All Forum Posts by: Jim Thomas

We have a vacant lot in Atlanta and have confirmed it is zoned for the construction of a duplex. Does anyone have an opinion on building right now in Atlanta during this current economic climate?

We have learned from our many years of experience managing projects that building a 2nd floor on top of an existing structure accomplishes more profit than building from ground up. There are minimal foundation and structural costs when adding a 2nd floor. The front elevation (curb appeal) can also be enhanced by adding a 2nd floor, if you have the right design.

We are experienced with accomplishing the designs needed to be approved by Atlanta and the surrounding municipalities. We have also successfully built and remodeled many properties in the Atlanta metro area. Architectural, legal, construction, and stabilization (finding renters) is our expertise. Converting single-family to multi-family can also be accomplished through a re-zoning process in which we are experienced.

Let me know if you would like to get involved with acquiring and improving properties for the purpose of long-term rental cash flow.

Whether it is a simple Purchase and Sale agreement or a complex re-zoning and permitting process, we have the experience that can resolve any issue. The City of Atlanta often has drawn-out processes that we are used to handling for our clients. Proactive preparation helps avoid future problems that cause delays. Contact me with your disputes and problems so we can offer a solution. Better yet, contact me before you acquire the property so we can make sure you have everything covered. Avoid a nightmare by using the experts.

- Contractor Disputes & Contract Administration

- Buyer and Seller Disputes & Litigation

- Lien Releases & Filings

- Renter Evictions & Collections

- Deed Corrections

- Complex Financing & Closings

- Debt & Equity Strategy & Agreements

- Escrow Management & Distributions

- REIT Formation & Representation

Project 80% complete, migrating out of hard money into permanent debt structure, seeking non-recourse loan to fund the final leg of work and repay HML in one go. Please let me know your points and terms.

@Alyssa K. You can offer a gift certificate to somewhere cool if they sign lease ASAP. That way you don't lower the rent price, but you offer an incentive.

@Matt J. Yes, but make them pay 2 month's deposit. Also check their past work and rental references. They should have 2 month's worth of rent in the bank in addition to 2 month's security deposit plus first month's rent. That is 5 months of rent in the bank plus good references.

@Kellen Canfield If you did not specify horizontal in agreement or send him a pic of what you wanted, you can't hold the contractor responsible.

@Greg Grant Sweet! You are adding equity then you will be adding income. A perfect plan as long as you don't spend too much.

@Steven Smith Sounds like you are buying to live there and have income to offset that cost. Normally, the only reason to invest in any asset is to make money. It cashflows or it increases in value until you sell or refinance. Don't buy it unless you get it below market value.

@Hilary Stalder It may not be a foundation issue. It may be a sinkhole issue.