All Forum Posts by: Jorge Borjas

I got a condo in Seasons Parkway, Norcross GA 30093 FOR SALE and I'm asking $40,000. The condo is a 2 bedrooms, 2 bathrooms, 1437 sq ft, built in 1987. It needs about 25k in repairs and the market rent in that area is $1,000 to $1,100. All in you could be around 70k cash flowing pretty nicely. NO HOA! If interested, send me a PM and we'll talk and send you more pics.

Rehab seems about right. ARV is way too high though. I know the area pretty well and with a nice rehab you might get 240k, but can't push it.

@Kalimah Jenkins very nice! Hope it works out for everyone. He's great.

I used Philip Beggs with Moore Ingram Johnson & Steele, LLP in Marietta GA.

He oversaw a couple of promissory notes for owner financing and contract for purchase and sale. I like him so far. He'll charge you for sure for any consultation but he's good. They are knowledgeable. Look him up

@Ethan Summers If I you don't mind me asking, how were you able to find working phone numbers for 90% of the leads you were targeting with direct mail? Which services/subscriptions are you using? I've been using Spokeo but 90% of the phones listed there are not working numbers. Thanks for your help!

@Asim Alam Where is the SFR? Is this a package deal or can you split it?

On the corner of Vicksburg Trail & Old Virginia Trail (Woodstock, Cherokee County) we have 3 lots, 0.5 acres each. 2 are build-able so you get one for free. Older houses in the neighborhood are median around 160k and go as high as 185k (sales price). With "as-is" houses going for a bit less. There is new construction within a half mile with houses in the 200k-225k sitting on lots this size or smaller. These lots are all side-by-side and take up the Southeast corner of Vicksburg & Old Virgina Tr in an "L" shape. The unbuildable lot is facing Vicksburg and has a "wet weather" creek running through it. The two build-able ones are in the corner facing Old Virginia. Within 8 minutes of Town Lake in Woodstock. Houses assigned to Woodstock Middle and High School.

Restaurants: Mi Casa Mexican Restaurant, Thai Ginger, Tuscany Italian Restaurant.

COMPS:

http://www.zillow.com/homedetails/20-Bascomb-Carme...

http://www.thesquireteam.com/Land/5752413/FRM/7263...

http://www.zillow.com/homedetails/1113-W-Pine-Ridg...

Drive by and submit offer by sending me a PM.

Jorge A. Borjas

B&R Investments and Construction, LLC

Thank you both @Terry Burger and @Travis Hughes for your input on this matter. In keeping with the purchase of land for new builds, what is a good rule of thumb when pricing land for a new build? 20% of Retail value? 

Thanks!

@Andrew David Evans Welcome to REI! If you really want to do this right, I suggest you begin networking by attending the REIA meetings. There are several in Atlanta, including one in Canton, Marietta, and the future one that Jered sturm mentioned. This is key. I have had a great start by attending and meeting some great people that have offered advice and others that I've been doing business with. Remember to always come to the table offering value. We all have value to give, like BP's @Brandon Turner and @Joshua Dorkin have said, we all a competitive advantage that we can bring to the table. Focus on adding value to others and value will be returned to you.

Where are you in your process of investing? Are you ready to buy a flip and fix it? Or are you gathering all your resources to begin. 

Let me know if you have questions. 

To all builders, investors, agents, etc.,

Are there any negatives to buying a piece of land that has no sewer access and thus needs a septic system built with the house? Is this reason to pay less for the lot? Ideally, I need to know from investors familiar with the East Cobb and Cherokee County areas of Atlanta. Also, how much can I expect to pay for a percolation test?

Thanks!