All Forum Posts by: Kyle Jones

@Lola Og @Lisa G. @Anjlia Holiday I'm meeting up with another BP member on the west side this Sunday at Taco Mac at 2pm to discuss flipping, rehabbing, and rental properties in Atlanta. You all are welcome to join us. I'm going to outline what I went through to get my 1st property and the ups and downs I've faced getting it finished. I even have photos. 

Anyone else in Atlanta on this thread is welcome as well. 

@Lola Og do you plan on BRRRR or just a simple purchase instead? New Western has properties they send out. Some are pretty good...others overpriced based on area and return. Always go back to the calculators on BP. Those are the most amazing tools.

Craigslist also offers some pretty good deals in your price range. 

I would stay local. It's easier to deal with problems that arise. Are you planning to use a PM company or do it yourself? Do you know your price range? Have you had a chance to use the tools BP offers to calculate deals? 

I'm currently flipping a property in Atlanta. The biggest thing I can tell you is to have some money set aside for issues. Something WILL happen unexpectedly. It's the nature of the game. It's ok to be conservative in your approach. Even Robert Kiyosaki turns down 99 out of 100 deals. Be patient and do your due diligence. I'm always open if you want to chop it up. 

How much do you know about cost estimation for repairs? You don't want GC's ripping you off. 

Are you planning to do parts of the rehab yourself?

Start extremely conservative. Rehabs will cost you way more than you expect most often. I had $40k in capital and still ended up doing some creative financing b/c the hard money lender hit me with an 80/20 instead of a 90/10 as promised. 

You can get better funding if you partner with someone who has at least 2 properties completed under their belt. I will tell you this though: Don't go through Sherman Bridge Lending. I have a contact who can work with you to get you the money you need if that's a desire. 

As far as meetup groups, try Atlanta REI. It's not the west side, but it's worth the drive. Vince Crane runs the group and they truly have a desire to help beginners. I'm in Douglasville as well so if you want to link at Taco Mac and chop it up, just let me know. I'm at the end of my first flip right now so I can break down everything we went through to get to this point.

-Jones

...and this is why I love BP. Tried and tested results with pure honest for feedback. Thanks everyone for your responses. I saw an ad and wanted to know more. I'm always reviewing creative financing methods but I'll pass. 

@Bill Hyland I have something you may be interested in. 

I will tell you this much--if you're going to BRRRR, you better have a good contractor that knows what they're doing by your side. There is so much that goes into rehabbing a property that these ridiculous tv shows don't tell you at all. Just understand that something WILL go wrong with just about every property lol. If you're able to weather the stupid stuff that happens, you'll make it. Prepare yourself for a rollercoaster ride my friend. In the end, it's SO worth it though.

I've been looking into private islands lately for future investments. I'm interested to learn the process and ideas behind making it lucrative. 

They (SBL) are easily one of the worst companies I have dealt with PERIOD! I'm in a fix and flip with them and I'm highly disappointed in their process. They reduce the percentages given by inspectors to try to hold back rehab funds for completed work. Why? I believe it is to simply have you resubmit for another draw to earn more money in fees. It's an atrocity! They need to get their crap together. 

Great info for future considerations. Thanks for this.