All Forum Posts by: Ian Porter

yes I work in Cobb County. Alec send me a message with what you’re looking for

I worked with Kiavi on a flip and all things considered they were fine to work with. They did need some pushing to get the loan closed quickly but followed through on their part throughout the course of the loan. 

@Doug Smith thanks for that detailed explanation. I will give you call this week as I clearly have a lot I need to wrap my head around when it comes to raising capital. 

Thanks Abbey! It was a tough one but very rewarding.

@Jake Andronico  thanks! Yes my company Porter Construction Group did the work. I don't swing the hammer much myself anymore but I still was back then. 

@Josh Bowser the property has two creeks on it actually. The larger is Conasauga creek

Investment Info:

Single-family residence fix & flip investment in Decatur.

Purchase price: $190,000
Cash invested: $100,000

This home was a originally a 3 bed 2 bath 1200 sq ft home over an unfinished daylight basement. I bought this as a househack when I first moved to Atlanta to live upstairs and rent the basement on Airbnb. I spent about $75k total to finish the basement into a completely separated space with 1 bedroom 1 bathroom and a full kitchen with oven and dishwasher. I also invested about $25k remodeling the kitchen, livingroom, and painting the exterior.

What made you interested in investing in this type of deal?

This was my first house hack and I wanted to earn money on the property while also building equity through renovation.

How did you finance this deal?

A traditional mortgage product with a renovation loan packaged in.

How did you add value to the deal?

Finishing the basement into a full apartment and remodeling the first floor.

What was the outcome?

Made about $1000/ month in income through the basement and sold for a large profit.

Investment Info:

Single-family residence fix & flip investment in Decatur.

Purchase price: $190,000
Cash invested: $100,000

This home was a originally a 3 bed 2 bath 1200 sq ft home over an unfinished daylight basement. I bought this as a househack when I first moved to Atlanta to live upstairs and rent the basement on Airbnb. I spent about $75k total to finish the basement into a completely separated space with 1 bedroom 1 bathroom and a full kitchen with oven and dishwasher. I also invested about $25k remodeling the kitchen, livingroom, and painting the exterior. It rented super consistently on Airbnb and after about 2 years I decided to sell so that my fiance and I could buy a house together.

What made you interested in investing in this type of deal?

This was my first house hack and I wanted to earn money on the property while also building equity through renovation.

How did you finance this deal?

A traditional mortgage product with a renovation loan packaged in.

How did you add value to the deal?

Finishing the basement into a full apartment and remodeling the first floor.

What was the outcome?

Made about $1000/ month in income through the basement and sold for a large profit.

I am going to be building 2 spec homes in Atlanta in Q4 2023 and Q1 2024. I need to raise around $150k and I am willing to be flexible on terms of interest and profit share criteria. I have several lenders willing to lend 80% LTC on the projects. 

Investment Info:

Single-family residence fix & flip investment in Clarkston.

Purchase price: $265,000
Cash invested: $185,000
Sale price: $501,400

I really fell in love with the character of this 1948 home in Clarkston, Ga. I was the third flipper to buy it and attempt to complete the massive project. We didn't make money on this deal since the market took a massive turn with the FED raising rates 3 times during our ownership (rates doubled in 4 months). Still super proud of the finished product as we completely reconstructed the first floor, finished the basement and added square footage.

What made you interested in investing in this type of deal?

The home had so much charm even through it's disgusting current state. I wanted to bring it back to its former glory.

How did you find this deal and how did you negotiate it?

I found through a wholesaler

How did you finance this deal?

Hard money and a HELOC

How did you add value to the deal?

Complete remodel and finishing basement