All Forum Posts by: Brad Woodall

The Mountain REIA (part of Atlanta REIA) group meets the first Tuesday of every month at the Golden Corral on exit 14 in cumming at 6:30pm.

There is a "mountain reia" meeting this evening at 6:30 at the golden corral in cumming off exit 14. That's right up 400 from Alpharetta. I'll be there tonight.

Congrats! Have you setup a webpage for them to visit as well?

I just ordered my first round of postcards last week from YL.

There's a possibility that the next buyers bank would request another appraisal with a different appraiser that they use and it might appraise higher. However, you might end up back in the same situation again where the appraisal comes back low. Then you just need to hope that you find a buyer that likes the property enough where they will front additional money down.

We had this situation last year when we were looking for a new personal residence, we found a house we really liked but the appraisal came back waaay low (200k on a 250k sales price). The sellers agent made a big stink about the situation and my lender agreed to pay for another appraisal. It too came back low. The seller wouldn't budge on the price so we backed out. I wasn't willing to pay that much for the property over what it appraised for.

The house looks nice in the pictures. Looks like you did a good job with new finishes.

Just a quick cursory look at recent sales in the area shows that you're an oddball in terms of sq footage and # of bedrooms. I only see a handful of properties under 1,200 sq ft and a few of them are forclosures and pre-forclosures. Looks like another 2/1 flip down the street sold in '14.

Can you add some sq footage to the home? and a bedroom & bath? I would imagine construction costs in that area are kinda high so the numbers might not work. It looks like 3/2's in that area in the 1200-1500 sq ft range are selling in the low 200's. Again, that's just a quick cursory look at recent sales on Zillow. I don't know your area very well so I could be totally off.

I wouldn't consider myself "active" as i'm also getting started but I'm local to you. I live in "Ball ground" / Macedonia near the intersection of hwy20 & east cherokee dr. Welcome to BP.

I'll be there.

Congrats on passing. I'm planning on taking my test within the next month. I plan on hanging my license with solid source. They come highly recommended by members on BP as well as a family member of mine who's retired and still does part time RE stuff. They're very investor and part timer friendly.

Here's a link with some info to read.

https://turbotax.intuit.com/tax-tools/tax-tips/Rental-Property/Real-Estate-Tax-and-Rental-Property/INF12039.html

Oh I also forgot another con. This past year the condo associated decided to come up with some BS fee for the non-owner occupied units. We now have to pay a $130 per year "Leasing administration fee" for the privilege of being about to lease the unit. That cuts into the cash flow a little bit.