All Forum Posts by: Byron Scott

Hey BP I have an appraisal question...

I am starting out and I have a triplex under contract. On the county records it says it has 11 rooms 3 bedrooms.

When I walked the place it has 5 bedrooms 3 baths. Is it worth renovating to make the unofficial bedrooms official bedrooms? 

I'm doing a 203k loan and need to appraisal to be high as I can. Will making these rooms official bedrooms improve the appraised value? 

@Jim Goebel

Thank you so much for the advice. I will look into those things. 

And I was named after the basketball great. Parents were watching the NBA finals in 1988. Dad is a Lakers fan.

Hey BP,

I am completing my first deal and I am planning on managing the property myself. Can anyone give me suggestions for managing? I was trying to find property management software but don't know what to go with. How should I go about collecting money? Communicating with tenants and inspecting the property throughout the year?

I'm a newbie starting out. I'm trying to find a contractor in the Atlanta area. I am in the process of doing a 203k rehab loan on a duplex in Villa Rica, GA. Any advice or recommendations would be great. Thanks!

@Craig Curelop or anyone. I am preparing the rehab a duplex. I am using a fha 203k loan. Do you know anything about benefits of including some energy efficient stuff? or any other things I can add to my rehab that would improve value or create benefits? Thanks!

Hello,

I just purchased a duplex in Villa Rica, Ga in Carroll County. I'm looking for a licensed general contractor in the Atlanta/Douglasville, Paulding area that wants to bid on remodeling and possibly additions. Please share contact info and pictures of previous work and/or references.

@Rush Wall  

How do I check for zoning? Do I contact the tax assessor? Is it worth dividing? I know I've stayed somewhere and the apartment complex sent me an electric bill as part of my rent. Can I track electricity and do that somehow?

@Spencer Cornelia

Thanks for the advice I definitely will have to work on marketing this property. I do have wife and kid so I won't be getting a roommate. My wife is a photographer tho so I could get her to do pictures. I agree with you on self manage then look to pass it off. That's something I'm going to try to do. Thanks!

@Nichole B. I am working a full time job as well. But I do want to try managing and if it doesn't work out for me then I will lean on property management or some type of property management for help. I am hoping to be able to manage myself tho. Thanks for the comment. 

@Luciano A. Thanks for all the advice. Do you think I'm off base with thinking 80k can convert a 2/1 and a 1/1 into two 2/1 and 1/2 units? The rest of the property is getting normal updates. I also have to replace the roof and repair electrical problems. I have a contractor that walked through it and said I can get it done with 70k. I am getting 3 contractors to come Monday and Tuesday to give me bids for just the remodel and repairs without additions. Then for the remodel, repairs, and with additions. I have never rehab so I don't know ballpark estimates without something going way wrong.

@Charles Kao Thanks for the feedback. I'm in Villa Rica, GA right outside of Atlanta, GA. Comps for rentals are 800-900 on 2 bed 1 and 1/2 bath. The property was built in 1988. I am trying to take care of most of the capx things with my rehab (new roof, repair electrical, also will check other things like water heater HVAC and stuff. What are rental certs? What is the average cost in a suburb/rural area? 

I'm coming to biggerpockets because I'm new. I don't know anyone in the area. I have been reaching out and trying to get to know people but haven't found anybody I can talk to ask questions. 

Plus biggerpockets is just one more set of people to have an opinion. Even if I don't take any of the advice, I'm sure people on here know way more than me and will bring up things I haven't thought about. Thanks for responding. Need any feedback I can get.