All Forum Posts by: Melissa Dinas

Howdy ya'll! 

💰 Anybody interested in becoming the bank for the following? 💰

This is in the Venetian Hills neighborhood of Atlanta, GA

(full calculator at the link below)

ARV 380,000

List Price 255,000

Purchase Price 210,000

Down Payment 210,000

Estimated Repairs 100,000

Closing Costs 12,600

Fair Market Rent 5,600

Insurance 1,500

Taxes 1,200

Maintenance 5,600

Vacancy 0

Utilities 2,000

Management 13,440

https://docs.google.com/spread...

Do you know what the topic will be?

Hello everyone! Wondering if anyone's interested in funding/partnering for the following:

Purchase: $125k

Reno: ~$90k

ARV: $300k

Please message me if you are

@Mallory Austin Congratulations and I have my fingers crossed your closing will happen on time!!

I was wondering if you considered keeping it as a duplex for a time? You can still do renovations and make it a beautiful home to live in but having a renter you'd have your mortgage partially (or completely) paid for. You could do that for a period of time and get your mortgage paid off twice as fast, if that's what you wanted to do, then use a HELOC (or some other form of loan of your choosing) to renovate it into a SFH...

Obviously I don't know what your family's needs are but I'd be interested in hearing if you'd considered this, if you don't mind? 

@Alex Sanciangco I've been thinking that the end is in sight for two months now! lol But seriously, it has taken much, much longer than expected. 

@Evan Parker  hard money was the only option I had at that time so I'm glad it was available but it was a very confusing process because the lender I used was very unclear as to what the process was. The explanation from their rep didn't give me all the details I needed and I was constantly having to email/call asking for more information. And because I had never gone through the process before I didn't know what I didn't know so I would discover things after the fact that really threw a wrench in my plans. On top of that, the one person they had dealing with buyers (that I had so much trouble with) was fired/quit in the middle of the purchase and the new person was brand new and didn't know anything! So every time I asked a question, she would "have to get back to me". Which is not so great when you're in the due diligence time crunch!! 

My opinion is, hard money is useful but I have other options now so I would only go to it if it made sense. And I would definitely shop around for a different HML!

@Wyatt Buttars and anyone else interested,  I am going to be posting all the numbers (ugly as they are!) within the next couple of weeks. This pill I'm swallowing has lodged itself in my throat and I'm working to get it all the way down ;-)  

In the meanwhile, here are some photos of the floor as they enter phase 1 - sanding.

Talk soon! 

My costs are exceeding what my original estimates were, unfortunately. I continue to discover issues that I didn't know about before. I just spoke with a neighbor yesterday who said "there were about 5 groups before" I got in there and each one was there for very short periods of time. (I'm going on month 6 now) My guess is, they found an issue (or several), covered it up and flipped it to another. I'm the only one who's stuck it out this long - for better or for worse.

I can say that I have learned a tremendous amount from this never-ending project. I thought we would be staging & listing yesterday/this week (week of 6/10/19) but we got hit with another round of downpours starting last Thursday which slowed down the drying of the floors (stain) which delayed delivery and installation of appliances and also delayed staging (obviously since floors aren't complete). Siigggghhhhhh

Grant - can you elaborate on what you meant by "the buyer collects 12% a year"? Collecting what?

Hello all!

I have several properties in my pipeline and I'm looking for investors who are wanting a piece of the pie! I'm not a real estate agent nor a wholesaler. I'm just hustling and finding these properties that need some rehab and can be flipped or BRRRR'd for a profit. I am in the Atlanta market which is still exploding right now. Example of one such deal:

Purchase price: 85k

Rehab: 90k

ARV: 300k+

I'm looking for rehabbers who can do full-house reno's and want to have a piece of the property they're rehabbing.

I'm looking for other investors who are interested in doing joint ventures on projects.

I'm looking for investors with cash who want a better return than what the bank can offer them.

Looking forward to hearing from you! Send me a private message with questions so I'll be sure to not miss it.

Melissa

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Ha! I literally just read this article this morning! It caught my eye since I'm originally from NY. 

I have the same thoughts as you...I'm finishing up my property in East Point now, finally!  :)  But I'm seeing the margins are extra tight there now. I'm spreading out to different areas...

Check your inbox! 

I'm trying to add more photos to my investments section but when I click "save and close", nothing happens! Is there a limit to the number of photos we can post that's not advertised?