All Forum Posts by: Andres Rivero

Welcome to Atlanta, 

I suggest you and your wife attend a REIA meet up. Feel free to hit me up with any questions you may have.

Andy

I don't know the condition of the condo, but if the condo ( assuming it's no more than 1000 Sq ft) just needs paint and a good cleaning, a handyman can handle it. It will cost you less than a contractor who has a crew to pay. Not to mention you probably do not have to worry about pulling permits either going with a handyman. 

Having the courage to talk to someone about their property is the first step. Just remember that you have a choice to either walk away or make an offer on it. It's all your choice. Seems like you have a hard time starting a conversation with a complete stranger about something personal to them such as a run down house they own. In a way that's normal. One way to get over that is to just start calling numerous people and practice this. If don't succeed at first try again and again. It will become easier and then eventually you are a natural.

Thank you guys for the advice.

Michaela G. Can you recommend any builders that are familiar with the intown Atlanta homes?

You all have great advice. I already have a builder lined up to take a look at it soon. I was going to take two more bids on the construction. This particular building is practically already demo'd itself. Might be able to save the brick walls but the foundation probably ruined that option. Any how, now it's time to insure it right after closing. Any thoughts on how much one should spend on liability insurance?

Jeremy Pace Great info in that podcast. Thank you very much.

So I purchased a dilapidated house in an up and coming neighborhood right on the Atlanta Beltline. I purchased it in the low teens. The house is a tear down, but the location is great. Now I figured option 1: demolish the house and sell the land. Option 2: demolish the house and build a new craftsman style home to match the area. Problem I run into is financing the new construction. I have been told I could build a new house for 170k and according to a realtor that is savvy with the area, I can sell it for $250k quickly. Possibly more if I wait. The house is currently the only one on the block that is in bad shape. The neighbors will love me for tearing it down. And that's good for business. What other options do I have? Can anybody shed some light on how to get financing on an investment property for new construction?

We are looking forward to it. My wife and I started investing last summer and have learned a lot through our experiences. Can't wait to learn more from everyone. See ya March 28th. :)

No kidding Manolo! All that money for work I can do myself sitting at Starbucks.