All Forum Posts by: Michael Ehmann

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Makes sense. I was just wondering if you'd be open to some of the "transitional" areas near the Beltline. A lot of the East parts of town are pretty well-developed, and I think the West side is where the most growth is (still opportunities in both though). I agree with your perspectives on condos. HOA fees can be pretty high sometimes, but your CAPEX budget can likely be a little lower if you're only having to worry about maintaining everything inside the 4 walls of our condo. The other deal killer with condos can be rent restrictions (only a certain % of condos in the complex can be rented out without an owner occupant living there). That's the current problem with my condo. I bought my condo without knowing much about real estate investing. If I could go back, I probably would have made a different choice, primarily because of rent restrictions and HOA fees. It may take me a few more years before I'll be allowed to move out and rent the entire unit, and even if I do move out, the cash flow and ROI probably won't be where I'd like.

I think any of those areas could work, but there are some drastic differences. A few other followup questions: 1) condo vs. SFH vs. multifamily: any preferences? 2) do you have a specific budget? 3) any preferences on quality? Do you want something recently flipped? 4) have you considering purchasing the home with a low downpayment requirement and then flipping with a construction loan?

What parts of Atlanta would you be looking at?

Is there a meeting tonight?

I've gotten on the list for New Western in my area (similar business model to NetWorth). As a new investor, I've found the experience to be positive overall. For new investors, it can be a great way to see some deals, learn more about your market, and get some new perspectives. In general, I'd advise to trust but verify. Do your own analysis on the deals - don't just blindly trust the ARVs and rehab estimates (if you're looking at their rehabs). In my experience, some have been good and accurate, and others have been more questionable (again totally my personal opinion - the deals I've found questionable may work for some people).

David Montore where did you get this? This is exactly what I was looking for this week! I was running some more detailed analysis for buy and holds this week and was struggling with a CAPEX estimate. I found a blog post from Brandon Turner that had some similar info, so I just used that for now. But I like this source you have. We came out to pretty much the same result (we were estimating $300/month for ours). I think this is a great starting point that will get you pretty close most of the time. You could even tweak the quantities for something like a duplex (4 exterior walls and 1 roof but 2x appliances, HVACs, etc).

Matt Wood (guest on the BP Podcast from 2016) recently started a property management business in Atlanta. He's pretty active on here, so you can look him up and send him a PM for info.

@Ingrid Pinilla, apologies on the delayed reply! It's the BP North Atlanta meetup. It's usually the last Tuesday of each month in the Perimeter Mall area. Here's the thread with details: https://www.biggerpockets.com/forums/521/topics/392511-monthly-northern-atlanta-real-estate-meet-up-mastermind

If you haven't already, check out the BiggerPockets Money podcast and another podcast called ChooseFI. Both are great resources for learning more about financial independence, cutting costs, and other little life hacks you can implement pretty easily to save more.