All Forum Posts by: Paul C.

Thanks for the reply @Michael Dumler. I can buy the property at a discount and it will cashflow great, however I would have a lot of capital left in the deal and basically be stuck until I was able to save enough for another project since there are no comparables. Is GRM ever used for an appraisal and if so, in what cases?

Hey, my strategy is long term buy and hold of small multi family(2-4) units using BRRRR. However, I am running into major issues on the refinance piece due to lack of comps. On a previous BRRRR, I came out under water due to my duplex being renovated and there not being ANY others that were renovated so the appraisal came back low. I am potentially about to buy a set of duplexes that I would prefer to completely renovate using the BRRRR method but I do not want to get my capital stuck in the deal. In this particular case, there are no comps at all as it is a rural property. Does this mean my strategy is flawed or has anyone else found any viable avenues to avoid this pitfall. Thanks!

 Can you provide a link? There was no 2022 census(That I'm aware of) so just curious how they are coming up with those numbers. To your point, this wwill be a big metric for me comparing percentage increases since Covid between ATL and C-town. 

@Andre Crabb can you provide any more context on this data? Looks very interesting.

@Cody Smith thank you for the insight! Where did you get the census numbers that you quoted?

Hi All, I currently live in Atlanta and invest in the area, but am moving to Carrollton, Ga in the next couple of weeks. I am trying to determine whether it makes the most sense to invest in the Carrollton market and start stacking units there or if I should stay in Atlanta. I would love to do this by finding information on jobs, income, days on market, etc over the past couple of years to try to determine the future outlook. Unfortunately, I am only able to find this for major markets and cannot find any statistics regarding smaller cities. The zip code data that is available for free is very limited and not sure which one would even give me what I wanted. The only data I have right now is around sales that is coming from InfoSparks on FMLS. Any help is greatly appreciated!

Hey, I am in Atlanta Georgia and looking to replace my fence that is on the border of our property line with 3 other neighbors. I have gotten 2 of them to agree to let me replace the fence(only 1 agreed to split the cost), but am not getting a response from the third and final neighbor. He responded to my first text by saying that he didn’t have money at the time. I have responded a couple of times saying that I do not mind covering the cost completely but that I would like his approval prior to construction. It has been about a month and I have sent 3 text and left one voicemail with no response anymore. I don’t really think they care about the fence since they never use it or care for the fence but would prefer to not end up in some sort of neighborly drama and I am okay with taking the full expense. Any advice for this situation? Should I just go ahead with construction and just text him the dates it will be done?

We own a 4/2.5 home that has extremely tall ceilings in a couple of the rooms where it is possible to add square footage, ~260sq ft. Some of the homes in the neighborhood were constructed with additional room 20 years ago and a few have done it more recently. We are thinking about possibly selling/renting(if it makes sense) our current home soon and moving out to the country where we build a home so I would only want to proceed if it is a good return on my investment(I personally like the natural light that comes in now, but like $$$ more). I plan on getting quotes for a couple of different options including a bonus room, bathroom & Bedroom, etc. What do you think would give me the best ROI possible? I'm thinking the bed & bath option. What is the math behind how I value the new sq ft? Would it be at the same $/sqft as the rest of my current house?

@Brad Hammond Thank you for the response. There have been no additions, no covered porches, nothing questionable about the property really. I did check to make sure it wasn't the garage being counted on one and that is not the issue. When we purchased the home, the listing stated the 2400 sq ft. I have now updated zillow to the 2800 number but not sure if it matters. If I used the $/sqft we assumed we had at 2400/sq ft then it will add >$50,000 in "value". 

I guess my ultimate question is what is the actual value of my home at this point and is there anything I can do to recognize that value

I purchased a home ~1 year ago as my primary residence. I was poking around and saw that on my property taxes, my square footage is listed at ~2400sqft. However, I checked my appraisal and they have me at closer to 2800sqft. Does this matter at all and is do I have any opportunity? Trying to think about tax impact and resale impact, but let me know if there is anything else I should be keeping an eye on. Thanks!