All Forum Posts by: Shane Stevens

Rural Area outside of Atlanta, GA

I have been listening to bigger pockets, reading as much as I can on the internet, and watched HGTV in preperation for the big day when I find a real estate deal......Well, I think that deal just fell into my lap and all of a sudden I seem to have forgotten everything I thought I was soaking up.  

The Deal - My wife told me last night a friend of hers who is a real estate agent told her about two buildings for sale that had 3 condos in each.  She said each building could be purchased for $200K and each unit inside the bldg would rent for $600/mnth.

I did a drive-by and looked up the property on the public County Tax website and it appears each bldg has 4 units in each; NOT 3.  

1. Is this a good deal?
2. What questions should I ask about the property?
3. Any other advice?

Hello Bigger Pockets Community.  I have listened to 80% of the podcasts and a few two and three times.  There is so much info here.  I am really excited about learning as much as possible and moving toward action.  I live about 1.5 hrs east of Atlanta in the Lake Oconee Area. It would be great to meet investors that know these areas. 

I would like to find what I think are good deals and bring them to an investor who will in turn show me why it is NOT a good deal or why it IS a good deal. The only other thing I ask for is access to the deal from beginning to end so I can see the real life process of a profitable deal. I am not expecting compensation right now, just the education.

Brandon,

I would think your exterior wall assembly probably has cedar shakes over some sort of sheathing (plywood or osb) and vapor barrier such as tyvek or felt paper and maybe even rigid insulation. I agree with Minh, drywall is fairly easy to repair compared to dealing with all of that.

A couple of more thoughts...If baby bird can't fly it should be at the very bottom of the wall, so you could just cut a handhole just above the base trim (not farther than from hand to elbow) but if you have batt insulation in the wall, then it will be harder to find where to actually cut the hole. The bird could be stuck anywhere between the floor and the ceiling between two studs........I am sure you prefer to only patch one handhole instead of many, or one large trying to find the little tweeter.

Good Luck!