All Forum Posts by: Myles McDevitt

How would a bank appraise it for financing purposes?

Are QuadPlex properties appraised with comp sales like a single family or a duplex would be, or is it appraised using cap rates like apartment complexes are?

So how would I go about analyzing a deal with short term rental being the end goal? Would the deal sheet look any different? How would I estimate vacancy costs?

Has anyone here had any success with short terms rentals in the Atlanta market? I'm concerned about vacancies and inventory availability. I feel like if I found a good deal on a condo or something in the heart of the city, I could make good money on short term rentals, but I want to get some feedback from people who have tried it in the past. 

This should work for me, it's late enough to where I should be able to make it home from work. 

 I can meet any day of the week after 6 as well, except Monday. Weekends are good for me too. I know the coffee shop you're talking about, if we just solidify a date and time, I'll be there. I'd tag the others, but I'm not totally sure how to do that. Is it just @ and the name? It didn't seem to link to anything when I typed it. 

I would absolutely be down for a meetup. I'm trying to get started in this as well and I would be very excited to meet all of the other local investors. 

 I'm not 100% sure yet. I feel like the Atlanta market is most likely past the point where I can make any real money. It's definitely a sellers market out here, houses are going under contract within a week of being put on the market. I was hoping to learn more about how to conduct market research so I could make a better decision on when and where I want to start looking for deals. On top of that, I'm not confident enough that the market isn't going to crash in the next year or two. The way I see it, I'm not in the best position to get into it yet, between my lack of knowledge, funds, and network. If the market were more of a buyers market where I had some leverage and I could find some deals, I would feel more comfortable jumping into it at this stage. However, due to the circumstances, I would rather take the next year and get totally out out of debt and save up enough money to work with when I start looking for deals. My goal for 2016 is to be in a position to find and make a deal and get the ball rolling. I also want to find a social group and get to know other local investors.  

Hey everyone, my name is Myles. I am currently working to save up some money and pay down some debts before I jump into real estate. I joined BP so that I could learn more about my market (Atlanta), while also trying to network and meet other local investors.