All Forum Posts by: Manesh Hardeo

Great rental opportunity here in Metro Atlanta in Ellenwood.  If you'd like to view please contact me on how to do so.  This property is being purchased through auction and apparently the bank decided to rehab it some more since we've contracted it, so it may be close to completely read (although didn't need much upfront).

Call or email me for further details on viewing.

Thanks,
Manesh
Direct:  404-987-8644

Hello all,

I'm the broker of a firm called Networth Realty and we specialize in distressed SFRs in Metro Atlanta.  We are looking for more investors looking for properties to flip or rent.  We've worked an incredible amount intown, near the beltline, and even providing solid returns for rental property. 

We have hard money available at 70% LTV with no minimum requirement down and can offer 1% flat fee services after your property is rehabbed if you're a flipper.

Call or email me today about how to get added to our list! 

@Kyle H.It was due to a point load and it did affect the framing.  When we redid the roof we had to redo a few of the trusses.  

I ended up firing the contractor on Thursday.  Before our meeting I had a premonition to add up his line items.  On 2 of his bids he sent me one was inflated by $7500 and the other $5800!!  Wow -- considering I'm in a spot to give him a lot more business that was a very stupid move!  So, I have a few more bids getting done.  It's not a whole lot left, so we'll see if we can get it done within the next 30 days including the time to find a new contractor.  

If you guys have any Atlanta recommendations I'll be happy to speak with them.

Good idea Michaela.

Yes, that makes sense Richard.  Thanks so much!  I'll shoot this idea over to our contractor.

@Richard Balsam I cant figure out how to get this picture right side up, but you can see how the line on the ceiling from the fireplace to the center wall slopes downward a couple inches.  Any ideas would be greatly appreciated! The contractor is going up in the roof to see if we can trey the ceiling somehow.  

Hello all,

So, here is another deal that we picked up.  It was sinking pretty bad in the middle of the house and we couldn't sell it on the wholesale side, so we opted to purchase it ourselves and see how this would workout.

Located on Vesta Ave, Historic College Park 
Purchase Price:  $75,900
Rehab:  Estimated $35k
Estimated ARV: $150k preliminarily, but subject-to appraisal came in at $167k. If this was 3 streets over it would probably be closer to $200k!

We closed on December 10th and started the rehab about a month later. 

Here are some before photos:

So, they've started the rehab.  We've had a structural engineer say the foundation is sound and shouldn't be moved and my contractor isn't very good.  So, I may be firing the guy.

To date, we've put in new woods, leveled the floors using the self leveling agent, put a new roof, new furnace, redid the master bath, gutted the kitchen, opened up a bar and extended the opening between the dining and living.  I'll get updated pictures soon.  

My biggest concern is how to make the ceiling look straight...the very first thing you see when you look up is a crooked piece of crown molding.  The door frames and everywhere else is squared.  So, obviously someone came in here rehabbed it at some point, and then ran out of money or got foreclosed on...not really sure.

We have some challenges ahead for sure. We'll see how this next week goes.

Enjoy,

I've been with Networth Realty since before we were Networth dating back 12 years ago.  I have a few thoughts to share...

Wholesalers get a bad wrap and I do understand why.  Numbers are generally put together by an acquisition associate and can vary, but we try as best we can to provide as accurate numbers as possible.  As you can understand, we can never keep everyone happy.  It is our best interest to help support the investor to be successful -- we are not here to sell 1 deal and be done, actually in many instances we've helped newbie investors become full-timers.  

Look, this is a tough business and getting deals is NOT easy as I'm sure you know.  If at the end of the day we can provide a deal that you've assessed and you're happy with it, then that is great.  Terms are there so we can protect our fees in the middle.  At the end of the day we choose to be transparent with our costs and they are costs of doing business to provide opportunities (that are again very hard to come by). 

In my market, those know that if I believe in a deal and investors pass on it, then there are times we will do them ourselves. (See 832 White St that is completed and 1912 Vesta that I will be posting in the deal diaries section soon).  We believe in what we do 100%.  I'm not saying we're perfect...no one is.

I would like to extend a word to all the wholesalers that take it on the chin, well because there are so many newbies trying to learn the ropes.  Instead of bashing them...help them.  Educate on why or why not a deal is a deal.  It's hard enough for all of us to get these things as it is.  I think it helps us all if we can get more deals flowing -- there are plenty homes out there!  

I wish you guys all the best of luck and look forward to meeting some of you!

@Jessie Chang  Welcome!  I'm sure you'll find a lot of what you're looking for here on BP!