All Forum Posts by: Josh Bowser

In the Atlanta market - not sure if 3-5% really affects anything for a 'snapshot in time'. The new builds on the market won't be impacted. Future supply may dwindle but we're already seeing numbers get tight for devs on new projects with rates.

If population growth continues.. it's just going to drive prices higher due to supply tightening or folks will start buying in cheaper areas.

Tariffs are likely just a talking point when it comes to rehab margins.. From what I have been seeing.. labor > material costs for most reno projects. Can you make the argument that labor will demand higher wages due to increase in prices? Maybe? but labor has demanded a lot since covid.. I think we will be okay there.

If things get really tough - decrease in rates might just make up for everything from an affordability perspective.

Hey Kyle!

Baseline reno costs for a 1750 sqft home for a coliving conversion is roughly $45k. That's paint, floors, additional frame out, rerunning electrical & duct work, and furniture. 

Roof $8-$12k depending on foundation / surface area
Condenser $6k
Furnace $8k
Full kitchen reno $15k
Per Bathroom remodel ($4k half / $7k full)
Bathroom addition ($10-20k depending on slab / crawl / finished area)

This is broad but you can knock out a conversion between ($45k-$90k) depending on scope. Just shoot me over the house and I can ball park it for you - i've seen a ton of these conversions completed and can refer contractors that know the space.

Cynthia - awesome would love to connect!!

I'm an investor focused agent out of Kennesaw and TBH I can help my clients with everything but STRs.. Would love to send over folks in your direction that can help on the STR side of things.

Reaching out in DMs!

John - come to GAREIA events and you'll get connected with the right people. There is a multifamily and commercial even that meets once a month - that'll probably be a good starting place for you. 

https://gareia.com/

Latresa - do you have this deal under control?

We use visually sold for all of our listings. Locally owned / operated, very professional, and have awesome service:

https://visuallysold.com/

 Shane - which counties / towns are you active in south of Atlanta?

Through Padsplit - average duration of stay is right around 11 months over the broad market in Atlanta. Personally, we've signed room rental leases for 6 months and kick it over to MTM after that in Kennesaw. In all honesty, it's going to be dependent in your particular area and why people are moving there. I've heard of folks having no issue sign short term / mid term leases in areas like Newnan, Fayetteville, Peachtree City ect.

I think you'd be hardpressed to sign yearly room rental leases and not sure you would want to either for flexibility reasons - however, you might get someone on a MTM that just wants to stay.

Cade - great speaking with you the other day my friend. You have a bright future in the RE world if you keep after it. 

Keep doing what you're doing and putting yourself out there!

Carlos - congrats on the success so far!

From what I am seeing/hearing, there is room rental demand just about everywhere in the country. Great way to test demand would be to poke around Facebook housing groups in your area to see what rooms are going for and how many people are on there looking for rooms to rent. You can even post a 'tester' listing on FB marketplace/Craigslist/Zillow/furnishedFinder ect to see what demand looks like.

I work with a ton of Coliving investors in Atlanta that operate on the padsplit platform - lot of demand here due to the discount you can rent a room for vs. going out and renting an apartment.

If rents are relatively expensive in Cape Coral - good chance there is a lot of demand for individual room rentals.

@Michael Dumler - do we know anyone in the ATL market that specializes in VA loans?

Justin - Give me a call and walk me through what you're trying to do (number on profile). We can likely find someone that can better assist you at the bare minimum.