current atlanta deal
Does any of my fellow BP's have any idea how to go out about finding other investors to help with a deal I currently have under contract. Willing to do a JV or split the profits with another investor. If anyone can point me in the right direction, it would be greatly appreciated
Barrington,
you'd need to present the deal something like this:
Purchase: $x
Rehab: $y
Holding Costs and timeframe: $zk/mo including HOA
Selling Costs: 10% of ARV
Total Profit and Annualized ROI
Sounds tight or like a break even deal based upon your numbers. HOA and Holding costs are going to be higher on a condo.
The tighter and more credible your numbers and assumptions, the more likely you are to get a partner (assuming it's a good deal to start with.)
Rick
-
Developer
- GaREIA
Become a Pro member here and take it over to marketplace. The numbers look tight but depending on where it was in sandy springs...I'd fix it up, rent it as shared housing and sell out of it...just make sure there aren't any rental restrictions on the unit first.....Happy Investing!
FYI - on the master, we'd get prob $750 to $850 for it and the 2 rooms sharing the bath would prob go for $650 to $700...just depends on the unit. It will cashflow better, the net rent will be higher and the resale value will be based on a cap rate applied against net rent....
@Barrington Ferguson Jr if you're looking for a partner here you will need to post in the Marketplace. Other places to look for a partner are local REIAs.
Thank you all for the input. I really do appreciate