All Forum Posts by: Paul Smythe

When choosing a flat fee MLS listing service, is that something where you find a local service, or are the best companies usually nationwide? What's the best way to determine a good listing service?

Welcome @Roy Leach. Atlanta is a great place to invest. There are plenty of users who can give you a lot of good information about the area.

If it were me I wouldn't bother getting a rental property that would only net $100/month. What happens when you need a new roof? That's going to cost you ~3-4 years worth of rental income. A month of vacancy could set you back a year. The appreciation will be nice, but it doesn't seem like it's worth the risk. I would search for a property with a better margin.

@Russell Brazil I think you are correct. I am going to pass on this one. Thanks everyone for the input

@Felix D Menendez Jr I would recommend following @Paul Timmins advice and attend the REIA meetings. I'm sure they'll be able to tell you who the best lenders are.

@Felix D Menendez Jr it can definitely be done with the right deal. I'm not sure your thoughts on using hard money, but it is possible to flip a house with 10k.

@Jeff Rabinowitz and @Account Closed  thanks for the input. I've called around and am working on scheduling a foundation person to come in and give me a quote.

I'm looking at a potential flip and wanting to know the BP community's thoughts on foundational issues caused by water (damp crawlspace, ground sinking underneath house at one spot, etc.). Is that an instant red flag that causes you to move on from a property?

What type of costs would one expect for a 1600 sf house (I understand it will vary, but is there a realistic scenario where it will cost me 10k to fix, or could I budget 5k and most likely be alright)? The sinking in the crawlspace is only on one end of the house. It's definitely moist throughout, though. Thanks in advance.

I am very new to subdividing land. I'm sure there are plenty of differences between each city/county/state/etc., but what are the basic steps? Are there universal rules such as minimum acreage? Assume I know almost nothing about the process. Thanks in advance.

@Account Closed I'd like to cash out a little, but as long as it pays off the existing mortgage it would be fine. I talked to one guy and they can do 75% LTV on an investment property. I'm hoping for a bit higher.