All Forum Posts by: Paul C.

@Regginald Lewis By no means am I an expert, but I like that the rents are greater than the 1% rule. What are the comps/ARV like on the duplex? This will help you determine if you can refinance and pull out all your cash(if that is the goal). Also, what will be your monthly payments? If I can cover my monthly payment, get 50% extra to cover expenses and the rest be profit cashflow as well as being able to pull all of the cash out of the deal then I would go for it. Interested to hear what you decide.

With all other things equal, yes, you would think a house a little larger than the others would sell for more. Are there any major differences or issues with your properties compared with the highest comps?

I personally love the Grove Park area and looking at purchasing an owner occupied 4plex at some point in the near future. Numbers gotta work!

Interested. Please PM details.

@Stephanie P.

Thanks for the response Stephanie. Hopefully not hijacking this thread.

I recently puchased a home with conventional loan and asked about potentially using FHA 203K loan, but was steered pretty strongly against it. One reason I was told is due to the fact that the market is so hot, buyers would much rather accept an all cash or conventional loan over FHA due to it being a hassle and longer closing etc.

1) Is there a way to find which homes/duplexes would be eligible for FHA 203k loan in certain neigborhoods or should I just look for properties that may have been on the market for a while so probably not as much competition?
2) Is there anything else I would need to think about if I were to purchase a duplex with FHA 203k loan vs a SFH?

Welcome Felicia. I've been around BP for a couple years, but currently have paralysis by analysis or whatever its called. I'm looking to do something similar so if you find any good information please let me know. Good luck!

Good luck @Taber Roberts . We bought our first house in the "Parkview" neigborhood last summer and love it! I'll be following to hear what you decide, sounds interesting!

Thank you everyone for the advice. @Jesse LeBlanc I need to measure to see where I am, gonna be close. I know the variance could be high based on circumstances, but any rough estimates on how much it could possibly cost to move said AC units? Need to decide whether it is worth it to extend porch with cost of moving AC.

I live in Dekalb County Atlanta, Ga and am thinking of extending the deck to approximately double the size, but I'm nervous I may be running into an issue. The area where I would like to extend the deck has my 2 big AC units. Am I allowed to build over these as long as I leave a couple of feet of room for ventilation? I tried to look at my county code and did not find anything, but it also mentions the international building code which was hard to search for this exactly. Any help is much appreciated!