All Forum Posts by: Matthew Nicklin

If this is your first eviction, even if it is not...You may want to engage the services of an eviction company. I have used Alpha Evictions several times and they have done a great job. They provide movers and often times work directly with the sheriff to schedule the set-out. The number one reason I use an outside company is to limit liability. These are professionals and they know the laws and also if a tenant has an accusation of theft you can completely wash your hands of it as an eviction company handled the set out(Not you and 4 of your friends). 

@Account Closed What is the goal of the group? If you make the goal clear and provide value to the group people will want to join. 

@Account Closed are you proposing a meet up? Or what are you looking to do?

@Carlito King I live in Woodstock and I am a licensed Real Estate Broker. I have done a few buy and hold deals around Woodstock and one wholesale deal earlier this year. This area has grown tremendously recently. What would you like to know?

Similar to @JD Martin I would look at it from the usage view point. One of the condo associations I am involved in uses http://watersignal.com and I would highly recommend it. It works great and has already paid for it self as we have been able to find leaks quickly. 

Just send you a direct message with a referral. Other thing to keep in mind is to make sure you have proper liability coverage. At the very least your insurance company could help with legal council if an issue were to arise. I agree with @Marian Smith you may want to take some pictures or video to document things. Also take detailed notes on any repairs that were made to resolve trip hazards etc. 

Yes The County tax assessor website is going to be what you are looking for. Look up the owner and find their name or LLC, they should also have a mailing address located there. You can search around and see if you can find their phone number, if you can not find their phone number I would send them a letter. If you send them a letter make sure to include that you already own the neighboring property and the details so it doesn't blend it with wholesaler letters etc.

@Jordan Whitworth

Have you seen who owns the vacant property? Have you researched if there are any liens against the property? Maybe you can reach out to the owner and see if they would be open to seller financing or some deal like that. Just remember it doesn't hurt to ask. 

What advice are you looking for specifically? Financing, Area, Property type, etc? 

@James Mcgowan Sure I can give all the number for that deal, but this is by no means a standard deal. I was able to get the property for about 50% of ARV due to some crazy circumstances, so I don't think it would be fair to compare to your average deal. So I will use ARV just to give you an idea if you had to buy the property retail.

ARV-$180,000

Rent-$1,375

Taxes- $1,325

Maintenance Allowance/reserve for CAPEX-(10% of gross rents)-$1,650

Vacancy(One month)-$1,375 

NOI- $12,150

Cap Rate without debt service- 6.75%

So numbers are not that great at full retail but again my cost basis is way lower so my numbers are much better. I would say this is about average or possibly just a little low for class A and B property around Atlanta right now. As you mentioned the numbers may look far better for class C but you will likely have more problems to deal with. I would agree that Atlanta is a great place to be a landlord but I would not say the numbers are "unreal". The numbers were far better just a few years ago when prices were lower but rents were still high.