All Forum Posts by: Lateefah Mathews

No, selling with a tenant in the house isn't necessarily a bad idea. As long as you give your tenant proper notice and they’re ready to move out by closing, it can work. If you’re selling to an investor, they might actually prefer to keep the tenant for cash flow. You can also work around the tenant’s schedule by setting showings for times they’re not home, which keeps it easy for everyone.

@Christine Mulkins That’s a good one. I’ve got all of Robert’s early real estate books in my library, classics. But the two that really lit the fire for me were Flipping Properties by William Bronchick (2001 edition) and Tax Lien Certificates by Jim Yocom (2002). Throwbacks for sure, but those strategies flipped everything for me. You couldn't just Google this stuff back then...it was pure gold! 

Hey all! 
I’m a licensed agent working with several cash and hard money buyers ready to close on off-market deals in Georgia.

I’m looking to connect with wholesalers who are direct to seller, not reassignments or daisy chains

Target Markets:
Marietta, Alpharetta, SW Atlanta, Tucker, Chamblee, North Gwinnett, Mableton, Vinings, Smyrna, Decatur

Property Type:
Cosmetic fixers, teardowns, and buildable lots
3–5 bedrooms, 1500-2500 sqft, 1960s or newer preferred

Acquisition Range:
$250K–$600K

We're actively sourcing now and open to JV or referral fee arrangements on any deal that closes.

If you’re working a strong lead or have something under contract, feel free to shoot me a message here on BP. I’m ready to move quickly and close deals with the right partners.

Looking forward to connecting.

@Misael Herrera Granados Hey hows it going! Full discalimer first, I'm not familiar with Kansas landlord-tenant laws,however mold is definitely a serious issue. If the tenant decides to withhold rent or take legal action, this could lead to the property being condemned until the mold is remediated, which could cost you even more in the long run.

If the mold remediation is too expensive, selling AS-IS might be the way to go. You may have to adjust the price accordingly since you'll need to price it based on known issues. Just make sure to give your tenant ample time to vacate if you decide to sell.

If you have equity and don't want to lose it, another option could be to look into a HELOC, but you'd need to check if selling or a loan even makes sense in your market because you may end up with prolonged days on market. But if it's a hot market and properties are moving fast, it could be a good choice. If you decide to sell, start searching for a realtor ASAP!

Ko’s right! You need someone who's local and experienced preferably an IFA who’s familiar with construction timelines, can report back weekly with photos, and understands what should actually be happening on-site. I offer this here in GA for out-of-state investors with an a la carte fee structure. If it’s just weekly site visits, that’s priced by time. If they want full PM support, that’s a different rate. The key is defining the scope and expectations upfront. And honestly, most agents are more motivated to manage the process if they’re also representing you on the buy and resale...it makes it a true win-win.

Welcome aboard Farid! Assuming you're just getting started, so here are a few sites you can use depending on the type of data you're looking for.There’s no one document that I know of, but these should help :

NeighborhoodScout: for crime, schools, and local trends

City-Data: for demographics, income, and migration patterns

Redfin/Zillow: for active listings, price trends, and comp snapshots

@Shayan Sameer  Hey there, I’m a bit biased  since I’m a Georgia based IFA, so I’m going to reel you back into familiar grounds, and here’s what I suggest:

Macon: Offers a great mix of opportunities, it's affordable and I’ve seen renters stay in properties for up to five years or longer. It's on the rise again, making it a good choice for either strategy.

Douglasville: It's gaining traction and has easy access to Atlanta & the Airport  making it a great choice for both markets and offering longterm stability.

Now, since you already have your crew in place ( I'm assuming here) it doesn’t really make sense to jump ship into a new market when you're already familiar with the dynamics of the Atlanta area. Both of these areas outside the city offer great potential for both those strategies. And there are a few additional cities I'd recommend depending on your acquisition price point. 

@Kerry G. Welcome to BP! Ashview Heights is definitely a noteworthy area, and honestly, because it’s still affordable compared to a lot of other areas in Atlanta, I say it’s a perfect place to get your feet wet. Sales prices have jumped recently, which is a good sign. Even though the market's a little sluggish right now, that’s happening in plenty of pockets around the city. Since you're looking at using it for a rental, that actually will work in your favor. Also, Ashview Heights is part of the Westside Promise Zone, which means more growth and improvement is coming. And yes, I agree with your daughter... the colleges aren’t going anywhere, so investing close by is going to be a smart move.

@Kyle Trotman  I think it's awesome that you’re breaking down your projects by rehab level – that’s a strategy I  recommend to clients, and it’s super helpful when getting contractor quotes. It also helps you run your numbers more efficiently. Based on my experience here in Atlanta, and from multiple contractor quotes across different-sized projects, here’s what I typically see for rehab costs per square foot:

• Heavy Rehab: $100+ per square foot, plus an additional $200+ per square foot for any added areas (like extensions, popping the roof, etc.).

• Medium Rehab: $70-$80 per square foot.

• Low Rehab: $50-$60 per square foot.

These numbers should help with your back-of-the-napkin math to get a feel for the deal or decide if you want to pass. 

As for quick analysis w/o bids...I recommend walking the property in person. Pictures online just don’t show the full picture...like structural issues or hidden damage that could murder your budget. If you can’t do that, at least try to get a feel for the property from every angle. Use your square footage and apply those rough rehab cost estimates to get a ballpark idea.

Using a DSCR loan or a Bridge loan depends on the project, but Bridge loans generally have higher rates. You would pay 20% on the loan amount, so if you borrowed $160K, the fee would be $32K, not $40K.

Yes, with the cash-out refi after the rehab,  you should be able to pay off the business credit debt if the refi covers all your costs.