All Forum Posts by: Nicholas LaGatta

It really depends on the scope.  Adding beds/baths/square footage or major repairs spanning multiple trades? Get a GC.  If it's mostly cosmetic updates or 1-call trades (call a roofer to fix the roof, call a floor guy to finish the floors), then I would say a GC can't add much value over a handyman and the return on your own efforts.  

Feel free to DM more details and I'd be happy to give you my opinion based on my experience.  I run a handyman/maintenance services company and I also work as a project manager under a licensed GC. 

This really isn't true.  There was a very poorly conducted and fully debunked piece of so-called journalism that publicized the high crime rate in East Point.  For the most part, it's a safe, quiet, little town that's great for investors.  Go for a walk on nearly any street and you'll see what I mean.

Hi, Dylan.  Welcome.  I'm an experienced investor, agent, and a project manager for an established general contractor, focused mostly on historic preservation, custom homes, and investment properties (flips and holds).  What areas of town are you interested in?  What kind of investment criteria do you have?

I had this exact question.  My biggest question with pursuing tax sales is whether or not the value is really there.  

"*** Improved: (a) vacant / rundown / board up: sold for 25-35% of the county appraise value." --- can anyone validate this from their experience?

VA4REI may be ok for cold calling, but I've had an inexcusably bad experience trying to get a general VA through VA4REI. I am literally looking for someone to do basic admin tasks like tracking action items, taking notes, updating lists, data entry, etc. Their billing structure is a total bait-and-switch tactic, which is unethical.

I have wasted many many hours and hundreds of dollars on this service and they have just set me back.  They don't seem to have the talent or leadership to get the job done.

I'm a residential BRRRR investor, agent, and builder with a modest portfolio of 10 properties and actively growing. I've got a neighbor that's provided private money on 2 deals and it's been a tremendously synergistic relationship. Now my neighbor wants to sell his primary residence and move out of state.

We are currently discussing how we can make a mutually beneficial deal.  He has an attractive and well-maintained retail house in East Point in a B/C area that is a nice mix of cash flow and appreciation.  

I think his house is worth $165k.  However, I think I'd be willing to pay $185k, contingent on (1) owner financing at 3.5% interest-only, the seller's opportunity cost in this case, (2) no down-payment, only cash outlay is $10k for closing costs, AC repair, and typical rent-ready costs.  The seller gets a premium sale price and will save  $11k in commisions. Win-win, all day.

I would end up cash flowing roughly $300 per month, after ITI, management, capital, etc., a cash on cash return of around 30+%.  I wouldn't be able to refi until the property is worth at least $225k or more.  Also, once I refinance, there is a very strong chance that the investor will reinvest the money with me, albeit at a rate closer to 8%.  

This would be my 4th owner finance type deal, but I've never bought a retail priced property with exactly this strategy.  What might I be overlooking?  

I'm looking at an off market 2 acre lot with a house in a residential neighborhood, just one of those odd large lots in an otherwise decent neighborhood that I'm familiar with.  The owner says it can be subdivided based on a vague discussion he had with the city 25 years ago. Hmmm...  

I've read through the muni code and the application for this type of process, but I wasn't clear on what the deal-breakers are and what I should look out for.  I'm still doing a feasibility analysis and I'll try contacting East Point, too.  Anyone have any ideas or experience to share?

Thank you!  This seems to be exactly what I'm looking for.

I'm looking for any guidance on using a solo-401k as a down-payment to buy rental properties.  Can anyone share their experience?  Does anyone know a lender that does this type of loan?

Thanks in advance.

This is a really difficult question to answer without know your objectives and strategy. Which of these are the best properties for appreciation and cashflow? Probably none of those. I also wouldn't describe these as "turnkey rentals." I'm an agent and investor in the area. I'm happy to talk through your approach and give you some feedback and guidance, if you send me a message.