All Forum Posts by: Kalim Kalla

Hey Bridgett, Looks like an awesome job. Based on the numbers on this deal you lost close to 800K. Was the sale price meant to be 1.29M?

Pratik I think that is probably the best Idea, Very well noted Lithonia is on of the hottest rental areas that we are seeing today as far as rentals near Atlanta go. I would aim for areas OTP Atlanta ranging all the way from Stone Mountain/ Lithonia, through the south all the way to the airport. We have seen solid CoC returns throughout those areas. I just sold a deal to one of my investors that I have a close relationship with in Forest Park. ( All in 135K). Forest Park has had some pretty good deals recently. I-20 East corridor has a pretty big variety of homes when it comes to price ranges. You pass through areas like Parkview and East Lake then going into Panthersville going from pretty high ARV's to lower ranging ARV's. I hope this helps you target the market that works well for you.

Investment Info:

Single-family residence fix & flip investment in Atlanta.

Purchase price: $120,000
Sale price: $284,000

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

Investor Completed flip in a hot pocket of Atlanta 30314. Amazing rehab job throughout the home. Bathrooms basement all top quality with landscaping done to open up the exterior face of the home. Floorpan is cohesive with comps in the area. Awesome flip, On to the next!

Kaustubh, I find a really good area for appreciation in homes and rental rates themselves is Lithonia. We just had a rental property in Lithonia yesterday that had an ARV of 190K this year and had it been comped out last year it would be around 165k. The main force driving this appreciation is the influx of private equity firms coming in and spending a bit more money on the rehab of their homes and increasing rents placing new tenants in. For this specific reason, Stone Mountain and Lithonia seems to be one of the hottest areas for rental appreciation in ATL. Using this knowledge if you can find the areas they target next or get into the areas they currently own SFH's in, at some form of discount that could present a great opportunity.

Hey Judy, I like the attitude. Don't let everyone get you too bummed about your ideal of investing its a solid start. In GA there are areas specifically in Atlanta that can get you to achieve the 1% rule or pretty damn close to it. I find quite a few opportunities really close to that rule on a monthly basis. Yes you might have to leave your comfort zone in some aspects when it comes to the amount of rehab you want to do or the proximity to your home location, but considering you are an OOS investor that doesn't seem like an issue. It very well can be achieved but is not super realistic to build a huge portfolio or consistently find deals. I would say you can keep to your 1% rule if you are okay only finding a deal every 3-4 months that fits right in there. But if you open yourself up just a bit to deals right under the 1% rule then you could see more opportunities. They do go off the table faster than other so you will need to capitalize on the opportunities when you find them.

No you definitely do not!

Charline, Just from the simple math displayed below that looks like a solid deal. calculating your simple return using the PP and NOI 287,166/1,320,000 =~21.75% Return. I think that is a solid return, of course you should take into account opportunity cost as well as the risk of having a short term rental property.

Hey Jacob, If I may add my 2 sense to this deal based on my analysis. I have analyzed the deal using a cash out refinance model. Instead of HM refinance model. I will explain both below. at a purchase price of 80k rehab of 20k and are of 120k with 850/month in rent 5% Vacancy, 8% mgmt, 5% maintenance. I have an annual NOI at $6,636.

On a cashout refi at 3.00% over 30 years of 90k. total cash left in the deal is $15,570, with monthly cashflow of 173$. this represents a 13.38% CoC return. Using Hard Money to acquire this deal would completely crush these okay numbers from where they are by adding a bunch more costs. Depending on the locale, 13.38% is not terrible but I think you could find a property that exhibits a better leveraged return.

Duane it is a bit unfortunate they are all filled with quite a bit of spam, but when you find a genuine post by someone addressing something you are curious about of share an interest in I would personally send them a message in order to get in contact. Instead of facing a bunch of wholesalers trying to add you to their buyers lists at social events we are seeing the online equivalent which is to be expected. attached below are the names of the groups I participate in!

Atlanta Real Estate Investing Meetup + Atlanta Real Estate Investors club 

Investment Info:

Single-family residence fix & flip investment in Atlanta.

Purchase price: $82,423
Cash invested: $72,000
Sale price: $279,000

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

Wholesale Deal we provided to on of our investors. They took their time with this project in order to wait for comps to list. We expected an ARV at the time of purchase of around 215k, patience paid off for this investor as the property is pending at $279,000 Today! Feel free to reach out to me with any questions about this property.