All Forum Posts by: Kabir Wolly

Hello everyone,

I am reposting this here as I didn't get traction in the Contractors' Forum. 

I am trying to build an ADU/Granny Flat at the back of a property in Smyrna, GA. I have been in extensive communication with the city planning department and understand the zoning requirements (it is allowed). I have reached out a bunch of contractors already with no real response.  I have full architectural plans and would appreciate a recommendation to any trusted contractor(s) that has experience building this type of home addition in the Atlanta Metro Area. Thank you.

Cheers,

Kenny

@Quentin Davie

Hi Quentin,

I’m also looking to get a remote job so I could move to Atlanta and trying to gather some information on the small multi family property scene here in ATL and closely related suburbs. I would appreciate any information reference you think would be helpful. Thanks in advance!

@Quentin Davie

Hi Quentin,

I’m also looking to get a remote job so I could move to Atlanta and trying to gather some information on the small multi family property scene here in ATLlr surrounding suburbs. I would appreciate any information reference that you think would be helpful. Thank you in advance.

@Ashish Acharya could you please forward me the information about the meet up as well? Thank you.

@Tanya Johnson 

Hi Tanya, 
I checked your profile but there's no link to the blog you mentioned. 

@Shelon Hutchinson

This is actually much simpler than I thought it’d be.

Thank you for taking the time to explain!

Congrats! Same here!! Waiting to close in Jersey City as well! 

Hi Eric, 

I am a relatively new investor so here are my 2 cents.

Firstly, good job on running your numbers. 
1. Why are there so many fees in the first scenario and a relatively lesser number of fees in the other 2 scenarios? 

2. Do you need 85k to furnish a house to make it appropriate for Airbnb? As for choosing to rent or Airbnb the house, you have to decide what matters to you, a steady paycheck from rent every month with guaranteed delivery or the possible (not guaranteed)upside Airbnb offers in terms of income. 

3. You need to run the numbers as if you will not be living there (as a rental investment property), the fact that you may be paying even more than you pay for rent now is not a good sign. The goal of house hacking is to live for free or relatively cheaper than you currently do while building equity and an upside on the appreciation. If the property is not doing that for you, I would advise you to reevaluate. My suggestion would be to tweak the numbers (purchase price) to make them work for you (so you at least break even) and make an offer with that number. You will not win every offer you place. That's just life. 

Note: FHA approves loans for triplex/fourplex using different criteria than other property types. Ignore this if you are already aware of it. https://www.anmtg.com/mortgage-resources/fha-loans/fha-sustainability-test-3-4-units/

Good Luck. 

@Sebastian Kowalik

Hi Sebastian!

Thank you for responding!

That’s great. I’d love to meet for coffee and chat too. I just sent you a connection request. Not really sure how BP private messaging works.

I look forward to connecting with you.

Thanks again Sebastian.