All Forum Posts by: Account Closed

Cameron: We've done for Historic homes (125-150 years old) in the past 2 years. You can check that on smcchomes.com. The rehab budget ranged from $85k to $200K.

At a quick glance of those pictures, that's a tear down.

I've used bith TAPCO or the Affinity Group.  

Over the years, that area of ATL has earned it's sordid reputation. Thomas Jefferson said, "don't buy something just because it's cheap." I take that to mean that being within your budget shouldn't be the determining factor. Some people don't mind the hassles that go with living in a rougher urban neighborhood, while other folks get scared-to-death when a benign funky smelling old guy walks past muttering to himself. 

Is it a good investment? Can you find long-term quality tenants? Will it cash flow? Is there appreciation in the neighborhood? Have you checked the crime stats on Trulia? In a pinch could you sell it within 60-90 days? 

And the big question for In-town ATL is IS IT NEAR THE BELT LINE? 

Find a buyers realtor that'll do it.  

We just turned our first Non-performing note investment into a rental property! It's a lovely 2 bedroom/2 bath townhouse just off Flat Shoals Rd outside I-285.My plan is to rehab it for a rental. 

Does anyone know of good rental property manager in that area?

Thanks 

I don't know that GA short sales are substantially different than other states, meaning once you get the homeowner's approval then you're negotiating with the bank, which we all know is the fun part of the process. 

I've only provided that information once on a flip, and that's when the lender needed it to underwrite the loan. 

I provided it but without receipts and showing a reasonable RETAIL price. 

It does go back to the market value of the house. Is their sufficient equity today (25% plus) and decent assurance of future appreciation (5% per year) to make it worth negative cash flow?

The other obvious factor to consider is raising the rent to make up for the negative cash flow, but going up $150 a month may not possible in that market or with the current tenant. 

But if there's no equity, no appreciation, and negative cash flow, I'd be wanting to shed myself of that property, too. 

Joe, that was a good question. 

Tom, I appreciate the helpful answers

If you don't need the cash, this is math question sort of like a word problem in Algebra I. 

What's your ROI now? (annualized) cash flow+tax benefit+appreciation+principal reduction/total investment.

If you can get a higher ROI in another deal, move on.