All Forum Posts by: Pratik Kochar

Me and my wife are real estate investors and we live in San Francisco and both of us are in tech and do a W2 full time job. We have done out of state investing and we hold 3 SFH and one Town home in Atlanta, GA and looking to expand our portfolio.

We attend a monthly meetup every 2nd thursday in the month. Let me know and i can send over the link. Looking forward to connect with like minded couples.

@Alba Cheung I am going through same situation. My tenant is unresponsive and has not paid rent for this month. Rent was due by 5th but no communication on late payment and is not responding to my text/emails.

 How was your experience with EvictThemForMe?

I am thinking to hire them to start the paperwork to send the ondemand notice atleast. 

Electrician gave me an estimate of $1500 for panel upgrade and $7200 for entire electrical system including service upgrade + panel upgrade.

He is saying that he will replace the breakers and 100 amps will be fine for $1200 sq ft townhome.

Estimate for panel upgrade: $1530

a) Replace 100 amp main breaker panel with new 20 space 100 amp panel

b) Replace 6 15 amp breakers

c) Replace 4 20 amp breakers

d) Replace 2 double pole 30 amp breakers

e) Replace 1 double pole 50 amp breakers

f) Replace 15 amp GFCI breaker

any inputs?

I am looking in Smyrna, GA area and I am more inclined to upgrade them as I will remodeling entire kitchen and hence do not want any trouble with load on the circuits.

 I am going to renovate 3Bed/2Bath 1170 Sq. Ft ranch home with new appliances ( Refrigerator, dishwasher, stove(electric or gas), washer/dryer, microwave etc and contemplating whether it requires and electrical upgrade from 100 amps to 150/200 amps.

Currently the HVAC system installed for central heating/cooling is  15 amps)and there is gas water heater.

Do you anyone know if this needs to a mandatory upgrade or any recommendations around the same and what it can cost to upgrade electric panel to 150 amps/200 amps?

@Tamika Howard were you able to upgrade to 200 amps? I am in the same boat and looking for electric contractors in GA area.

I have looking for 3Bed/2Bath 1170 Sq. Ft homes and going to renovate with new appliances ( Refrigerator, dishwasher, stove(electric or gas), washer/dryer, microwave etc.

HVAC system is electric (15 amps) and there is gas water heater.

Do you anyone know if what it can cost to upgrade electric panel to 150 amps/200 amps?

Hello BP Members, 

Looking for contractors/handyman in Atlanta area to do a light rehab in 1100 sqft townhome.

Scope of Work - entire home flooring(removal of carpet), interior paint, light fixtures, fans, kitchen cabinet(reface or paint) along with hardware, countertops, bathroom vanity, shower fixtures

Hello Community,

I'm considering an investment opportunity and would like to gather your thoughts and insights. The property in question is a duplex, built in 1985, and consists of two adjacent townhomes that can be sold individually. Both properties fall into Class B- category and has no HOA and no rental restrictions.

Here are the details for each property:

Property 1:

• 3 Bed, 2 Bath (1020 sq ft)
• Purchase Price: $250,000
• Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)
• Rehab Cost: $30,000
• After Repair Value (ARV): $295,000
• Down Payment: 20% (Out of Pocket: $50,000 + $30,000 (rehab) = $80,000)
• Projected Rental Income Post-renovation: $2100/month

Property 2:

• 2 Bed, 2.5 Bath (1168 sq ft)
• Purchase Price: $230,000
• Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)
• Rehab Cost: $30,000
• After Repair Value (ARV): $295,000
• Down Payment: 20% (Out of Pocket: $46,000 + $30,000 (rehab) = $76,000)
• Projected Rental Income Post-renovation: $1900/month

The location is moderate, with amenities like shops, restaurants, a mall, and a baseball stadium within a 5-mile radius.

Considering buying both as they are in the same building, the total cost and income overview would be:

• Total Price for Both Properties: $478,000
• Down Payment & Closing: $96,000 + $10,000 = $106,000
• Total Renovations: $60,000
• Total Price (Including Renovations): $478,000 + $60,000 = $538,000
• Total Out of Pocket: $166,000
• Projected Gross Rent Monthly: $4000
• The rate of interest for the mortgage is 7.5%.

I am currently evaluating: A) The break-even point for two townhomes considering a cash investment of close to 32%. B) The pros and cons of having two properties instead of one (especially in terms of liquidity). C) The worth of investing $30k in sweat equity, considering this is an out-of-state investment.

I would appreciate any insights or advice you could give me on this potential investment.

Thank you in advance for your input.

Hey Shelby,

Welcome to BP! I live in California and I started my real estate adventure in Atlanta in 2022. Right now, I've got two properties under my belt and I'm on the hunt for the next great find in Atlanta. If you've got any questions or just want to chat, feel free to hit me up!

Quote from @Michael Dumler:

@Pratik Kochar, how are your two new construction properties performing? It sounds like you know which avenue to take based on experience and risk tolerance. While speculative, I'd recommend sticking with new construction and refinancing if rates come down in several years. Buying in A/B-class markets like Marietta and Lawrenceville will not require property management as long as you properly screen prospective tenants. Needless to say, if you do continue to scale, it's best advised to hire a property manager. Otherwise, your investments will soon become a full-time job. It's not always the case, but many property managers will provide a discount if you bring them a portfolio to manage—something to keep in mind moving forward. 

Stick with those A/B-class markets for peace of mind, especially since you live out of state. C-class markets are C-class for a reason. No growth, job security, new infrastructure, poor school systems, lack of policy enforcement, etc. Money is made via appreciation. While it can be implemented successfully, trying to time an up-and-coming market is risky. I'm happy to connect and share insights as an investor-focused real estate agent and Cobb County resident. 

1st Property I bought in 2022 is 20% value appreciated and yielding a cash flow of $300/month. Other one I bought is yielding cash flow of $200. 

P.S I got both the properties from builder's lender at around 6% for 30 YR fixed and will be planning for Cash out refinance on 1st property to get 70-80% of my down payment money back and invest those in getting more properties.

For new construction, I am pretty much confident with my previous experiences and will be a smooth ride for me. But I wanted to explore the Class B properties to diversify my portfolio.