All Forum Posts by: Rick Baggenstoss

@Anthony Ives. How did your friend come by the land?  Is $750k correct, that's a hefty price tag as if the basis was $0 and short term gain.  What did you do with the land while you had it?

@Arie Sharon I grew up between Chattanooga and Manchester.  I'd vote for Chattanooga before Manchester for appreciation.  Manchester is too far from Nashville to really be a suburb.  It's more of a stop over, mid-sized town with a more vulnerable economy than Chattanooga.  

Murfreesboro and Chattanooga would be more similar as far as attractiveness.

Congratulations! Sounds like a great investment - i love properties with an ADU. They are my most lucrative.

I'd encourage you to rent out the main dwelling as a long-term rental first.  If you are ready to go for it, emphasize it as a mid-term rental.  There's just so much to learn, it would suck to furnish it for $10k, the find out you have the wrong strategy for the house.  

@Jason Paredes. Welcome to BP!  I hope your offer goes well.  

Just curious why you're targeting this particular property in Acworth.  Is this your first Airbnb and/or first rental?

I prefer the Westside.  It's blowing up faster.  Decatur is steady. 

Unpermitted work was the norm for a long time in Dekalb, for example.  There were almost no permits except for new builds.  This was not even that long ago.

In City of Atlanta, it's been much longer since permitting was really required. However, I bet a bit less than half of work requiring a permit is actually permitted.

I like 3rd Party engineers to sign off on an area requiring a blessing.  That assures homeowners and transfers liability to them.  Dekalb and CoA both allow named 3rd parties do inspections. 

@Javon Wilson. In Atlanta, I'd buy a duplex.  Triplexes are very rare.  Also, I'd emphasize location and square footage over units. Your ability to find tenants will depend on the location and space.  

My first house was a 5BR house hack.  I lived for free.  

@Clay Adams   What appeals to you about these markets?  They're pretty different. 

@Chris Momongan. How and when do you get paid?  Sounds like never or years from now.

Hi Monica - If your numbers are ok on Rose Circle, hang on! There's a lot of big plans in the commercial pipeline for Murphy Crossing, Lee St, and Lee & White.  I think Rose Circle will benefit greatly.  

I have rentals in the area and each year the demand grows.  The only problem is the houses become valuable, taxes go up, rents go up more moderately, and I feel pressure to sell/exchange and get my yield up. 

Good luck!