I am preparing to make a couple of offers on wholesale rehab/flip or rehab/rent properties in the West End and College Park areas of Atlanta. I am seeking to interview a few General Contractors willing to hand hold a newbie through my first rehab/flip and one that has the ability to look at a potential property and make suggestions when asked to make recommendations and proposals for a $50,000 budget, for example. In other words, one that can size up my budget and assist in making the best choices for rehab to ensure highest return. Not asking much, am I?
I would appreciate any suggestions, along with any of these types who may also wish to be a partner for an equity split in net profits.
Hi David -
@Aaron McGinnis is a good contractor, especially for newbies. He'll teach you a lot (as an investor/contractor). He did my house in the West End.
I can size up your budget for you. A good rehab house in Historic West End should cost about $40k - $50k for a 1920s 1700sf, 3BR/1BA. $60k- $100k to rehab and take 5-6 months to complete. ARV of $175k - $190k.
Buyers in the West End are typically getting down payment assistance so it will likely take 90 days to close and 60 days to go under contract, so from close-to-close, it's a longer cycle.
Thank you Rick, I will contact Mr. McGinnis. The 2-3 properties I have in mind fit fairly close to the general budget numbers you outlined.
Happy to help if I can.
@Aaron McGinnis I found a flip that I think will work in 30032. Came across this thread...I'm looking for a contractor to help with an estimate and hopefully to hire for the project.
Happy to help if we can. Feel free to drop me a line.
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