All Forum Posts by: Account Closed

Speculation at its finest.

Atlanta market, booked solid through March-May so far at $150 a night.

Yes, Texas investor here who bought 3 rentals in Alabama because of this fact.

Getting out of the long term rental business I only doing STR with my now one property.

Keeping only one SFH from my portfolio of 7 SFH (the newest one) a 2018 new construct that I bought in 2018 for $150,000 in Atlanta Georgia, near the airport.

4 bedrooms, 3 baths, 2,110 sq. ft. appraised at $170,000 in 2018. It was a long term rental when I put it on the market in 2018 and it had the same tenant for 3 years renting at $1,470 a month, cash flowing about $550 a month after expenses. The tenant did not want to leave when the lease was up and I gave notice that I was not renewing the lease. The tenant even offered to buy the property as they liked the house and area that much.

Living in Texas I contacted an Atlanta corporate housing management company who could run it and also had the clients to keep it occupied with executives, VIP's, and insurance company relocation family accommodations. 

I put $100K into the house flipping it into a luxury STR that now rents between $4,650 to $6,000 a month depending on the season.

The property has never been vacant in its 4 year history. After expenses I cash flow about $2,000 a month now and the property is now worth over $350K.

Yes, crazy prices right now. 

Our home (3 bed, 2 bath, 1,700 sq. ft. 2 car garage; 1993 construction) here in the Austin area we bought for $144,900 in 2008 and I got an offer of $488,500 in 2022. 

Not selling yet, as we live here and I just paid off the mortgage and I'd like to live a few years mortgage free. 

Do both!

I've got 1 long term rental, 1 short term corporate rental, 2 mortgage notes, and a portfolio of 11 high yield dividend stocks.

Having the opportunity to retire from a career I don't like, in order to do something else that I'd prefer to do, and at the same time not ever having to worry about money and having enough to pay the bills, or losing my job.

I'm currently selling my 3 Birmingham properties and cashing out as well.

I'm selling everything but my Atlanta house.

I can agree with Brenden about the Atlanta prices, as I got in the Atlanta market in 2016 when prices where low, bought in Dallas at $107K and Atlanta $150K. 

Those houses 5 years later are now worth $270K and $350K. Crazy!

Turnover is a profit killer. 

I had a house in Cleveland, Ohio for 4 years (2016-2020) and it had 4 different tenants every year I had it, and the cost of turnover averaged $5K to $9K every time. Painting was usually the biggest expense. 

I got out of that market and sold.