All Forum Posts by: Account Closed

@Liron Fabin what area(s) of Birmingham are you interested in? What’s your buying criteria? PM to discuss further.

@Denise Evans thanks for this info! Heading to check out your blog now. ;)

I’m a firm believer of it it’s too good to be true... I also figured it must be some new loophole since I’m seeing so many of them all of a sudden.

@Ricardo Nieto I would suggest she pursue the other tenant or the boyfriend to reimburse her. Since he essentially moved into her position as the second roommate. IMO

Hello BPers,

Hope all is well, and your families are staying safe!

I’ve recently been focusing on finding more deals virtually these days, and have been looking into surrounding markets.

I’m finding an abundance of Tax Lien Certificates up for grabs... in Alabama specifically.

I was wondering was there some new legislation that makes these high risk or worth-less? I’ve searched these markets periodically before and maybe ran across one here and there (being marketed), but now the market is flooded with them... from multiple sources?

Why are they being unloaded? Any insight is greatly appreciated!

Great fix n flip deal in N. Kirkwood. Local investors know there’s not much inventory left in one of Atlanta’s Most sought after neighborhoods. Experienced investors get this one before it’s too late!

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The Deal:

Presley Way NE, Atlanta,GA 30317

3/1

1314 sqft

8712 sqft lot

Asking $299k

———————————————-

Light Reno/Update/Add Bath -$40k est budget

ARV $430k

Pop The Top - $125k est budget

ARV $600k

New Construction - $250k est budget

ARV $745k

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Comps:

258 Norwood Ave NE 5/5 3178 sqft

Sold 5/2019 $749k (new const)

286 Norwood Ave NE 4/3 2958 sqft

Sold 10/2018 $725k (new const)

254 Norwood Ave NE 5/4 2900 sqft

Sold 5/2019 $589k (add on)

240 Emerald Pl NE 3/2 1355 sqft

Sold 2/2020 $433k (light reno)

————————————————-

House on same street last rehabbed 2015

2022 Presley Way

4/2 2424 sqft

Currently listed $675k

————————————————

***This property was listed at $330,750... get it NOW deeply discounted at $299k.***

*$2500 EMD within 24 hrs of accepted offer*

Cash, Hard Money, Private Money only

Please DM, email, call or text for more info.

@Colette Parratt

A 1br Condo can be successful, but be sure to know the bylaws of the community.

If you are planning to arbitrage, i suggest going with a house and be completely open with the landlord about your intentions.

I don’t recommend AirBnb in an apartment especially if it’s not completely cleared with management. We arbitraged a Studio that was completely booked for three months out. Cash flow was great but we did get shut down after 4 months. Luckily, we made enough to cover our original investment.

To answer your question, you should budget $5-$7k for acquisition and furnishings. We found most on estate sales, Facebook Matketplace sales, let go, and Offer up. If time is on your side eBay, Amazon, and Wayfair are great sources.

Best of luck,

Will G

Best of luck

@Jaron Walling

Yes this would potentially be my first new construction/development venture.

As I mentioned, I’m aware there’s no meat on the bones on just the house. I only looked deeper because it’s in an area that my wife and I would potentially like for our family home.

My question was about the additional land/lots and what to do with it.

Thanks for your statement.

@Seth Holmen

Thanks for the detailed questions. Definitely a lot to consider.

I have a meeting set for next week with the agent. I’m going to go to the city prior to our meeting to gather as much info as I possible beforehand.

@Greg Dickerson

That definitely gives me some direction as far as next steps and DD. I wasn’t sure if I wanted to buy the property and sell off the additional lots, or more ideally, partner with someone to complete the project, because this is inline with my investing goals.

Thanks for you input!!

Good Day Investors,

In my recent search for my next deal, I've come across a potential Game Changer!  I was originally looking for a flip or wholesale deal.  I found a deal that, on the surface, doesn't appear to have much potential. However, Its in an area that my wife and I are considering moving to, so I decided to give it a deeper look.  After doing my due diligence, the opportunity appears to have enormous potential.  

The Deal:

Currently listed with @ 160 days on market

Historic Bungalow/Cottage/Ranch, Located @ 35 min outside of Atlanta, GA                                          

4/2  1780 sq ft (on tax records)

Needs @ $25-30k to updated/Rehab with same/similar floor plan

Asking Price $240,000

ARV @ $225,000

I know... Terrible deal, right... Not so fast... Here's the Kicker:

The property sits on 9.8 acres.  The listing shows a plan for adding a road and sub dividing into 9 or 10 additional lots.  The area has tons of New Construction subdivisions surrounding it. Recent Comps are ranging from $200k to $310k depending on finishes and amenities!!  The property is zoned R2, which to my understanding is "Rural away from commercial dwellings". 

A little about me:

My experience includes multiple wholesale deals, Partnered on a couple of light flips (silently, not involved in the day to day), and some Air BnB. Needless to say, this project is far beyond my scope and level of experience. I wouldn't feel comfortable tackling it alone.  It is however in the direction I have been wanting and planning take my Real Estate Investing.  If I were to peruse this deal i would be seeking a partner that would be willing to let me learn from them along the way, the ins and outs of completing a project of this magnitude.   

I'd love input from you all... specifically, on things I may be overlooking, questions I should be asking, other city/county/state records and permits I should be researching.  Also, is there anything I should be weary of when seeking out partners for this type of deal, and any input on how it could be structured would be greatly appreciated.

Looking forward to hearing from you all, and TIA!

Best, 

WIll G