All Forum Posts by: Tony Gunter

@Brittany Baker

They latched on to an equity partner or two. OPM.

@Mark Gaskins

Welcome to Georgia, where the matrix is a county by county adventure.

Dekalb, Fulton, and Gwinnett seem to be the places to avoid.

I saw the article as well. I think is was a magistrate judge that kicked it out 60 days, but only in Dekalb.

@Joanne Tsai

Atlanta - I think a lot of retail buyers have taken to the sidelines. I’m seeing some price reductions on distressed properties, but I also see some freshly finished flips still reaching for the stars and seem to be sitting longer than you would think they would. We shall see.

@Adedayo Ajayi

Wherever you can make the numbers work. That’s the real challenge now IMHO.

Bump…

Nobody knows anything?

Hello BP Kingdom

Does anyone know how/if/where one might find or generate a list of insurance total losses properties? Houses that have burned so badly they have been determined to be a total loss primarily. I know about condemned properties, but how quickly does the local government do that, and is there any way to get to the insurance companies soon after the property has been judged a total loss?

This is unplowed ground for me for a change. Anyone has some resources come to mind I might be missing?

@Matthew Barbaccia

You don’t have a SOW. That’s on you.

If you don’t have drawings, a SOW, and a materials schedule your aren’t prepared to fit any bud. You still have design work to do. That not free.

You don’t need an architect. You need to pay a good GC to prepare a super detailed SOW. Then you can use that to talk to contractors and ever will be on the same page. As it is now it is exactly like you said, different visions. You are responsible for the vision as the owner, not the contractor. They are there to implement your vision.

@Tony Gunter

You still have to buy right though. I didn’t mean to give an impression otherwise.

@Mike Schorah

How exactly do you loose money on a BRRRR?

You may end up not being able to cash out refinance all the cash you put in, but you’ve not lost anything. Even if you over renovate it’s still not a realized loss unless you sell.

My first BRRRR I had cash in the deal I couldn't get back at refinancing. However, I got all that back in cash flow in the first 3 years of renting it, on top of covering all expenses. Now it's churning out cash, but I don't have a penny in the property now.

You really have to work hard loose money on a BRRRR IMHO. Its like stocks. It's only a paper loss until you sell and make it a realized loss.

@Brian Wolf

I’m working on that. I can do it and take my profits as an investor, but because I’m also a licensed GC. Im I. The Atlanta area and open to private equity.