Frame and finish a L shaped wall in the current recreation room wall approx 7' long x ~18" deep.B.Remove door to "office" and open wall to frame out closet, or just close off.C.Remove wall separating bedroom and office (wall is ~7.9 long)D, F, G Close off 3 interior doorsE.

City of Atlanta and Fulton County Tax dept work completely separate from each other.

Bonus: Find homes that can be easily divided into 2 units (e.g. main house upstairs with separate downstairs area including bedroom, bathoom, wet bar and separate entrance).

For example, if you have a garage, basement, or storage area that’s not in use, rent it out separately to a tenant or even a non-tenant for additional income. 

Here’s the situation:Key Project Details:•Property Size (pre-renovation): 250 sq. meters (2500 sq. feet)•Purchase Price: 250,000 EUR (1,000 EUR/sq. meter)•Renovation Costs: 750 EUR/sq. meter (includes kitchen, appliances, quality furnishings)• Loan costs (during renovation and renting): 350 sq. meters (due to attic expansion)•Property Size (post-renovation): 350 sq. meters (due to attic expansion)•Post-Renovation Layout: 2 separate apartments•Airbnb Income (24 months): 2,500 EUR/month/apartment (= 5,000 EUR/month)• Other running costs: 600 EUR/month•Projected Sale Price (after 2-3 years): 850,000 EUR (approx. 2,500 EUR/sq. meter)•Closing Costs: Negligible in Tbilisi•Real Estate Agent’s Fee: Typically 3%, but negotiable based on who hires themFinancing Setup:•Property Purchase Financing: 100% bank financing at 5.9% interest (bank has even financed 150% to cover some renovation costs in the past)•Renovation Financing: Our friend is offering to finance 250,000 EUR in cash for the renovationsProposed Partnership Structure:•Work Involved (on our side): Full renovation (10-12 months to complete), furnishing, and property management through Airbnb until the sale (2-3 years)•Profit Split Proposal: 60% (us) / 40% (friend providing renovation financing)Questions for the Community:1.Does the proposed profit split (60/40) seem fair, given the work we would handle (renovation, furnishing, property management)?

@Gabriella Pellolio I can’t speak to the strategy with LLCs, you should probably talk to a CPA but I think generally they would recommend that you have a separate LLC for your interior design business versus your real estate investments.

When I separated late in 2022, I knew real estate was the path for freedom and have since added the last 2 Airbnbs in Lubbock.

Real Estate is not an emotional business but rather a numbers game.

For a portfolio of that size, I'd want 10-15k in a savings account specifically for my rental portfolio, IE separate from your personal emergancy account.

Alot of the best deals (especially off market and i mean actually off market) are done with emotions.