All Forum Posts by: Atta Bari

Hey Guys, Thanks for taking the time to go over the post and helping out.

I'm still a newbie in real estate and have started almost started in early 2019. I'm currently based out of Dallas, TX and couldn't hold of a deal so far. However, I'm happy that I offered contracts on a few properties but stick with my numbers which made sense to me and didn't get emotional.

Having said that, I'm moving to Atlanta by the end of August for work. My work is in downtown and would like to rent initially but in the meantime looking for the recommendations on the decent areas where I can do house hacking. I have got a family and couldn't go to a ghetto neighborhood. Any suggestions will be really helpful.

Thanks in advance.

Have a rental property in Albany which is thrashed by prior tenants and currently not in living condition. Two baths and two kitchens need to be repaired along with walls to be painted and carpet pull out. Any recommendations for trust worth contractors in the area would be grateful. 
Thanks

@Bruce Lynn Thanks for answering. 

Yes, Going to checkout with WS city about renting other unit. However, came to know that city is not allowing rental on mother in law suite on similar property like this and this is what i'm going to check with them first before i commit any deal.

I like the idea for asking them to consider changing zoning. Rental inspection and zoning is something also need to be checked with city?

Any idea how much zoning would cost and who is going to bear cost, seller or buyer?

Thanks

Hi,

Looking into a potential deal in white settlement, TX which has good cash flow and has two properties on the lot. Zoning is done as SFR and another unit at the backend is as a mother in law suite. Both units are set up as 3/2, but the mother in law suite is smaller than the main unit and has been rented previously for 900 and 1250 for the main unit. Utilities used to be split by the tenants and used to be on owner name.

All aspects look good to consider it as first investment property except mother in law suite. Concerned about if there is anything I need to aware which could potentially kill the cash flow. i.e hard to rent out the mother in law unit/main unit, utility distribution, hard to sell the property, etc, or anything that you guys think I should be aware of!

Thanks in advance,

Hi,

Looking into a potential deal in white settlement, TX which has good cash flow and has two properties on the lot. Zoning is done as SFR and another unit at the backend is as a mother in law suite. Both units are set up as 3/2, but the mother in law suite is smaller than the main unit and has been rented previously for 900 and 1250 for the main unit. Utilities used to be split by the tenants and used to be on owner name.

All aspects look good to consider it as first investment property except mother in law suite. Concerned about if there is anything I need to aware which could potentially kill the cash flow. i.e hard to rent out the mother in law unit/main unit, utility distribution, hard to sell the property, etc, or anything that you guys think I should be aware of!

Thanks in advance,

Hi,

Looking into a potential deal which has good cash flow and has two properties on the lot. Zoning is done as SFR and another unit at the backend is as a mother in law suite. Both units are set up as 3/2, but the mother in law suite is smaller than the main unit and has been rented previously for 900 and 1250 for the main unit. Utilities used to be split by the tenants and used to be on owner name.

All aspects look good to consider it as first investment property except mother in law suite. Concerned about if there is anything I need to aware which could potentially kill the cash flow. i.e hard to rent out the mother in law unit/main unit, utility distribution, hard to sell the property, etc, or anything that you guys think I should be aware of!

Thanks in advance,

Hi,

Looking into a potential deal which has good cash flow and has two properties on the lot. Zoning is done as SFR and another unit at the backend is as a mother in law suite. Both units are set up as 3/2, but the mother in law suite is smaller than the main unit and has been rented previously for 900 and 1250 for the main unit. Utilities used to be split by the tenants and used to be on owner name.

All aspects look good to consider it as first investment property except mother in law suite. Concerned about if there is anything I need to aware which could potentially kill the cash flow. i.e hard to rent out the mother in law unit/main unit, utility distribution, hard to sell the property, etc, or anything that you guys think I should be aware of!

Thanks in advance,

@Nathan Gesner
@Jeff Copeland

Just got more details from the seller and he said it's orignally a mother in law suite.

Only thing i foresee is the utilities, since there will be one connection and that is something i won't be able to charge them directly and have those billed over my name and then divided.

Any suggestions, if this is something legal or could have any issues in the future?

@Nathan G.

@Jeff Copeland

What you guys would suggest about the next steps if it's not zoned properly ?

@Jeff Copeland  I'm positive that its not zoned. But will certainly double check.

Do you see any downside in this case or any complication for the future while selling etc?

The only compelling factors about this propert is the cashflow, which is pretty much ~$500 after taking out all expenses.