All Forum Posts by: Mark Moore

I agree, and there is some of this happening. That said, I don't follow that practice, and knowing that others do I tend sell my deals quick. Both deals I've posted here in the last few days are my own, and one has sold within 24 hours. Best of luck!

 Amen! I think I found out about him a couple years ago on your website...What a nice guy!

Hey Guys,

A new deal under contract:

https://www.biggerpockets.com/forums/517/topics/230486-huge-atlanta-suwanee-deal-for-real-reabbers---530-550-arv?page=1#p1524159

4541 Meadow Club Dr. Suwanee, GA 30024

http://www.zillow.com/homes/4541-meadow-club-lane,-suwanee,-ga-30024_rb/

Zillow value (based on 2.5 bath) of $492K. Tax value of $428K.

Pictures can be seen at: https://drive.google.com/open?id=0B6R_knOdBvoAbkFsMV9zQkNkUTA

The house is located in Rivermore, a very nice and in demand sub division, and is in pristine condition, but has a very large unfinished basement that has stubbing for a full bath. It overlooks a large nature preserve and the Chattahoochee river. 

The plan would be to finish out the basement to add a full bed/bath and bring the property to a 5 bed 4.5 bath at 4500+ sq feet with comps north of $540K

ARV $540,000

Acquisition $392,500 (non-negotiable)

Total Update Cost Estimate $50,000 (35K for finishing of basement, 15K "padding")

Profit $97,500 Minus my assignment fee. Up for discussion with the right buyer. 

NOTE: Please do your own diligence! I am selling the contract to purchase this home, not the home itself. Any data I provide is for informational purposes only. I am not a realtor.

Cash or hard money only. Buyer responsible for closing costs and are estimated to be at $650. Closing to be held at Wagner law in Atlanta. 

http://cloudcma.com/pdf/5921c03f8c22591c317aace3a482a51a

Last time I was at six flags, a wasp stung me directly in the armpit....the feeling must be similar to how many investors feel after dealing with some wholesalers! 

That said, not every deal is a winner, but I'll send over my deals and let you pick what works as they come up. Message me your email address and a good number to reach you at. 

Mark

I actually already have an interested buyer meeting me with an EMD tomorrow, as well as two backups.

The house has a new roof, flooring and HVAC. For retail it needs kitchen updates, a new small deck, and some painting. I added another 15% for repairs to the final estimate.

BTW, I used your book as a guide for the inspection and estimated repairs :)

But I understand your sentiment, and one can put as much as they'd like into a home. I'll keep you updated.

Interesting...So where are these cash buyers finding their deals?

I just don't have much of a presence in the Woodstock area to be honest. It's locked up at $78k, needs 15-20k in updates, and will sell for at least $140k, maybe $150. 

@J Scott Are you still out of the Atlanta game like you said above? I've got something you may be interested in the Woodstock area if not. PM me if interested. 

The topic of this thread is the opposite of what I'm experiencing as a wholesaler, but I've had trouble finding ACTUAL cash buyers in the last few months here in Atlanta. I have plenty of off-market deals! 

Cheers

Hi Everyone, 

As I begin to ramp up my wholesaling business again in Atlanta, I've been compiling my "cash buyer" list. I'm not seeing as many rehabbers as I used to.

Where did all you guys go? Am I looking in the wrong place? 

Mark