All Forum Posts by: Kevin Sowers

Why not just take one on yourself? Go someplace like Rome,Macon where you can buy something inexpensive and oversee a light to medium rehab. Then get a tenant and manage it yourself or find a competent PM. If your comfortable stepping out to start your own company whats holding you back from giving this a shot?

Good points. People need to be following the FED. Every once in a while look at the "dot plot" . Whatever your entry cap is --I would add in the cumulative rate increases projected into your "exit multiple " assumptions.  Most the buyers on this board have seen 9years of low rates+the yield curve is very flat. Buying a stable/no upside 6 cap at last years rates and selling in 4 years at future rates is going to leave a lot of levered ppl upside down 

Send a FedEx to every member of the historical commission. Document the issues and how your helping remove blight. Copy the mayor, the city council person in the district. Any other person in a position of power. You need to elevate your complaint above the problem group. Include pictures.

Ill add my good luck to you as well. You should know the market in your area as well as anyone given you live down the street. Absorbtion in ATL is very good- stuff moves quick there. The house price is certainly higher than the median but thats right in the power alley for a very large group of buyers. How is it possible to buy a house at a 35% discount to the ARV in a tight/large metro market? Your average buyer does not like projects but thats a seemingly large arbitrage you have identified. In other words, the numbers almost seem to good to be true. I live in NYC- stuff like this just does not happen. Good luck