All Forum Posts by: Lateefah Mathews

@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. 

@Murray Reginald I totally get where you're coming from. I help investors with that business credit strategy also, and the key here is sticking with the BRRRR strategy. As you mentioned, with BRRRR, you can cash out refinance and pay yourself back. When you pull out the equity during the refi, that's how you'll pay off your business credit debt, as long as it covers your initial investment and closing costs.

The challenge is that if the refi doesn’t cover those debts, it could be tough to pay off the business credit without running into cash flow issues. That’s why I always advise using large amounts of business credit only if you have an exit strategy, like a fix-and-flip or a BRRRR with a cash-out refi. 

@Fawzi James Jr  Welcome to the world of investing! West Marietta and Powder Springs (especially near transit or with finished basements) can be great entry points for your house hack. Prices have risen but remain more stable than other nearby markets, and rental demand is strong, especially in certain West Cobb neighborhoods. Growth is steady, not overheated, and room rentals perform well with the right setups. Michael's right, you will need to occupy the property for 12 months with a 5% down conventional loan.

 @Sandro Figueroa Here's the good, the bad and ugly with Gwinnett, inspectors can go beyond just the scope of your permit...especially if it’s clear work was done without permits. That bonus room and laundry setup might get flagged, depending on who shows up and how they’re feeling that day.

Sometimes they only check what you’re pulling a permit for, but other times they’ll want to see it all and could ask for demo to inspect behind walls. It’s not guaranteed, but it’s a risk. As I mentioned before, you can always call Gwinnett directly... dont give them an address, just pretend like you're looking to buy a home and need this info before proceeding.. Good Luck!

@Joshua Kavadi Hey,  I think I saw a post of yours about contractors before. Have you not found one? I’m gonna give you a quick call and share a few solid recommendations,people I’ve worked with personally and who’ve helped some of my clients. 

Look forward to chatting with you!

Welcome to BiggerPockets, Cade!! Love your energy and drive especially jumping in early while still in school. Do you have a strategy in mind yet? Like, are you thinking about house hacking as your entry point or exploring something else? 
Atlanta is a solid place to get started, and there are so many creative ways to invest. I’d be more than delighted to assist however I can and would love to hear what direction you’re leaning toward!

@Shaheen Ahmed I’m in alignment with Taylor’s comment... although I might be a little biased as an investor-focused agent. Your best bet is to find a trusted, investor-savvy Realtor on here. They’ll help guide you through the process, assist with calculations, ARVs, and ensure you’re getting into the right deals. Having the right team in place can make all the difference!