Atlanta, GA · Member since 2017 · 45 posts · 6 votes
Opportunity awaits you. Riverside Neighborhood Opportunity
Purchase (contact me)
Rehab 123k
Arv 400k
This Deal is in a hot neighborhood with very supportive comps. Also there is tons of rehab action going on in the Riverside community. Action on almost every street.
Message me and let's discuss.
Atlanta, GA · Member since 2017 · 45 posts · 6 votes
9y
Its about the same here as well. I am actually selling this property. I already have the property. High demand on the properties. So sometimes we find some at 70% but its tough and very competitive. Have any of you ever invested in the Atlanta Market. @Manolo D.@Shawn Ward
Contractor · Atlanta, GA · Member since 2015 · 236 posts · 91 votes
9y
Is this the one on Edwards drive? If so, good luck with that, that has sat for at least 1 yr. I looked into that one, there are liens on the house, unpaid subs, all the framing done is crap now, and it's going to be more than $125k to finish.
Atlanta, GA · Member since 2017 · 45 posts · 6 votes
9y
@Adam Abdel-Hafez I have contractors bid at 123k and thats not to shy from 125. Never closing on anything with unclear title so far as liens are concerned that would suck. It was a falling out of a partnership. So I would not put that pass any house. Also did you run title?
Contractor · Los Angeles, CA · Member since 2015 · 4k+ posts · 1k+ votes
9y
Regginald Lewis Nope. CA is more easier money. You need lots, but go big or go home. Make 10% on a 1M is 100k, make 15% on a 250k is 37.5k. Same amount of paperwork/effort, same risk. There are more money than deals nowadays. 123k is your base charge, don't forget the oops or oh that's not included factor on contractors.
Contractor · Los Angeles, CA · Member since 2015 · 4k+ posts · 1k+ votes
9y
Regginald Lewis There are work around on liens, if they filed it themselves, half of it will fall apart or not hold in court. Or you could wrap a bond around it but bond company will go after you once the lien has merit. That will save you time and offer protection to the next buyer. I'm not scared of liens, I know CA has 90% failure rate, failing to serve paperwork during the first day is usually the case. I use a lien service company for all
my liens for small commercial clients, if my lien doesn't have merit, i'll turn around and sue the lien service company, either way I get my money. Most investor grade contractors aka two men and a truck and tools don't know how important that is.
Atlanta, GA · Member since 2017 · 45 posts · 6 votes
9y
@Manolo Correct on the base charge its really only subject to decrease with subbed out work. Depends on the contractors the guy I work with write up that the price will not go over unless its a personal choice from the investor. Also we are working on a partnership with Home depot to receive deeper discounts on material so that more savings. Pretty confident that it will be 123 or lower.
Atlanta, GA · Member since 2017 · 45 posts · 6 votes
9y
@Manolo I like how you think. Again "Go big or go home". Yeah this may end up being a in house project so if someone wants to take it off my hands sure if not the renovations being done. Next time I am in California , well LA you can expect to hear from me.
Contractor · Los Angeles, CA · Member since 2015 · 4k+ posts · 1k+ votes
9y
Regginald Lewis Knowing investor grade contractors and horror stories I read in BP, just don't put your hopes up. Higher margins and higher grade investors on higher price points can afford better contractors, light commercial or ground up types. I hope that the 123 will hold up, but protect it well. Home Depot has a bid room and so does everyone else, a bill of materials will help, at least you get 90% of the materials listed there. There is one that cold called me last week or two ago wanting to earn my business from Wayfair Business, I sent them plans (not even BOM), I have yet to hear from them but the questions they asked were professionally driven that it spiked my interest and the soon to be account manager sounds like she knows what she is doing. I asked for single delivery date of all items in ground level and quickly she said no problem. I hope it works out, they'll be my go to shop if it does. And, they also offer to beat all competitor price. lol.
Atlanta, GA · Member since 2017 · 45 posts · 6 votes
9y
@Manolo D.Thanks a lot for the shared experience. It will work out, it always does. That will be awesome if they stick to their word and they beat your competitor.