All Forum Posts by: Greg Kurzner

@Akku Kumar

We have worked with 3 house hack/2-4 investors who are just like you already this year and each of them did something relatively different.  It really depends on your list of important criteria.  If you want to schedule a call or virtual meeting to discuss, we would be happy to do that.  

https://calendly.com/gregkurzner

We do corporate agency as well as individual investor brokerage in addition to our own stuff...so some clients have firms they require.  Building a good working relationship with one is good but also having options helps control costs and availability.  

Melania,

Interested in vacant land/lots.  Give me your contact info and I can email you our buy box.  Thanks.  Greg

We use Goggans, Stutzman, Hudson, Wilson & Mize, LLP; Campbell and Brannon. DM me if you need specific contacts or have need for a specialty.

Griffin, as others mentioned, my clients who are house hacking are doing it to lower their housing costs while building equity and increasing appreciation through doing improvements to the property before re-selling it and moving to the next opportunity. I don't think there is a realistic opportunity to house hack where your rental income will more than cover expenses, especially if you aren't renting out the entire property. An ADU or finished basement rental could provide a big dent in the monthly expenses.

If you can afford to put 30%+ down so as to minimize the effect of negative leverage, your numbers look better just like with any rental investment.  When the property appreciates and rates moderate, you will be able to refinance and improve cash flow significantly or pull cash out for additional opportunities. 

Hey Preston,  We are an investor-centric brokerage in Metro Atlanta.  We have done some work in West GA out I-20  and could likely give you and option of what your options are if you like.

HI Marietou, I am late to the post but happy to talk with you by phone if I can help guide.  Fantastic that you have secured some development property and I am excited for you to enter into the development process.  We are based in Fulton County and have experience with rezoning, variances and permitting in City of Atlanta.  We currently are completing the site development of a townhome project and the entitlement of a 72 unit apartment project in south Georgia.  If I can be of any help, happy to help.  

I think Paul is dead on point and if this is your first such development, you might look at the exit once the property is entitled and you have an LDP.  Much of the information asked and answered relates to your project soft costs for design, engineering, architecture and feasibility.  

Once you have added value on paper, then putting in the infrastructure and moving dirt is another whole "process."  If you haven't developed before, there is a lot to do there which could be a steep learning curve.  Development loans are expensive and delays and overruns costly.  If you don't have go-to vendors and competitive pricing for the grading and site work, curb and gutter, utilities, paving, wetlands, platting, etc., it could be challenging to take on the site development phase.  If thereafter you are looking to go vertical, another level of complexity.  

A lot of the unknowns should become clear as you move forward with the initial conceptual part.  Once you know what you can build, decide who your buyer is.  If there is a ready to go developer to take your entitled development forward, great, it's an option.  If your buyer is a builder, get a commitment before you move dirt so you have the exit in hand.  Makes raising capital for that phase easier.  There are a lot of great insights on this feed.  Lots of smart people.  Hope something I have shared you might find helpful.  

Marquez,  Happy to connect if you wanted to talk further.

Because of negative leverage, it is increasingly difficult to get sufficient cash flow without more cash down or sacrificing areas with higher price to rent but that are solid appreciation markets. Agree with above that it isn't ideal to feed a negatively-cash flowing property in hopes it will appreciate quickly but lowering cash flow expectations and buying at prices that provide some positive flow are the important things to focus on and where you will enjoy solid appreciation (like Metro Atlanta) but where you will be able to also likely increase cash flow both by refinancing when rates moderate and with lowering your LTV because of appreciation.

Michael,  We are based in Metro Atlanta but have some NY- based investors we are working with to buy here.  Happy to talk further if you like.  G