All Forum Posts by: Mary B.

Thanks, Michaela! Do you know if there is any way to find out who that non-profit is? The tax records show it was held by an LLC prior to being transferred to the land bank. It is a vacant house with someone living on the front porch, so somewhat of a deterrent to my purchasing the adjacent property as an investment.

Do any of you have experience dealing with this organization?  I'm under contract for a property that is wrapped on two sides by a parcel owned by the Atlanta Land Bank Authority.  This L shaped parcel means that the parcel I may purchase will lack any usable yard space.  I don't see it listed on their properties available for sale and have zero experience with land banking in general, so thought I'd reach out here and see if anyone can lend their advice. 

Thanks!

@Nicholas LaGatta Re the roaches:  I used this stuff in the last one I cleaned out and went from "the floors are moving" to no evidence of infestation in just a few weeks.  It was pretty horrific, not gonna lie.  I also installed new weather stripping and caulked all the windows, etc. to prevent re-entry.  My friend is a property manager for luxury condos and also recommended it: https://www.amazon.com/advion-Cockroach-Bait-4-syringes-1-06/dp/B002Y2GNVM/ref=asc_df_B002Y2GNVM/ 

Caleb Edwards here’s what I see: 12) Accessory dwelling units, where the total number of dwelling units on any parcel, including the accessory dwelling unit, does not exceed two. http://atlantacityga.iqm2.com/Citizens/Detail_LegiFile.aspx?Frame=&MeetingID=1692&MediaPosition=&ID=10667&CssClass= I have an R5 property too so I looked it up not that long ago. I think it’s a great idea to maximize your return but I don’t know if it is *technically* permissible. I’ve got a full apartment in my house though, kitchen and all, and I’m def not zoned r5 😂. If you pulled permits on the job though, you’re probably in good standing and I’m probably wrong. I’m just trying to get clarification since it’s not what I previously understood to be true

@Caleb Edwards Wow, I thought that the maximum number of dwelling units on an R-5 lot was two, can you post a link?

Yeah it was definitely too big for my britches; I'm a moonlighter as well.  :)    

I have seen a lot of SFH conversions zoned R5 in south Atlanta - I have been keeping an eye out for properties with the telltale signs of a conversion - matching windows but offset entry, space for two driveways, etc. I own one in the "double shotgun" style that I am currently renovating. Great advice already in this thread but it bears repeating, don't be put off by the depressed appearing areas on the south and west loop of the beltline. Development in those areas is strong. @Michaela G.'s posts about the Pittsburgh area over the last few years will be an amazing resource for you if you're looking to invest there.  

No advice; I just wanted to say good luck and what a cool project!  I looked at buying a very similar house on 991 metropolitan pkwy, also a duplex that had been converted to a rooming house/SFH.  I bet they have the same builder.  That one has a pending offer - perhaps you could get in touch with the buyer to see if they want to offload any of the original architectural elements as it also needs a full renovation.  If they choose to update rather than restore the structure, it could be a good source for your needs.  

Please add me to the notification list.  Thank you!

@Ariel Smith the escrow for the earnest money was 3 days, the cash payable at closing and the closing date was two weeks "or sooner" depending on the contingency.  I also thought it could be a quick discussion between the agents - I'll inquire again about it.  Thanks so much for sharing your expertise.  I think, from what I've gathered via this discussion, is that our contingency was too harsh and due diligence too long and that we should offer more in earnest money.  You all have been a great help.

@Michaela G. I really admire your strategy - I'm about to put a bid on a rehab in an estate and I think I'm going to increase the earnest money dramatically and drop the contingency.  This one is a much higher price point but I'm more comfortable because it's just down the street from me and actually has the same builder as my home, so I am very familiar with the structural condition and build quality.  Thanks again!