All Forum Posts by: Kenisha Forbes

I am a rehabber, landlord, and GC who does lots of work for other investors. We typically see things come in around

-basic level rehabs (kitchens, bathrooms, flooring, paint, some minor wall patching) around $30 per sq-ft

-mid level (same as above but with possible roof, siding, major system upgrades, ect) at $50 per sq-ft

-full rehab including above but with framing, foundation, new insulation, new drywall, doors, trim, ect around $75 per sq-ft

- rebuild, additions, add a level, ect $125 per foot

There is no one size fits all and no two rehabs ever go exactly the same, there are always unforeseen things you find once you start working, but that should give you a ballpark. 

I currently own 3(1 duplex and 2 SFR) properties in Macon, and I am buying a 4th(duplex). I'll break down into categories.

 Overview: I will say this, it's not the most alluring area, but the mayor is trying hard to change that narrative. He is Bringing in an Amphitheater for concerts, building a green "city", and bringing major corps such as Coca Cola to have hubs in the area to attract jobs and younger people. We all know if people are employed crime goes down. He also is demolishing some of the blighted areas to make room for new homes. The prospectus he put out reminds me very much of East Point, GA 10 years ago before properties were selling for 300k. I didn't bite then when properties were going for 10k and years later I bought a few in the 50s, now I can barely afford that area. 

Crime: We've ran into a few issues of people breaking in while renovating but once occupied they leave it alone. Other than that people are really nice here. All of the break-ins were crimes of opportunity i.e., a contractor leaving a window open. I've honestly had more aggressive crime issues in ATL. 

Building a team: It took me a while to gain traction because most contractors work outside of Macon and the ones that are there are constantly booked. Once you have a team treat them well and they will treat you like gold. 

Market: Macon is a huge rental area, most of the population rents vs owning. I am buying properties for pennies on the dollar, my recent purchase was a duplex for 26k, we renovated it for 75k, its worth 130k. We are renting both sides for $900 a piece. 

Issues: My biggest issue with Macon is the fact it has no major airport. The nearest airport is ATL which is almost 2 hrs. away with traffic. It also has nothing major going on. Cities have festivals and celebrations going on certain times of the year which attract people and Macon does not have that. Again, I think that will change with the mayor's prospectus.

I am having success there overall and I am glad I didn't listen to people that told me to stay away. That city essentially catapulted my investment journey. If you ever need any advice or a property manager, I have some recommendations for you. You can PM me.