.

I thought it was pretty standard to charge deposit amounts. I thought I've seen some companies charge 100% of deposits. Alrighty we'll just switch it to a flat on-board rate like first month's rent. Which ends up being about the same thing.

Thanks for your feedback.

@Brad Larsen please enlighten me, I thought partnering with a lawyer would be appealing to protect the investor from liabilities.