All Forum Posts by: Greg Kurzner

Hi Arthur!  Glad you are motivated to move forward.  The hardest part is the limiting beliefs part...not enough money, time, knowledge/experience...

From there, it is about how you execute your plans. Personally, I think leveraging the expertise and experience of others is critical.  It can be expensive on the learning curve and no amount of book learning substitutes for actual experience.  Find those who can help you not only with the tasks but who also are experts in those areas.  Build a team starting with an agent who specializes in investors.  That agent should have contacts and experience with renovation, financing, everything you will need along the way.  Equally important in my opinion is that your agent partner should have direct investment experience themselves.  All of those qualities will benefit you greatly and allow you to bootstrap instead of learn by making expensive mistakes.  

Do you have a GC license?

Hi Miranda,

We can recommend Halcyon Remodeling.  They are doing two high end flips for us currently. Victor Torres - [email protected]

Cell - 678-670-3753

Hi Phillip, I also think long term rentals are a better way to go especially initially. STR's have a lot of moving parts and expenses LTR's don't. We are finding our institutional clients SFR's that cash flow in Atlanta metro. That said, the cost of leverage is definitely impacting positive cash flow. Hopefully there will be an opportunity to refinance in the next couple years and bump that up.

I Also concur that condos are okay as long as your overall expenses don't kill your returns. Condo fees can be a significant amount of money along with your leverage and impact your cash flow. SFH's do give you a better chance at appreciation because you can add value and differentiate yours to others adding value. Harder to do with condos that have same floor plan as every other condo in the complex.

Hi Jason, the thing I notice about PCB and really anywhere along the panhandle is that they are building everywhere. Supply is thus likely rising and as recession likely approaches, STR's are likely to soften as they are discretionary. Buying a rental in your area is smart in my opinion. LTR is stable versus the bigger economic swings as rent is only negotiated yearly and slower moving both up and down. While you might not see the same % of appreciation locally you might in a resort location, your cash flow will be significantly better and your risk lower. Additionally, with your available cash, you could possibly buy more than one LTR property as long as the leverage is workable.

Hi Jacqui, First, sorry that you had the damage to your investment property.  I know that it impacts your return on investment and enjoyment of ownership.  Regarding repair/renovation quotes, it is interesting that your insurer "recommended" a contractor they work with.  Many insurers don't.  I spoke with my agent, the insurer of a landlord policy with Allstate, and he said that isn't their typical process, to recommend a renovation partner.  

Nevertheless, the insurer might have an arrangement with the contractor to provide the work at a discounted price for the referral.  That isn't a bad thing as long as you are happy with the quality and competence of the contractor.  You should check them out...their licensing with the State of Georgia, reviews, and complaints.

You should probably also get a quote from another contractor to make sure the scope of work suggested is the same and the costs are also in line.  Your out of pocket deductible is likely considerable so having control over the costs and being in a position to negotiate with a contractor once you have a settlement amount offered by the insurer based on the adjuster's report, gives you flexibility and also allows you to go back to the recommended vendor and negotiate as well. 

Jeremy, I used to own a large property management company in Atlanta and sold it to Evernest in 2019.  I recommend them so you can reach out and see if they can give you a quote for their services.  Duncan Murphy is their area director. - 678-710-6110

Hi Luis, my suggestion is focus on wholesale deals.  If you are buying to live in, occasionally a wholesaler will have a home in your area that might fall in the price range.  When they do the open you can likely pay more than other investors looking to flip.  Downside is no due diligence and non-refundable money but if you can be comfortable rolling the dice on condition or have a qualified inspector/contractor to see the property with you...you might prevail on a home like that.  Generally the house will need some work but if the numbers work and you can live with condition or do what is necessary after you close, could be an option that isn't in the bloody water.

Sometimes not investing is the best investment.  Whether the inventory crunch and subsequent frenzy to overpay for a property will ease as we enter spring/post-covid...remains to be seen.  Patience can be hard but rewarding.  We make several offers each week and are landing very few properties that will work for us.  But...we stick to our numbers.  Lots of investors out there are just making stupid investment decisions in my opinion.  That said, if you are prepared to lower your risk-adjusted returns just to deploy some capital, you can do that but not sure the risk is worth the lower returns.  

Julie, where in Atlanta are you buying?