All Forum Posts by: Will Carbonell

Hi Everyone. I have attempted to pursue BRRRR in the Augusta area of Georgia. My best friend, who lives in Augusta, wanted to help me get my investment career started by having me work with his uncle who is a general contractor. I got in touch with a great wholesaler who sent me a lead. I sent the lead to my friend's uncle to have him review the listing and when we could set up a time for him to go take a look. He was then met with some discouragement. He said that most contractors in the Augusta area are busy and are booked until the summer. The only time any of them would be able to check out the property is really during lunch time. So this means that they would have to come off the job site to go look at a job they may not get. In the Augusta area should I look for smaller time handymen? Is the previous statement made by my friend's uncle valid? Any advice and recommendations will be greatly appreciated.

-Will

@J. Mitchell Bernier

Thanks so much for the tips and information. I'll be sure to apply these tips.

Hey Everyone,

I am specifically targeting real estate investors in Georgia who have successfully used the BRRRR strategy. I am looking for any banks BRRRR you may have used and or recommend. Also if I do not necessarily need a Georgia bank to do BRRRR projects in Georgia please let me know. Any info will be much appreciated.

-Will

Calling all wholesalers in the area of Augusta, GA!! I am looking for an experienced and motivated wholesaler to add to my team for building a BRRRR portfolio in the Augusta area.

Hey Everyone. I am currently in the Hampton Roads area of Virginia and am looking for recommendations for contractors you investors have used when you are flipping homes in bad shape and/or fixer uppers. Who would you guys recommend for kitchen remodels, roofing, plumbing, painting, windows, etc. If you don't mind letting me know what they charged you for your various projects that would be a great help as well.

Will

@Ayana Miller Updates are that I walked away from the deal. It just didn’t feel right and I am much more confident now when analyzing a property. I kept my earnest money and am currently making cold calls on off-market properties on the Peninsula and the Southside along with keeping an eye on the mls. 

Going through my first one right now. It may not close but it has been a fantastic learning experience. It's a FHA 203K, and the seller is selling as-is and is not willing to make any repairs. Just had HUD inspections and termite inspections done this week. Estimated repairs are 37k. A few Class A contractors are saying it is not going to take that much to get it rentable. I sent a offer to lower the price down by 25k due to the estimated repairs done by the inspections. A lesson learned is to not send the reduction in price if you are wanting to walk away. I may lose my earnest money if they do not reject or counter. Either way this has been a great experience and it only makes all of us better to get out of that 9-5 job. Hit me up if you have any questions!

Hey Guys,

I'm getting into real estate investing by looking into multi-family rental properties. There are some properties I am interested in, but when I have spoken to the bank they are hesitant in those properties due to renovation costs. For example a property in a historic neighborhood which costs $350,000, the bank is worried about a renovation that would potentially cost $100,000. I emailed the banker this evening and they emailed me soon after with that cost estimate. My question is how does the banker know this cost right away? If I bring out a contractor to give me an estimate for the cost of the work, and it turns out to be less than the 100K, would the bank be swayed by this? The real estate agent also had concern about the properties that needed some renovation cost. The topic of FHA loans came up even though we discussed that a conventional loan would be the better route for me. Any help would be appreciated.

Will

@Josiah Patrick Zebarth

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