All Forum Posts by: Josh Bowser

Hey Mike - I'd take a look to see how fast things are moving in the individual neighborhoods. I'm seeing renovated inventory sit, then trade well below list in a large portion of the ATL metro. 

In theory, it would make more sense to maximize value through the retail route and enter a combined exchange, but finding the right buyer for all three in GA + 1 buyer in Iowa could be a better return on brain damage.

Good news is there is still a lot of cash out there seeking yield.

Hey Boris - how big of a rehab are you wanting to take on? Shoot me a DM - would love to chat

 Kennesaw, Acworth, Woodstock, and parts of Marietta

Hey Ryley - welcome to BP. My wife and I live in Kennesaw and spend a lot of time in Cartersville! We love it.

Where is your flip at?

Hey Chaine - what do numbers looks like here for section 8 rents vs. total rents for all of the rooms individually?

Room rentals will operate with higher expenses so please keep that in mind when you're making the decision. There is a time factor that needs to be accounted for as well.

In my opinion - you will need to be able to reasonable achieve 2-3x the rents vs. the alternative for room rentals to be worth the squeeze.

I'd check to see what other folks are renting individual rooms out for to see if it makes sense diving into.

Hey Aditya - you're seeing what everyone else is seeing my friend.

Long term rentals are not likely to cashflow with today's rates, rents, and prices. 

We are having success with from a positive cashflow perspective is rent by the room through platforms like padsplit here in Atlanta. It's the only strategy I am seeing right now where 12%+ CoC is possible.

Our team has done 50 or so deals like this in the Atlanta market this year and over 200 over the past 3-4 years. Feel free to reach out if you have any questions!

Hey Austin - check out Padsplit, Homerome, or Alcove. These are all 'rent by the room tenant brokerages'.

Hey Jose - if you're working with $15k i'd examine your local market to see if there is an opportunity to house hack if you want to work solo.

If you're opening to partnering - I'd reccomend attending your local REIA meetings to see who is looking for a partner / capital. OR see who in your network has the capital, wants to invest, but doesn't have the time to do so.

I have seen individuals looking for $10k - $1mm at these types of meetings and there is more money out there looking for deals than there is actual investment opportunities at this point in time.

Please reach out if you have any questions!

Hey Sharon - I hope you are well!

I'm originally from Western PA as well (Slippery Rock) and now reside in Atlanta.

Here is how I am looking at it along with the assumptions I am making:

1) I think the growth prospects are better in the Atlanta market than Pittsburgh from a pure demographics standpoint.
2) I estimate your return on equity at 7.2% currently

3) Over the long haul appreciation is going to take you further when it comes to net worth than cashflow will

4) Doubling of the roofs is doubling the expenses

Things to consider:

1) What is the year built of your Atlanta property vs. what you could replace it with in PGH?
2) 7.2% return on equity is pretty decent in today's market. Can you go out and increase that comfortably in pittsburgh?
3) Do you think you would like owning rentals in Pittsburgh more than Atlanta? The emotional / confidence factor does matter when it comes to conviction to hold over the longhaul.
4) Are you improving or decreasing in the quality of area you are going into in order to acheive this cashflow in PGH?

Would love to chat through this situation with you as I am always pulled to invest in Western PA when student rentals pop up near SRU. Shoot me a DM!

Thomas - please send me the details!