All Forum Posts by: Sam Valme

Hey BP,

I have a question about how seasoned investors estimate appreciation in a neighborhood. I am looking at an area in Southern ATL that is going to have a movie studio built at a shutdown army base. I know this is going to create a lot of jobs in a relatively depressed area. But the more I think about it. I really don't have any details on why I think the area will appreciate besides the fact more jobs will be brought to the area. 

So that begs the question. When y'all have some insider info that a new building project is coming to an area. What are the details that the pros look for to determine a prime time to buy? What are the things I should be looking for to better understand the opportunity that may be coming to this area? 

Thanks in advance!

@Brandon Turner, this is exactly what I was looking for! I've started using the tool but there were some sections I wasn't sure about. You talking through it made it extremely easy to identify what I should and shouldn't worry about! Keep up the amazing work my friend!

Hey BP! I have quite a bit of small repairs that need to be completed in a rental I have. I had a general contractor come in and they quoted me 106k for everything. I'm fairly certain they were just overwhelmed and started to ball park the projects. As an example. I had to get my circuit breaker panel replaced. The quote I got from the contractor was 6.6k. I found a smaller company off Angies List to get it done for 2.2k. 

We're looking at tile work, brick work, carpet replacement, cabinet repair and other jobs. 

Any reliable references would be great! Thanks!

Hey @Justin Pierce. I'm looking to meet more investors in the NOVA area. Is there a FB group I could join to be alerted for more meet ups in the future? 

Hey @Mattias Clymer,

My wife and I were looking at purchasing a condo for student rentals in the area. What killed it for us was the HOA fees where we were looking. If you do moveforward and are looking for property management. I spoke with Bernard from Rocktown Realty last week. He runs a pretty tight ship over there and they come in at the usual 10%. I believe they manage some 500 properties in the area.

I'm sure he would be able to provide even more insight on renting in the area. When I spoke with him, he mentioned he and his wife own 10 properties in that area. 

Good Luck!

+1 on this as well.

I was actually looking for this sub forum to ask a question to some of the local landlords in NOVA. Guess the DC forum will have to do for now! :) 

Hello @Kali B.,

Welcome to BP! Check out the sub forum for Cali to see whats going on in your area here: https://www.biggerpockets.com/forums/548-california-real-estate-q-a-discussion-forum . Best of luck to you!

As of right now we have completed a CMA on the home. My wife and I will have enough for the deposit in Feb. So realistically we probably won't close until March. We are rent hacking right now. 5 bed 2.5 ba. we live down stairs while renting the three rooms up stairs. We agreed with the seller we would pay slightly below market value because of renovations needed for the house.

They they are going to "gift" us back cash in their equity payout for those renovations. After that we're going to keep managing the house but now we'll be gaining the equity. Once thats complete we are looking to acquire more property to rent out. Currently we're looking in the greater Atlanta area. Our end goal is to begin investing in vacation homes. 

What are your next steps?

@Ceasar Blackmanthanks for sparking this conversation. I never would have thought attempting to help a tenant out like this could be a legal concern. Learned a lot from this thread!

@Phil Bottfeld. I like it. #noemotion. I'm interested to see if the decides in your favor. Definitely follow up either way! :)