All Forum Posts by: Rick Baggenstoss

Every landlord, future landlord, and tenant should read this.  https://www.dca.ga.gov/sites/d...   It's the go to guide for Georgia.  What county are you in?  You can file paperwork for eviction through a service provider like evictthemforme.com   Not sure if they cover your area.  They do cover greater Atlanta and hook you up with an attorney.  If it's a really messy situation, then you'd need to hire an attorney separately.  This is a high volume, by the book shop with not a lot of consultation.

I think your assumptions are reasonable.  Your particular property will greatly affect the amount.  For example, a house hack on Lake Lanier would have higher vacancy than in the city.  Maintenance/capex on a 50 year old will be different than a 10 year old home.  

Often in a house hack, the owner is doing a few of the fixes so there are fewer maintenance calls.  If this were non-owner occupied or if you were not going to fix a couple of things, then your maintenance is low.  More people --->. more maintenance.

To avoid spending / or not spending on the wrong things, you must look at other condo/apartment rentals in the area.  If you see that certain features or finish level justify the investment then do it, but you should not do a big renovation before then.  It also helps to market the property for rent (as a trial), see how many good inquiries you get.  If there's demand for the property as-is, don't change it. 

There are all kinds of meetings in Atlanta.  

-  Last Night - the GaREIA Small Commercial Group met with CEO of Bull Realty, Michael Bull

-  Saturday -- there's a meeting to view a rehab on a rental 

-  Every Wednesday - 30 or so full time / serious investors chat about landlording issues at Dealmakers

-  Vince Crane has a fun evening-time meetup, monthly, usually at Scofflaw.

-  There are some regional meetups like South Atlanta, Cobb County, W. Ga, Mountain area, Athens...

-  There are a few local Masterminds for experienced full-timers

-  Later this month, I'm hosting a midday meet up a high end rental in Decatur

-  Creative Financing group - reviewing deal scenarios using a financial calculator next week

I'm sure there are many more, some are part of REIAs (clubs that have regular meetings), agent-sponsored meetings, and non-affiliated stuff just for networking.  I think it's a great idea to go to as many as you can and see where your people are or topics of particular interest.

Now is not a great time for arbitrage in the City of Atlanta.  They have revamped the code to greatly limit STRs.  Unless you are an Atlanta resident, I'd stay away from it as a strategy.  

Great!  Looks like a great deal for everyone.  I'd love to hear more about it.  I own a church in Atlanta. 

As a real estate professional, you should read about the zoning laws changes nearly eliminated small multifamily houses -- making most areas single family.  These smaller multifamily dwellings are now often referred to as the missing middle.

Atlanta's small multifamily, like many cities, are concentrated in the oldest neighborhoods.  Very few will be younger than 1940's.  Eight to ten units popped up in the 1950's, but that was the last of these smaller developments.

This is gonna sound biased because I'm the President of GaREIA, but you really need to join a REIA. Your situation is going to drag on for some time. You need weekly advice from others in Cobb County getting assistance for tenants and handling dispossessory in local court. Funds for tenants seem to come and go, so local experts make a big difference to ensure you're quick to apply.

You should file thru evictthemforme.com.  They'll serve the tenant and connect you with an attorney who handles your area.  

Your other option is to observe Magistrate Court Dispossessory Hearings in Cobb (on Zoom, I think) and pick from the attorneys handle landlords cases. They tend to specialize and handle multiple clients.

I love the house, the strategy, side benefits of the vacation home, but I think the decor is WAY short of it's potential. It would do so much better with a few thousand spent on the art, decor.

Yes, you can't lock out the tenant before they have moved out-- the lease continues as a hold over until legally terminated.