All Forum Posts by: Javier Beuzeville

I accepted a prospective tenant's lease and deposit after doing due diligence. The previous leasing company confirmed the resident had paid their rent on time every time. The tenant paid his deposit in cashier's checks and left his account ledger from the previous leasing company (No clue why) showing he had fallen behind on rent payments for 4 months. There is also a mismatch on what he was paying for rent versus what he disclosed on his application (previous rent was lower). What are my options in the state of Georgia - specifically Atlanta?

I agree with some of the commentary above. If the numbers make sense and the equity is there after the build, I would say pull the trigger. My experience is 100% here in the states but the market here is so high and deals for rehabs are harder and harder to come by. So a few things to consider: 

1. Your equity after construction 

2. Do you have a trusted contractor (If you don't, my personal opinion would be to start with something else OR be ready to pay top dollar for an exceptional well vetted contractor/GC). 

3. Will it cashflow? 

4. Will the land allow you to build a detached unit, or otherwise on the property that will give you greater cash flow. For example in my particular market one of the neighboring cities allows us to build dethatched dwellings. 

Out of curiosity if you're going to the trouble of building new why not build something that is multifamily and increase your cashflow?