All Forum Posts by: Arman Ali

 Hi Leonard - wanted to check in with your relationship with Platinum, how are they doing? 

 I am interested - please DM 

Hello –

I currently own a single family home in College Park GA with a lot of backyard space. It is very close to the ATL airport (about 6 minute drive) and think there could be an opportunity to rent to folks on a short term basis that need a place to stay before / after the airport. Wondering if anyone has had success doing an ADU Airbnb in the College Park area or any success with Airbnb generally in the College Park area? Curious how you were able to rationalize the investment and Airbnb strategy in that location. Any help very appreciated!

Best,

Arman

@Carini Rochester- thank you for your response. 

The contractor does not want me to move on with flooring without him. 

It is worth noting that the contractor "guaranteed" that the project would be complete in two months max, its barely 50% done with 2 months already gone. The fact that he lost his crew and needs to re-hire (which could take 3+ weeks), isn't that enough to continue working without him until he gets his team situated? He has already breached the contract by not fulfilling his promise on timing. 

My GC told me that he lost his employees and that my project would be delays 3+ weeks until he hires more people. 

I’m furious obviously - but want to keep this project going. 

I have a handyman that can complete the flooring installation and want to use him while the GC is away. After the work is complete by my handyman, I want to initiate a decremental change order and remove it from the scope of work from my GC.

Is this in my right to do? My GC is unable to work on my project but I can keep this thing going and buy him more time until he figures out his staffing. 

The GC has no overhead on the flooring work, there is no one onsite from his team that has worked on this nor any subs who are involved / prepared for this job. I am also the one buying and delivery the materials. Shouldn’t I be able to reduce the scope of work by the full amount of the flooring estimate? 

Lastly, it’s important to note that the flooring is about 10% of the entire scope of work cost. Does this impact anything? What kind of notice do I have to give? 

Looking to purchase a 6-unit property in Brooklyn. The building is rent stabilized. There is enough lot space and has R6 zoning to have an ADU.

I am not seeing anywhere that it would be illegal to have a short term rental in the ADU, is there a problem with this?

I know problems can arise if it were in the 6-unit building for shorter than 30 day rentals, but because the ADU would be detached, wondering if same rules apply.

I am looking for a GC to do a project ASAP. Must be willing to respond to my scope of work with line item bid for cost of labor and material 

Hello - 

I have a portfolio of 12 properties that need management. A decent chunk of this portfolio are vacant today and need immediate attention. 

I want someone who can find savings for me, a network of people to leverage for maintenance work, and has technology in place to help with tax reporting. 

Please reach out.  

All - 

I have purchased my first SFR and and challenged by the refinance portion of the BRRRR with interest rates going up.

One particular challenge is that Fannie May and Freddie Mac have a clause stating that you need to hold the property for at least 6 months before refinancing. Interest rates are expected to go up next month and I am trying to see if there are lenders out there that do not have this requirement. Any input helpful! 

Note: Wholesale transaction - ATL

I wrote a contingency in the purchase agreement that several thousands of dollars will be held in escrow until the current tenant has moved out, which will both agreed would be 15 calendar days post closing  

I later found out that this is not possible because notice to vacate was just given and current tenants have at least 60 days before a eviction process can be started. 

As a part of the notice, I saw the seller offered a lot of concessions such as a new property for the current tenants to move into, free rent, and $1k for moving sooner than later. I think this is a great deal for the current tenants but would like to know if it would be okay for me (the buyer) to contact the seller directly to see if his tenants are taking the offer. Is there anything illegal about reaching out to the seller directly and not communicating that with the wholeseller?