All Forum Posts by: Michaela G.

It's 7 years later and I'm revisiting this post to see if selling real estate with crypto has more feasible options now. Things have changed a lot and I'm thinking of listing one that way

0 Votes

Still the same. They've bought a lot more in the past 2 years, even paid 350k for one piece. Huh! I'm staying on top of the sales. Covid came and I know the city is cash strapped, due to the Airport having slowed down. But they have contracts on some of the pieces from developers and they're working on the infrastructure. So, it'll happen. I can wait.

2 Votes

Originally posted by @Joshua Ryan:

I am an investor in Atlanta. When searching for deals I see a lot of burned out properties. I looked at many other markets and I simply do not see nearly as many burned out properties in other places. Is there a specific reason that there are so many burned out properties in and around Atlanta? I can't seem to figure it out. What am I missing?

space heaters, maybe. Many other areas of the country have more severe winters, so they need a full house heating system all winter. Here in Atlanta it gets cold, but not as cold, and many lower income tenants try to get away with space heaters, because they don't want (or can't, because of outstanding bills) to turn on gas heat. It would also require an extra deposit, that they might not have. So, they use electric space heaters and overload an old electrical system and boom.......

In NYC or Chicago there would not be any consideration of not having the heat fully functioning

0 Votes

Originally posted by @Wayne Harris:

I saw most of these post are 1 year old and a lot has changed in terms of home prices and new housing developments in SW Atlanta, College Park, and in particular the new city of South Fulton. Airport City was renamed SixWest and they broke ground on this 1.5 billion dollar development in October 2020. I retired to the SW Atlanta Butner Road and Thaxton Road area in 2018 seeking the suburbs, affordable prices, proximity to the airport, downtown, and highways. To my surprise they have to started to build like crazy in my area near Butner Road, Old Stonewall Tell, Enon Road, Wolf Creek, Old Fairburn Rd, or anywhere near Camp Cree Pkwy with access to the International Airport or Beltline. I have not seen this kind of building in area since I lived in Silicone Valley/San Jose over 30 years ago. We paid just under $300K for our new 3500 sq ft. home just 2 year ago and the builder is selling the same floor plan 2 years later for over $400K. Things are so competitive now that our community has a waiting list or if a homeowner puts their home on the market in our community its under contract in less than 72 hrs with multiple offers. I was hoping for more quiet when I moved to this location but with the new building and new shopping, and all the development near the airport its not possible. e

Heck, so 2 years is enough to get your tax free profit and go and buy another house.

2 Votes

Atlanta, Georgia

Originally posted by @Kaustubh Johri:

@Michaela G. - Do you recommend an architect you may have used in the past ?

I ended up just holding the duplex and not rebuilding for now and have not worked with an architect for anything else

0 Votes

Atlanta, Georgia

Originally posted by @Account Closed:

@Michaela G.

I thought earnest money isn’t given until offer is already accepted.

Earmest money is part of your offer. While you don't pay it until it's accepted, the amount is named.

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Just remembered this situation and googled. Looks like there's a settlement.I hope everyone ended up getting made whole or almost whole.

https://www.jacksonville.com/news/20191022/settlement-signed-in-ponzi-lawsuits-with-jacksonville-car-fire-survivor

1 Vote

Originally posted by @Rashaun Forrest:

East Point, West End basically anything on the unbuilt section of the beltline is a great up and coming. If this airport city thing happens that area should appreciate very well.

The Airport City thing is definitely happening. It's now called 'Six West'. has to do with history of the area. They're rezoning right now. Final zoning meeting on July 20th. Zoned to PDC - Planned development Commercial. I have properties in the middle of it, so I'm staying on top ;-)

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FYI - it's normal, in Atlanta at least, that investors will gladly share any subs that are good, that only spend a few days at a rehab - plumber, roofer, electrician etc.

The GC or carpenter will be with the project from beginning to end. Typically, we have to kiss many, many toads before we can find our prince, so, if we found one, we don't readily share, because if that person gets too busy or is snapped up by a bigger rehabber, they will be too busy for us on future projects and we have to start all over with kissing toads.

It's sort of an unwritten rule here. Completely understandable.

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A lot may depend on the FMV.

1) You have a property that's worth 200K and rents for 2400 and your expenses are $ 1600

2) Or you have a property that's worth 400K and rents for 2400 and your expenses are 1600.

Both cashflow $ 800, but a big difference in value. The 1st one many investors would buy as investment. The 2nd one they wouldn't. The 2nd one I would sell

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All Forum Posts by: Michaela G.

Michaela G. has started 88 posts and replied 3170 times.

Post: Can bitcoin be utilized in real estate?

Post: Property in middle of future development

Post: Burned Properties!

Post: What are Atlanta's best/worst neighborhoods

Post: Architect and Structural Engineer Cost in Atlanta Georgia

Post: making my offer stand out when there are multiple offers

Post: Qualified Intermediary Scam?

Post: Atlanta Neighborhoods for a new Investor

Post: Complete Remodel (gut) for 1960s home in Metro Atlanta, Georgia.

Post: Renter vacated my townhome. Rent again or sell?