All Forum Posts by: Nicole Harrington

We love flipping homes in Cherokee County and all the counties around us. Working on our 5th one right now. 

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $274,900
Cash invested: $66,511
Sale price: $400,000

Estimated a lot more on repair cost than actual cost. It's always good to overestimating and underspending. This one was a fun one, with no real major issues, just needed a lot of repair and updating.

What made you interested in investing in this type of deal?

I love the Southern-style front porch.

How did you find this deal and how did you negotiate it?

One FMLS and we knew the agent

How did you finance this deal?

Cash

How did you add value to the deal?

Renovating everything, floors, bathrooms bringing it up to the new living standard.

What was the outcome?

A beautiful home that has a new life.

Lessons learned? Challenges?

A great time is worth every penny. I love my partner on these projects.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am an agent myself.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $265,500
Cash invested: $62,387
Sale price: $430,000

The biggest challenge on this one was the smell from the animals kept in this home. Multi-treatment where necessary on the concrete slab, as well as in the master bathroom, which was a bird catch. Two codes of specialized paint for order control, not the regular Home Depot paint, were necessary. Cockroaches were on fun to get rid of either. They were everywhere!

What made you interested in investing in this type of deal?

It was close to home and I know the area well.

How did you find this deal and how did you negotiate it?

On the FMLS and I knew the listing agent

How did you finance this deal?

All Cash

How did you add value to the deal?

Experience on several different levels, for repair, and time line.

What was the outcome?

A wonderful new home that the buyer loves and appreciates

Lessons learned? Challenges?

Challenges have been mentioned above in the description

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes I am one myself

We are looking into two options for lead gen.  Dealmachine and Propstream . Can I get some input which one you like better and why?

I am looking into purchasing land, subdividing it, and building on it.  My biggest challenge right now is making connections with builders and GC. Is there a group somewhere I can make some connections? 

https://portal.onehome.com/en-US/share/1072515i88763

Thank you for your response. Yes, I agree with what Michael said as well. You both are confirming what I was thinking. I'll find out tomorrow how easy it will be to turn it back into an SFH.

 Thanks, to answer a few of your questions, 2 units are vacant and two will vacate this year. I can't remember the exact time. To my surprise, the home is in the tax records as a duplex. Not sure though if that really helps. I agree with everything you said. Question though, how do you calculate the home's value with 4 rentals? Let's say they are market value. 

Hello, I am a local Realtor and I need some advice. I am going to look at a home that is in Buckhead Atlanta and is currently divided into 4 units but is a single-family home. Rentals are below market, 3/2 $1700, 2/1$1200,$1200, attic studio $800. Single-family homes in the area sell for $1mill+. My dilemma though is that I am having a hard time coming up with the home value if divided into rental units. Can anyone give me some advice? Should it be turned back into a Single-Family home? or maybe do a house hack