All Forum Posts by: Kevin Polite

This is for a mid priced flip (Atlanta) was thinking of Ferguson. Anyone use them?

Are the Plumbing Supply places better and/or cheaper than Lowes/Home Depot where are the best places to get your tubs, faucets, etc

I tried Craigslist and found my contractor that. He tech savvy, has a website, insured & licensed and doesn't try to charge homeowner rates. in Atlanta you must have a GC to get a permit. Any job requiring 5 figures I ALWAYS get a permit. I haven't tried REIA, but an agent told me every time he is out previewing homes and sees construction he'll get out and introduce himself look around and if he likes the quality of the work he'll ask for a card or get their info. I found my last GC this way. I would have still used him, but for each project his prices went out, which is why I tried Craigslist. You do have to watch out for scammers on Craigslist. I had one guy ask me for the combo to the lockbox before we even spoke. Another way is DON'T give your phone number. Craigslist encrypts your email and when ad appears they don't see your email. I may have missed some folks who don't have email, but I figure in this day and age any GC who doesn't probably can't handle a full remodel.

Welcome Abroad. It's all relative. The $30k properties will need a ton of work, but all aren't in terribly bad areas. The $100k-$150k that need maybe $10-$20k seem to be the sweet spot especially for Blackstone which are buying everything the can get their hands on in the price point.

Thanks. Great! Good to know.

Would the County know our property is a 4/2 and not a 2/1 as is recorded

We have a buy and hold that we'd like to pull out cash from. When we purchased it was on the tax books as a 2/1, however, the previous owner had expanded it to a 4/2. We only did clean up work, painting, etc. so we didn't have to pull any permits so we are still being taxed as if it's a 2/1. If we pull out cash will the county now record that it's a 4/2 and our taxes would go up?

I have mixed emotions on Section 8, but there is no room for emotion in investing. I have 3 rentals near Atlanta and all rent for or over $1,100. I looked into Section 8 here and the county where they're located only allows up to $950 for a 3 bedroom. I would get calls from potential tenants saying I'll pay the difference between what their voucher pays and my rent. This is illegal and if you accept it and they don't pay there is nothing you can do. A home that I now rent I lived in for 2 years and across the street were 2 Section 8's. Out of 110 homes all the problems were with those 2 homes. Luckily the owner defaulted and responsible homeowners purchased. I think there should be some additional responsibilities with Section 8. Like you must do community service or volunteer as a cross walk or something.

@Maleyah Cole Welcome. What areas in Atlanta are you looking to invest.

I have a relative that lives over there and when I visit I feel safe, but its all relative and depends on your comfort level. Atlanta school system and with the prices and rents you should be cash-flow positive. Its more a working class neighborhood. There was a lot of mortgage fraud during the boom, which is a shame because I saw a lot of potential. Even had one home featured on Curb Appeal.

Tons of deals over there as has one of the highest foreclosure rates in the city. Check out Sylvan Hills on the otherside of the main road that goes past it