All Forum Posts by: Kalim Kalla

3 of my favorite places or rental properties in Atlanta- Stone Mountain/Lithonia, South Atlanta (Forest Park, Riverdale, Clayton county), 30318 Grove park. You can typically find homes in these areas that are distressed and that present some value add opportunities to employ the BRRRR strategy well.

Higher end or more expensive area that is my favorite: Smyrna/Marietta. 

Couldn't agree more with what Brenden said above (highly recommend a meet with him- ample knowledge to be gained from Brenden). To dive into a couple areas more specifically I would see if you could find a weekly or monthly rental in Brookhaven, Midtown, Buckhead, Vinings, Dunwoody, or Sandy Springs. Pretty central locations while still being family friendly depending on your nuclear family's age and such. Metro Atlanta has some really good Public Schools throughout the suburbs that you may find a beneficial endeavor to learn about should you be considering the move. As far as investing these areas are nicer areas for you to stay in with relatively smooth drives to most of the areas you should be considering investing in.

Beauty looks good, can only imagine it shows even better.

Investment Info:

Single-family residence fix & flip investment in East Point.

Purchase price: $139,000
Sale price: $308,000

Contributors:
Adam Polokoff, Matthew Overstreet, Drew Dotson, Stone Bettersworth, Mitchell Kramer, Christopher Mannella, Damicco Robinson, Tyler Uliss, Jade Bridges

Slam Dunk Deal I sold to one of my investors in Atlanta. This property did really well due to the excellent rehab and appreciation my investor saw. We expected an ARV of $310,000 and our investor sold the home for $308,000 with only 7 days on market. East Point continues to be a hot area to do business and we continue to sell some of the best flip deals to our investor relations.

What made you interested in investing in this type of deal?

we know the area and always work day in day out to get deals locked up in East Point and the surrounding metro ATL areas. If its a deal Skystone will have it.

How did you finance this deal?

This deal was funded using cash by our investor in order for him to fix and flip the home.

How did you add value to the deal?

We sourced the deal, conducted a rehab analysis, did research in the area to find true comps to support the ARV we stated.

What was the outcome?

Our investor was able to do a flip with his established rehab teams and went in to do what they do best. We focused on our job to do what we do best and continue to forge a beneficial partnership.

I like the approach, But I think there are a lot of other more financially beneficial homes to do this too in Atlanta. With a property price well above the 200k mark I truly believe you are seeing a lag in rental rates as they do not tend to follow Price as closely above 200k. I would aim for smaller homes still at 3/2 in areas that are a bit more affordable to enter. Just to give you an accurate expectation for other deals I just sold one of my investors a deal that if executed properly is able to cash flow at 32% CoC very confidently and can be pushed as high as 40% assuming everything goes really well this was in Forest Park. All based on my opinion but I don't think it is worth your time to put all this effort into a home that is priced in this range to rent. I also noted that you had a purchase price of 311k and the home is actively listed for 3 days at 350k. Hope this helps, open to any questions!

Hey Hannah, I wish you the best of luck and am here to support. I am definitely biased when I say Atlanta is the spot to be doing your investing. Major hub in the South East and many ways to attack the rental market here depending on your desired audience. As you can see there are a ton of places to invest and achieve that cash flow you are looking for. I would aim to look for areas that you can see yourself spending more time in and having something attached to the city other than just an investment. Maybe a places you like going to, a place that is central and convenient for you. I truly think if you look intelligently enough you can find the numbers in most states people have mentioned. 

Thank you, are you actively investing in ATL?

Investment Info:

Single-family residence fix & flip investment in Douglasville.

Purchase price: $139,000
Sale price: $259,000

Contributors:
Mitchell Kramer, Christopher Mannella, Stone Bettersworth, Drew Dotson, Damicco Robinson, Adam Polokoff

Slam Dunk Deal in Douglasville, this was a tough deal that we received kick back from investors that the rehab would be too much and the ARV was not supported in the area. We had expected numbers PP: $139,000/Rehab:$48,000/ ARV:$225,000. Our investor ended up spending $52,000 on the rehab and ended up going under contract for $259,000. $34,000 over our expected ARV.

What was the outcome?

Under contract for $34k over expected ARV.

Lessons learned? Challenges?

One of the main challenges we saw on this deal was that buyers were scared off the rehab and did not think that the ARV was accurate on our end. After one buyer backed out and we sold it to another buyer they ended up with a big pay day achieving an ARV 34k over what we expected solely due to new comps and appreciation in the area.

Excalibur Homes is a solid one that some of my investors always use. I have another relationship that would be happy to hear from you that does a stellar job- Dm'ing his info to you. 

Investment Info:

Single-family residence buy & hold investment in Forest Park.

Purchase price: $89,000

Contributors:
Christopher Mannella, Drew Dotson, Mitchell Kramer, Adam Polokoff, Stone Bettersworth, Damicco Robinson

Awesome Buy and Hold deal I helped my investor to acquire. The rehab was super manageable and presented a solid opportunity to cashflow higher than 30% CoC. Investor was super thrilled to get this one wrapped up and on to the next. BRRRR method is king in the rental space and I continue to provide deal after deal exceptional returns on distressed deals. Big props to my investor for being able to stick to budget and knock out this rehab and close on a tenant within 3 months. On to the next to grow my investors portfolio.

What made you interested in investing in this type of deal?

The potential in the area and an opportunity to cashflow well.

How did you add value to the deal?

Sourced for a personal client relationship.

What was the outcome?

expected rent of $1275 my investor got $1490 in rent after rehab cash flowing above 30% CoC.