All Forum Posts by: Micah Lynell Mortag

Hi Everyone.  I have a condo in a very nice area of Atlanta.  Location is PRIME with Mercedes Benz headquarters and many other big corp companies in the vicinity.  It's remodeled and furnished with a king and queen beds.  It's sad that it sits vacant!  I stay there about 10 days every quarter and NEVER when the temperature is below 60 degrees.  I was considering using this for a 30 day/ 90 day type corporate rental.  I have ZERO desire to do "turns" and run this like an air b&b hotel.  In addition, it is my second home, so I keep clothes and some personal belongings there.  I have only ever worked with buyers, sellers, & investors so I don't have the slightest idea where to find tenants, corporate renters or where I would even start to find prospects for this saturation.  Any advice? 

You are amazing @Victor Steffen  Much thanks for your time ;) 

Sorry my formula confused everyone!  Not > but <.  Too much coffee this am! lol My goal is to get a value that makes this a cash flowing investment, which means I would need to work backwards based on the current income.  I wanted to know what additional figure/% you all use to analyze.  

@Victor Steffen   This is GREAT, but what precents?  5% Vacancy, 5% Maintenance, 10% Management?  Both units are metered separately and utilities are the tenants are responsible.  

@Carl Davis This area definitely has room for improvement.  The last closed multi family sale just .2 from this area sold in 1 day with multiple offers $40k over asking....and appraised!  Still driving prices in the multi-family assets in Atlanta.   And YES, house hacking could be a marketing angle.  Great feedback.  Thank you!

@Kim Meredith Hampton. Sorry for the confusion with the numbers. I want to analyze this from a cash flow perspective and hope that it meets the CMA value which is what appraisers will use. This is a perfect-world situation for a listing broker! If the numbers don't work now, then we will wait to increase the rents when the current leases expire. Couple months. The max potential for each of these units with AHA is $2200 per side. Great question :)

Based on a CMA value of $440k, Taxes $7180, the PITI value is $2860. If I need to add 20% fees for vacancy, maintenance & management that's $720 totaling $3580 per month. Tight!!!! Would the equity potential and the option to raise rents later be enough to make this a worthwhile investment?

Thanks Everyone!!!! 

I'm selling an investor/ clients Duplex in Atlanta that is currently rented Section 8 for a total of $3600 ($1800 each side).  The property has some tenant damage but it is not what I would consider a rehab.  Condition is "fair"   I have run comparative market analysis to come up with a value based on recently sold in the area.  I would like to know how an investor would analyze this property form a cash flow POV.   I have MY method, but I would love to hear others...  

PITI (20% down at 6% interest) > $3600

Thanks in advance!

 Thanks, Nate!  Yes, I have done a couple flips and holds some rentals. 

Hello Everyone!  I wanted to introduce myself.  I'm a broker in Georgia & Florida with teams in Atlanta, Fort Lauderdale & the Panhandle (Destin to Panama City)  I primarily work with investors, but can also handle traditional real estate sales.  Great to connect with you all!

Hi Dajana :)  Welcome to Bigger Pockets!  I'm also new here to the community.  However, I'm not new to real estate investing! lol I'm a broker in Atlanta, Georgia and Florida. I focus mostly in Atlanta for investment opportunities (better numbers!) I would love to connect with you!

I would take a deeper looking into the stats for the specific market you are wanting to invest.  The news can be scary, but the real numbers in my markets are much less scary! lol Look at the trends and adjust your numbers accordingly. 

I would also highly recommend Bigger Pocket's "On the Market" newest podcast.  It's GREAT!  I just listened to an episode last week that answered this question. Check out "How to Profit in a Recession"

Hope this helps :)  

Hi Tommy!  Have you tried the "Find an Agent" feature here on Bigger Pockets?  You just answer a few criteria questions and Bigger Pockets will match you with an investor friendly agent!  I would love to help, but I'm in Georgia and Florida.  Much luck to you :)