All Forum Posts by: John Patterson

Another far fetch thought. What if all of these flippers and new Home sales are driving up the costs of homes. Maybe the deals that we are thinking are too high are really not the top. In some ways we are refurbishing the past and gradually, moving to more milion dollar homes. 

If total Home inventory is low, and demand and price are  going up, then the market is going to go much higher. The key wil be if the incomes/ and cash will rise to meet it . Or will foreign interests start buying more of our real estate to raise our inflation rate? 

As a common man , flipping for us will not be from wholesalers or auctions. The problem is always from finding the deals. The only advantage a smaller entity such as ourselves have is to hunt down local backdoor deals that has owner problems and not house problems. 

The big boys are moving toward new construction. These jobs will produce larger cash flows with newer (upscale ) markets with the need of future flippers.

True Flipping has always been around and it will stay around. But in perspective , We are the 2nd tier of the construction industry compared to the larger newer producers. So long as regulations allow the small man to flip houses, then this industry will stay active and viable.

Viking, Miele, Bosch, and sub zero ....should not be used. 

I’d suggest add an owner finance deal, an option , or a lease option deal for a quick buy and flip .if you can make one of these deals . Even making 5,000-7,000 on a low or no money down can take away some of the heat in a rental market. 

Hi Josh, 

We do decks. We are a full turnkey builder and Gc. For the northern Atl. market. How big and where are you wanting to build?

Cobb holds well but deals are hard to find. Cherokee has lower taxes , lower crime, medium inventory, but commute times are the harder sell. Both of these areas will be difficult to harness cheap deals, but there are pockets of reasonable  and creative deals. 

After heavy consideration, I have a client who is ready to do a short term rental for his condo. 

This is a high end 2 story, 3500sf, 2bd , 3.5 Bath (with a convertible 3rd bedroom/ media room.) and the value is around $1.2-$1.4 million on the retail market. It’s an A+ property. 

We even added a 900sf clear retractible roof to conceal the lounge and pool area for inclement weather. 

This property is in the heart of Buckhead, Atlanta Georgia. Great access to everything and it is a condensed mini mansion. It’s a perfect concealed rock star pad for layovers. 

I’ve serviced and managed  this place for the last 8 years as his personal contractor. Now I want to see what I need to arrange for Short term renting. 

Currently, I’m trying to verify his Hoa to see what is prohibited. 

The owner has another home and  travels. This way he can still come back to town and check in on certain days. At the worst,I can update some of the home ,and he places it on the market to sell. I don’t mind handling the management, but I’m sure there are others who are much more astute at helping in a proposition as this. 

@Eric James short term lease rental , with a long term lease exit strategy. Unfortunately, you will have to have high interest on this transaction for it to be a long term contract. 

Unless it is true plaster, I would 1/4” overlay drywall, 2 coat finish finish , sand ,  prime , Touch up, and paint. Especially, if it is a small room like a powder room.  

I can’t beleive it has gotten this far and no one has said it.....

Apply your real estate knowledge in it most primordial form  It’s gotten you this far. So simple. 

“Why buy , when you can rent?”