Atlanta - USA - Renovation

Discussion in 'Renovation & Home Improvement' started by 380, 10th Dec, 2016.

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  1. 380

    380 Well-Known Member

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    Sweet auburn and little five points are good area - gentrifying and lots of industrial/trendy cafes!
     
    380, 14th Dec, 2016
    #21
  2. 380

    380 Well-Known Member

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    Typo by Designer!
     
    380, 14th Dec, 2016
    #22
  3. 380

    380 Well-Known Member

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    IMG_20161207_100922.jpg IMG_20161208_100458.jpg IMG_20161208_132907.jpg IMG_20161209_101306.jpg


    And here we go... Demo starts with headaches!


    Seller is refusing to vacate property :(

    Luckily, we are holding $5k in escrow account.

    Demolition guys are working on one side of duplex...
     
    380, 15th Dec, 2016
    #23
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  4. EN710

    EN710 Well-Known Member

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    :eek: Why?
     
    EN710, 15th Dec, 2016
    #24
  5. 380

    380 Well-Known Member

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    Video:

     
    380, 15th Dec, 2016
    #25
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  6. 380

    380 Well-Known Member

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    Should have some updates on this shortly

    Here is a snippet of what's happening to the foreclosure market and one of the reasons we love Atlanta, stock is moving......(Source Realtytrac)

    U.S. local markets below pre-recession foreclosure levels in Q1 2016 included Los Angeles (27% below pre-recession average levels), Dallas (65% below), Houston (64% below), Miami (19% below), and Atlanta (57% below).
     
    380, 21st Dec, 2016
    #26
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  7. JohnPropChat

    JohnPropChat Well-Known Member

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    Is there any sub-$100k stock left in Atlanta that has decent yields?
     
    JohnPropChat, 21st Dec, 2016
    #27
  8. 380

    380 Well-Known Member

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    Yes, definitely but its slim pickings.

    Typically for cash flow multi units, duplex are ideal.

    We have also purchased properties to hold with just minor cosmetics, a slow flip if you like.
    As Atlanta is very hot market we know we can on sell these in 12 months and they will be worth significantly more, in particular the inner parameter/beltline. Not enough stock at the moment to meet demand, its a nice problem to have as long as you can source the properties.

    We have a team on the ground and we have networked with various people who are on selling properties to us so they don't even hit the market.
     
    380, 22nd Dec, 2016
    #28
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  9. 380

    380 Well-Known Member

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    Still working on final design.

    Discovered something at demolition - forced to change draft plans.

    1.5 week delay! :(
     
    380, 22nd Dec, 2016
    #29
  10. 380

    380 Well-Known Member

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    finally - its moving

    Demo is completed now!

    Demo1.jpg
     
    380, 6th Jan, 2017
    #30
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  11. 380

    380 Well-Known Member

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    Had major issue with subfloor :( Subfloor.jpg
     
    380, 6th Jan, 2017
    #31
  12. EN710

    EN710 Well-Known Member

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    Can't really tell (not a pro)... is it crooked or angled?
    How do you find the reno cost in US compared to AU?
     
    EN710, 6th Jan, 2017
    #32
  13. 380

    380 Well-Known Member

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    380, 6th Jan, 2017
    #33
  14. 380

    380 Well-Known Member

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    You may be able to see it in video!

    Beam under subfloor was rotten.
     
    380, 6th Jan, 2017
    #34
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  15. 380

    380 Well-Known Member

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    Framing /Subfloor completed!

    .
     
    380, 15th Jan, 2017
    #35
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  16. 380

    380 Well-Known Member

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    Walkthrough!

    p.s HVAC (AC) are in good condition - dont have to replace them - saves around $4-5K!

     
    380, 19th Jan, 2017
    #36
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  17. 380

    380 Well-Known Member

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    HVAC and Plumbing done!


     
    380, 26th Jan, 2017
    #37
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  18. 380

    380 Well-Known Member

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    IMG_5013.JPG IMG_5009.JPG IMG_5008.JPG Took a while to get permit sorted for this one!

    Delayed project by additional 5 months.

    Delay + rising market = more profit !!!!!
     
    380, 26th May, 2017
    #38
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  19. 380

    380 Well-Known Member

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    Revised Project Numbers:

    Buy; $110k
    Rehab ; $50k
    Misc ; $5k
    Sell cost; $16k

    Total cost ; $181K

    Projected Resale: $260k - $290k (based on current comps)

    Expected Profit: $79k - $99k


    All $ Value in USD
     
    380, 26th May, 2017
    #39
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  20. 380

    380 Well-Known Member

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    IMG_5264.JPG IMG_5266.JPG IMG_5263.JPG
     
    380, 4th Jun, 2017
    #40
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