All Forum Posts by: Rick Baggenstoss

@Erika Collins.  I work on lots of older houses.  I just assume the paint is lead-based and take the necessary pre-cautions.  No need to test just be careful with it (don't eat, wear respirators, clean up thoroughly, have drop cloths/paper down, and disclose it to buyers). 

Tenants aren't squatters and vice versa in Georgia.  Law has changed so it's much easier to deal with squatters.  

Since these are tenants, you're f'd.   Fulton is very backed up now that the systems are down. You might file in Superior Court. 

Georgia REIA is another alternative. There are about 10 meetings per month.

I'd suggest modeling the deal for 5 years or more.  Make sure you're both getting fair returns. 50/50 split would not be unusual, but it really depends on the deal.  

Find and negotiate the deal

Estimating, Due Diligence, Analyzing

Initial Financing

Rehabbing

Selling/Refinancing

Recourse or signing for the financing

These are all meaningful.  If it's a great deal at $500k with $5k rehab and no need for refinancing, then your structure will be totally different than a $500k deal with a $500k rehab. 

Georgia REIA is one of the oldest, largest REIAs in the country. It's a non-profit so it's member-led and focused on education and networking . . . not profit. There are about 10 meetings each month where you can meet others.

@Joab Cardona.  Find your local meetup in Rome.  It's a great market as I75 corridor continues to fill in between Atlanta and Chattanooga.   Make sure you buy where people really want to be and are willing to split a house for lower cost and convenience, e.g. near Berry.  

Good luck!

Go to zoning and ask 'what are my chances of getting this property rezoned to 8 unit multifamily?"

Looking forward to seeing you all next week.  Be sure to find me to say 'hi'.  If you can make time to go to Taco Mac afterwards, it's always a great time to network. 

He will be present.  This is an in-person only event.

Hi @Parker Bowden.  Welcome to BP!  What part of N. Metro?  I may be able to connect you with some folks.