All Forum Posts by: Joshua Jarvis

With new construction you're able to break out of the market slightly and be compared to new construction.  In Atlanta, I'm more concerned with appraisal values then I am finding a buyer willing to pay fair market.    Although I found the 2nd part of Michaela's post confusing, the first part makes sense to me.  What's New construction going to sell for vs rehabbed and run the budgets on both of those.   New Construction is going to take longer too, so keep that in the budget as well.  Good luck! 

The best way to find deals is to network, you can look on here and make a few connections, once your goals are crystal clear you'll find that there are folks that specialize in certain areas and types of homes.  Don't be afraid to reach out call people.  Add yourself to their lists and see what's going on. 

If you need to get a good contract you can go to Home Depot or Lowes and get there at 6AM.  See who's picking up stuff for their job and approach them.   If you go later then that it'll be indicative of their work ethic. 

Atlanta has different "zones" as well.  For example, if you're doing a low end home in west Atlanta, don't call the quality "church" referral contractor from Alpharetta... and vice versa.

That's helpful,  was wondering if there was a good alternative to infusionsoft or was that just overkill. 

I wanted to find out what some of you more seasoned tech savvy investors are using to get the word out about your properties.

I'm pretty tech savvy and am not scared of any set up requiring programming or otherwise.

@Sam Hadad many great posts here.  As an agent and now an investor there was definitely a learning curve to be able to use an "investor" lens on properties.  The agent can make or break your deal.  If you're lucky enough to find a great wholesaler you might avoid an agent.  If you're looking to flip, then the question is how will you get the highest retail price? 

Your title is a bit misleading. I'd hate to think you think the agents are greedy and that's why you're missing the homes.  There's certainly a few bad apples, but there's some great investor friendly agents out there that could change your game for sure!  

@Sam Hadad - If anything real estate agents and other investors/wholesalers, etc are used to out of state buyers.  I'd venture to say that's the majority. 

"and I even look at the views on that house "  -  I'm not even sure what that means, what website are you looking at.  If it's on Z for instance, you most certainly are not the first one that's seen it.

A few things to check. 

1. The market is hot, so if you see it online it's probably too late. {it's become a joke in our office}  
2. Most of my deals are off market.
3. The best deals are "known" and gone in 48 hours, some last longer, but rarely long enough for you to "get familiar with the area."
4. When you make offers, make sure you have proof of funds, articles for your llc and make the offer clean, the shorter the contract the better in many cases.

That's exactly what I did.  Another investor suggested getting an appraisal, which sounds like a good plan. 

I'm finding some great opportunities but a number of them have very low end comparable homes that all need rehab with no flip or renovated comparables. E

Ex.  $50K comparables that all need rehab, opportunity home is for sale for $20K nothing for sale in a mile radius for more then $65K.   Do you run with 65 or is there another number that might work?  

I know what as a Real Estate Agent I'm supposed to say, but curious what you are ACTUALLY doing in this scenario. 

Victor,

Welcome!  I'm in Gwinnett county as well. 

Most of the advice here is "on point."  I think the 50/50 split is a good start.  Keep in mind that if the home is listed, then a Realtor would make 2 to 3% and if he sells the home then a good question is he going to charge you a commission?  To me (also a realtor/investor) the commission is in the deal on a 50/50 deal.  That means when we retail it out I'm not taking a commission, I'm splitting the profits.  On the buy side I may get a commission but that goes into "the pot."

In terms of evaluating a deal, I really hate "BP" posts that suggest there is a formula. If you're only making 10% on a deal but the deal itself is lower risk or have other intangibles that you might want then it's not a bad deal. What I do agree with is setting up minimums so you have boundaries. It could be 20K profit and 10% Gross ROI or 20% etc.

In Gwinnett and more desirable areas the margins are smaller but so is the overall rehab challenge, it's also easier to retail the property vs Atlanta where you might have more rehab challenge, etc.    Risk vs Reward.  Would take 10% all day long if the deal is easy.