All Forum Posts by: Jenny Sun

Hello! I have a house I have under contract that has quite a few weird electrical issues that need to be fixed. The electrician installed several outlets and switches with reversed polarities and used an incorrect gauge wire in the breaker box. 
I'm curious if anyone can recommend a good electrician that will work in Candler?

Thanks @Colten Powell ! I'll reach out to him. 

@Colten Powell Timely post! I had a deal fall through and looking in the same area. The Upstate CREIA is great and meeting virtually. They’ve been a wealth of information.

I am also looking for an investor-friendly realtor.

@Jason Pennacchio Very cool! I'll have to look into how to calculate ARV!

@Jingru Sui That’s awesome! My realtor has a specific focus on Gwinnett, so I haven’t really looked in other counties.

Hello @EMarie Windham! You know what? I am seriously new to real estate that I don't know what the ARV is on the property...I have much to learn!

Hey there, @Jingru Sui! It’s so great to see someone else in the Atlanta area. We’re currently renting the unit out for $875, we started at $850 last year. It’s been cash flowing well for us.

What areas have you invested in?

Hey, @Renaud Schmitt! Thank you! I haven’t done a whole lot of research in the Atlanta market because I’ve been getting pretty frustrated with my searches as well. The Stone Mountain area has gotten more pricey over the past year and I feel we got lucky with finding the property. I believe we are renting the unit out for $875 at the moment.

Let me know when you move to Atlanta!

Thanks, @Jason Pennacchio ! The property is on the south side of Stone Mountain. We’ve had it for a little over a year, and I’ve only visited it once...right after closing.

Do you have other properties in Georgia?

Investment Info:

Single-family residence buy & hold investment in Stone Mountain.

Purchase price: $64,000
Cash invested: $25,000

My first investment property! JV with a family member.

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

Purchased through a property manager/realtor. They negotiated on our behalf.

How did you finance this deal?

Conventional loan.

How did you add value to the deal?

Put $6k in rehab into the property. Painted the kitchen cabinets, switched out hardware, updated the flooring.

Lessons learned? Challenges?

With the right property manager/realtor combo, this has been an almost hands-off experience. We've learned some lessons about HOA dues, taxes, insurance, having enough money for unexpected expenses like a plumbing issue.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes.