All Forum Posts by: Dieggo Goncalves

Those are awesome deals. What is happening in Cartersville to drive up the prices? Is it only because prices is Atlanta have increased so much that people are having to move farther away, or are there other fundamentals?

Thanks in advance.

Originally posted by @Joe Cassandra:

Last couple deals over last few months (note: I'm just a bit outside "metro" ATL in Cherokee and Cobb and Cartersville, but market is just as hot)

- BRRRR PP $122k, repairs 8k, just appraised for 207k (rents for 1.5k)

- BRRRR PP $80k, repairs $500, arv 120k (rents for 1k)

- closing on another BRRRR PP 122k, repairs 3k, arv 190k-200k (rent 1450)

- Just "flipped" a house in Kennesaw. Bought for 78k, just de cluttered for 1.5k, listed on MLS and sold yesterday for 150,500. (house needs about 60-70k which I didn't want to do). ARV probably 230k. Guessing they'll just rent it or they'll try and bump the comps (which that's too risky of a strategy for me).

-------------------

All off-market deals I sourced.

As proven by my last deal there, trying to buy on market at 75-80% arv - repairs is impossible. I don't even look anymore.

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Originally posted by @Lauren Speidel:

@Dieggo Goncalves The primary residence exclusion can only be used once every two years. Be mindful of that as you sell both.

Got it!

Thank you for your response.

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@Lauren Speidel

Hey, sorry about invading the thread. I have a similar question on this topic.

I lived in a property for 2 years, then bought another one and rented out the first property. I have been at the new place for 2 years. If I sell both properties now, do I have to pay capital gains taxes for the first property?

Thank in in advance.

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@Ricardo Reis

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Atlanta, Georgia

Just out of curiosity (ignorance) what is in Rome to attract good tenants??

I've seen very cheap properties listed in that area so never looked into it, just assumed it was
a bad area.

Thanks in advance.

Originally posted by @Jasmine Grier:

Cartersville, Calhon and Rome are very hot markets that are outside of Atlanta. I have a rental property (duplex) under contract right now! It's growing and Atlanta I would say (Cobb, Fulton and Clayton) would be great areas to focus on. Never underestimate the Atlanta Market, great deals to be found.

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There is a Duplex in Marietta that’s been sitting on the market for awhile asking 170K. Might be worth a deeper look.

Originally posted by @Daniel Snyder:

Thanks for the insight guys! I'll keep at it, and I hope I can get a great deal in the area here over the next few months. Are there certain markets I should be looking at in particular in the Atlanta area? Where are most people flocking to?

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Atlanta, Georgia

Will do.

Originally posted by @Charlie Anne:

@Dieggo Goncalves keep us posted on your progress!

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I’m still in the appraisal contingency period. Plan to do as much as possible myself and hire out what I wouldn’t risk doing. Full rehab to match some nice high end rehabs in the areas would run me 70k+ if hiring contractors

Originally posted by @Charlie Anne:

@Dieggo Goncalves I’m mainly looking for 3/2 ranches from 1960+.

What did you end up spending for the cosmetic rehab on your 3/2? And what was done?

Sounds like I need to add more rehab budget into my estimates.

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Numbers sound too good to be true for the location, size and rehab costs. I’m completely new to REI, currently have a fixer upper under contract, I made offers on 5+ properties on the MLS that needed work, I actually took contractors to bid on the rehab before making offers. The cheapest rehab was on a 3/2 brick ranch, full cosmetic at almost 35k.

I’d be happy to stop by and take some pictures or take a closer look for you if you’d like. With covid, I’ve had more free time than I’d like. lol.

Originally posted by @Charlie Anne:

@Brenden Mitchum thanks for the feedback!

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You should have a knowledgeable attorney write one up that will protect YOU. It will be worth the money.

Originally posted by @Yoana Yordanova:

Hi everyone, as a newbie into the business there is a lot to learn and organize, so I was wondering if anyone has a good Contract for Atlanta area I can peek in? I do have a pretty good one but it is in another state and I need to check what are the regulations and differences for Atlanta, GA. If I am to put a house under a contract, what would be necessary to include in the contract so it can comply to State Regulations. Thank you

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All Forum Posts by: Dieggo Goncalves

Dieggo Goncalves has started 0 posts and replied 156 times.

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