All Forum Posts by: Andy Bankston

I have a lake house vacation rental, and for me personally I have to rely on VRBO/HomeAway at this time.  There are some other sites with no fees, but VRBO has such a monopoly that these other services simply are not viable.  Basically, even though VRBO is getting super greedy with the additional fees and it sucks, I have to play by their rules because they are unfortunately the only game in town right now. 

I'm looking for fix-and-flip properties in the Atlanta area, hopefully on the North side (Cobb, Cherokee, Bartow, Paulding counties).

Does anyone have any good wholesalers they've worked with and would recommend?

Thanks,

Andy

@Angela DeBorja

I've still been using the tool, but this version will certainly need to be updated with new SKU's and prices. Hopefully some others will chime in with their input. 

@Manolo D.

For those bulk Items I just want to know how many I need total for that project.  If I need 33 faceplates and have 6 left over from my last project, I want to order 30, not 40.

Hi, Paige! Welcome to BP.
It sounds like you are in an ideal situation to consider buying a multifamily building and renting out the other unit(s). You can purchase anything 4 units or less as an owner-occupant, the same as if you were buying a single family home for yourself.
If you bought a quad then rented out the other 3 units you'd recoup the initial investment pretty quickly, then be ready to expand your portfolio (all while letting your renters pay your mortgage!)
There is a wealth of help and info on this site to help you decide if you are cut out to be a landlord and handle everything yourself, or if using a property management company would be a better option for you.
I certainly wish I had this knowledge when I was young and without many responsibilities! Good luck and keep us updated!

If you can list and give approximate costs for the 40K I don't think you have anything to worry about. Has the home already been appraised?

This is common, especially with FHA loans originating less than 6 months since the previous sale. I just provide them with a list of repairs and improvements and estimated costs for each. I think one lender asked for receipts as well. The underwriter is just verifying that value has been added to the property to justify such a price increase vs. the price being artificially inflated.
How much did you put into the rehab if you don't mind sharing?

Welcome, Todd! I'm your neighbor in Kennesaw. I've expanded into other areas to invest since I've been unable to find any more deals locally right now. Hopefully we will see some more inventory soon. Happy investing!

This one's probably my favorite.
http://www.realtor.com/realestateandhomes-detail/3646-Blakeford-Way_Marietta_GA_30062_M69426-78633

Wow, @Jeff Pollack, that house would sell for somewhere shy of $150K here.