All Forum Posts by: Scott Mac

Make sure your zoning allows a duplex.

Make sure you get permits for all work that is needed from the city or county.

Consider putting in a separate electrical meter, a separate water meter, and separate gas meter.

Also features that are desirable in duplex would be a separate heating system which allows the duplex part to adjust its heating and air conditioning to whatever the renter wants. As well as a separate water heater.

If you do not put in a 2nd HVAC system, pay attention to the return ducts. You want to make sure that both units have return Ducts as well as heating ducts.

Will these items raise the value of the duplex to a future buyer In that neighborhood, that is something to speak with some local real estate brokers about.

Where will you pay the least taxes.

Where does buying a house for yourself cost less.

You have free (temp) housing available if you move. Do you have that free housing available in Boston also or are you paying.

If it were me, I would move. Spend a few weeks getting settled in to the neighborhood you are living in, (Getting your driver's license and car registered with the DMV) knowing where the grocery store is, et cetera.

I would get a paper map of the city, go and visit with a several different brokers (in different areas) and bring that map- then ask them where the neighborhoods are that are Class A class B class C class D and where the war zones are.

I understand that Atlanta comprises different counties, so your research at first with the paper map will give you an overview of the area.

Because the area is so large, being there
lets you drive those areas at different times of the day to learn the neighborhoods even better.

It will also let you get to know the types of customer/ renter who would be interested in apartments/ houses in a particular neighborhood.

If you think the culture in Atlanta GA in a class C or D neighborhood is the same as your culture in Boston in a Class B or A neighborhood you will find most likely that they do not match up.

Being there will let you get to know your customer in a particular area you are interested in wants.

For instance if I am looking in a Class D neighborhood in Los Angeles- which I am not- I know from personal experience that customer base values certain things in a rental.

Comparing that to something in a class C area in San Antonio Texas- that customer base values different things in an rental.

If you know what your customer base wants and is willing to pay for, if you offer that in a rental the demand for your unit will be higher.

Because Atlanta is so big , to me, moving to the area seems like it would produce the information that you need on the neighborhoods within the various counties as well as letting you get to know what the local neighborhood people value for a rental.

Good Luck!

Where will you pay the least taxes.

Where does buying a house for yourself cost less.

You have free (temp) housing available if you move. Do you have that free housing available in Boston also or are you paying.

If it were me, I would move. Spent a few weeks getting settled in to the neighborhood you are living in, (Getting your driver's license and car registered with the DMV) knowing where the grocery store is, et cetera.

 I would get a paper map of the city, go and visit with a several different brokers (in different areas) and bring that map- then ask them where the neighborhoods are that are Class A class B class C class D and where the war zones are.

I understand that Atlanta comprises different counties, so your research at first with the paper map will give you an overview of the area.

Because the area is so large, being there
lets you drive those areas at different times of the day to learn the neighborhood even better.

It will also let you get to know the types of customer/ renter who would be interested in apartments/ houses in a particular neighborhood.

If you think the culture in Atlanta GA in a class C or D neighborhood is the same as your culture in Boston in a Class B or A neighborhood you will find most likely that they do not match up.

Being there will let you get to know your customer in a particular area you are interested in wants. 

For instance if I am looking in a Class D neighborhood in Los Angeles- which I am not- I know from personal experience that customer base values certain things in a rental.

Comparing that to something in a class C area in San Antonio Texas- that customer base values different things in an rental.

If you know what your customer base wants and is willing to pay for, if you Offer that in a rental the demand for your unit will be higher.

Because Atlanta is so big , to me, moving to the area seems like it would produce the information that you need on the neighborhoods within the various counties as well as letting you get to know what the local neighborhood people value for a rental.

 Good Luck!

You can lead a horse to water but you can't make him drink.

Just my 2 cents.

Just some food for thought on your hunt for the Red October.

Are you looking hire an ttorney To teach you creative strategies And recommend Creative strategies  to you, or are you looking for a chain dog to implement your creative strategies?

Because if you're looking for someone to take the lead on putting creative strategies together - that might be a much harder find.

If I were looking for a person like this, I would grab my iphone and call the individual who had worked on a similar deal that I wanted to do. 

I would try to get a feel for the  personal connect I would have with this person, ie. how much of a thorn of a personality would I have to deal with to get what I wanted. Hopefully none. 

I'd also try to get A feeling for how much control this person wanted to have in the deal. From being a total catcher's mitt, to being the star pitcher. Because in my world I am the star pitcher. The boss.

Although in certain circumstances I could see someone wanting to have an attorney who really takes the reins on the deal.

 Good Luck!

St George Utah,,,,Cleveland--we aren't in Kansas anymore.

@James Wise has a youtube chanel devoted to learning about the realities of inner city investing. Take a look, and it's no St George.

Good Luck!

As a start up building firm, a business plan with a worst case, best case, most likely case financial scenario played out for a seven year term into the future- will probably reward you with more specific dollar amounts that you could potentially earn, then simply picking large dollar amounts and asking how do I get to these figures from this small borrowed amount I have.

Focusing on the financial numbers for these scenarios would probably be the most beneficial, vs. focusing on the written portion.

You might want to start with a chart of accounts for the business and work on the pro formas from there for the scenarios-- Treating them similar to budgets.

If you are unfamiliar with producing a business plan it can be quite daunting, it may take you a year or more to put the numbers together. Or you could just wing it, but remember winging it produces a lot more risk.

https://www.paloalto.com/solutions

Good Luck!

There are different price points on different manufacturers.

There are also lots of fancy doodads on some of them where you can save money on fuel, or feel good about saving the environment- if that's your thing. These can drive up the price also.

An AC unit in beaucoup Hot weather may have an up charge from the installer because he knows he can get it from customers who want immediate cooling. Same with heating installs in icy cold winter.

Does the price include removal of the old equipment from your property completely - or are they going to just dump it in the backyard. Because that costs something also. 

This is a big ticket item. These items also have a service life, so It would be intelligent to learn about the different systems features and options that are available to you, perhaps on the Internet.

That way when you get a bid from two or three contractors, you can make sure you're comparing apples to apples.

Good Luck!

You could have house inspector inspect it. Try to find one who specializes in Quads if you can. 

This will cost a bit, but you will be provided with a written report of the things they find wrong. Although don't expect them to find everything wrong because sometimes they do not.

In addition to this you should also walk all of the units.

Hey particular attention to the age of the roof, the number of roofs nailed down upon other roofs.

Pay particular attention to the sewer system. Having a sewer cam inspection might be a wise idea.

A particular attention to the electrical system. Is there enough capacity for each unit in modern times. As well as how old is the electrical system is.

Utilities Perry in space does each you didn't have a separate electrical meter, water meter, gas meter, furnace, AC system, water heater, or is there just one of each for all of the units. How old are these replacable units, are they at the end of their Service life.

Pay particular attention to who the renters are in place. Many people like to do a lease audit with estoppel certificates. Are any of the renters problem renters, such as drug dealers, or super annoying renters such as someone who plays loud music at full blast all day long - or hangs out Windows screaming at the neighbors - to the annoyance of the other renters you have.

That and many, many, many other things.

Good Luck!