All Forum Posts by: John Robinson

Good afternoon everyone,

I currently have a home under contract and I am using a 203k loan to purchase and renovate the property. I am looking for an insurance company to cover the home during renovations but every one I've spoken to so far has said no. 

Does the anyone know of an insurer that would cover the 4-6 months of renovations before the home is habitable. I am looking primarily in the Southeast, preferably in Ga. Thanks.

Sam, that's the kind of information I was looking for. My goal was to rent it out as Section 8, since I have some experience in that area. 

If you don't mind me asking, how long have you been renting there? Are you looking to purchase more? What's the most significant issue you have there?

Thanks for the reply Randy. Are you looking for more single family or multi? Are you considering rehabs? I ask because it seems like the multifamily market for renovations is there, you just have to be willing to spend the money on rehab. Do you think prices in the area are too high for multifamily rehabs to be profitable? 

Good evening investors,

I've seen a few posts here about the Vine City and Grove Park areas. The area is clearly questionable, but it's hard to deny the obvious progress surrounding it. There are tons of apartments in the area and I would like to hear from some of the people who are investing there. 

What are some issues you face? What size units are you renting? Is the cash flow worth the "challenges"? Are you interested in continuing to invest there or are you looking to sell? I appreciate all your input.

I currently own a townhouse on the border of Midtown and Buckhead near Piedmont Hospital. I have been using the property as Airbnb for over a year now and aside from one reckless guest I haven't had any issues with them. 

On average I get between $100-$300 cash flow a month but it varies due to events and time of year. For example, the Super Bowl was extremely lucrative, as well as the hotter months. But that gain is offset by the rest of the year when the average daily price is lower. I've found that daily price is heavily dependent on location and time of year. So to alleviate that, I was sure to purchase a property in a location that would always be in high to moderate demand. So far I've been right in that analysis, but I bought the property WITH the intention of using it as an AirBnB. 

I think the two biggest factors you should consider are location and HOA. My HOA was an issue in the first few months because they felt I was violating our community guidance. I had to hire and attorney to arbitrate the issue on my behalf, but after that they let it go and I haven't had an issue since. Your HOA and its guidelines will be your biggest hurdle, so if you have not already purchased the property, you should be sure to review the guidelines thoroughly beforehand.

As far as location goes, keep in mind why and who is using AirBnB. Most, but not all, of my guests have been between 25-35 years old. The majority are coming for an event in the city and want to be close. You can get to most places with a $10 Uber from my place, and I know that is a big factor in the current success of the property. I would be wary of using a place too far out of the city for AirBnB. 

I hope this was helpful.

I'm extremely excited to get started investing. Please add me and I will be at the next meet up. I look forward to it!