Hi… I'm new to this forum and I have to say that I've been impressed with the topics covered and the information provided. I have learned lots about the perils of investing in the US property market from people who appear to be very passionate in their craft, but there is lots more to learn I'm sure.
I am interested in purchasing an investment property in the Atlanta region. I have seen many websites offering to assist with the purchasing (for a fee of course) and predicting net returns of between 10-15%. They typically provide estimates of Renovation costs, Closing Costs, Building inspections, Taxes, Rental Income, Management Fees, HOA, Insurance, etc. What they don't factor in are likely annual maintenance costs such as building repairs and gardening maintenance which I anticipate can erode those predicted returns somewhat.
I know that building costs cannot be predicted (how long is a piece of string right?) but I'd be interested to hear from those of you with IPs in Atlanta what their experience has been. Typically how much does it cost to maintain a garden in Atlanta and how easy is it to procure these services?
These are some very well informed contributors on the forum Emma, Alex, Jay, Kyler, Tx Cashflow, Ziv lawsjs etc
Check out the posts from these guys on the forum.
Emma171 is very much against ripoff rehab costs. So if you want plenty of info on that just get her started.I have been sitting on the side for six months soaking up all I could before making a purchase.
If you are in Aus. there is a program on the ABC called 7.30 @ 07.30 pm Mon 23/4/12
There are a couple of forum members that have been interviewed on the program.Rick
Thanks Rick. I have learned lots (and have been very entertained) from reading Emma's posts in particular.
PVR is already set to record the 7:30 program. Looking forward to seeing what it unveils
I will keep trawling this forum to see if I can find answers to my gardening question.
florra wrote:Hi… I'm new to this forum and I have to say that I've been impressed with the topics covered and the information provided. I have learned lots about the perils of investing in the US property market from people who appear to be very passionate in their craft, but there is lots more to learn I'm sure.I am interested in purchasing an investment property in the Atlanta region. I have seen many websites offering to assist with the purchasing (for a fee of course) and predicting net returns of between 10-15%. They typically provide estimates of Renovation costs, Closing Costs, Building inspections, Taxes, Rental Income, Management Fees, HOA, Insurance, etc. What they don't factor in are likely annual maintenance costs such as building repairs and gardening maintenance which I anticipate can erode those predicted returns somewhat.
I know that building costs cannot be predicted (how long is a piece of string right?) but I'd be interested to hear from those of you with IPs in Atlanta what their experience has been. Typically how much does it cost to maintain a garden in Atlanta and how easy is it to procure these services?
Not sure if you mean a garden or maintaining the properties yard. Every one will for sure give different answers. When I was in Atlanta I had to pay a landscape company $45 a cut. Most likely could have done it cheaper just did not spend the time looking. Now in Charlotte I have two kids ( one 19 one 18 years old ) on staff one for $9 hr and one for $10hr . They cut my rentals and clients rentals averaging about 35 hr week. For just one yard cost me roughly about $19dollars to cut and maintain.
When comes time to landscape ( spring and Fall) I go to lowes and buy my materials ( plants are on sale on sunday evening discount time about 5 pm ( always searching for a deal). Pine needles one of the favorite things in the South to accent flower beds. Cost are only $3.50 cents a bale. Most yards take 10 bales some times 20 . Most times I can change the appearance of a yard for less then $100 dollars. Just make sure you take the time to learn about what you are paying for. Heck I find my self going to Lowes a few times a week. Just checking out all the new stuff and ideas for homes. An adult playground for any one in the real estate business.
Sorry some one on here speaks volumes about Home Depot I am a Lowes person .
WHHHHHHAAAAAATTTTTTTTT Alex how COULD you?? Okay line in the sand…actually, joking aside,Home Depot for lumber and essential supplies and materials (price) but lowes for lighting/design….
However my paint for spraying just went from home depot and i could cry….speedwall/speedcote interior eggshell…. Gone!
Might end up valspar Olympic …. Waaaah. Makes a huge difference. We are looking now at us paying $1500 for the whole house 2 tone paint interior (all materials) up to 2200 sq ft….unless anyone else can get $48 a 5 gallon paint that sprays well?
Sigh….
emma171 wrote:WHHHHHHAAAAAATTTTTTTTT Alex how COULD you?? Okay line in the sand…actually, joking aside,Home Depot for lumber and essential supplies and materials (price) but lowes for lighting/design…. However my paint for spraying just went from home depot and i could cry….speedwall/speedcote interior eggshell…. Gone! Might end up valspar Olympic …. Waaaah. Makes a huge difference. We are looking now at us paying $1500 for the whole house 2 tone paint interior (all materials) up to 2200 sq ft….unless anyone else can get $48 a 5 gallon paint that sprays well? Sigh….Hey Emma
Sorry, LOL my little Brother works for Lowes Corporate office 13 years. My brother in law works for Lowes security 10 years. So hard not to shop at lowes, located 2 minutes from the office. ( Most of the Lowes staff knows me, well it is my second home.)
I make a point to stop in most Sunday's about 530 ish . I go to the back of each isle and see what is on discount. 2 weeks ago pick up some nice tile discounted basically enough for 2 houses for $129 . So there is always deals to be found just a matter of knowing and going to both stores. Besides buying your own materials saves alot of money on rehabs. Now knowing what and how to buy is another story.
I think this is some thing that should be shared with all.On trips to USA to make sure every one does stop at Lowe"s and Home depot and get prices on materials.Brings things into better perspective. I use the prices as ammunition when a new contractor tries to charge ridiculous prices.
Well Hope all is well.
As for paint I use the same color and just move materials from House A to house B ..My wife's cousin ( neighbor ) been painting for me for 13 years. If he does one house ( average in Charlotte 1700 sq ft ) $1500 if he does 3 to 5 .I am able to get that price down.
Sherwin Williams! Paint from Home Depot EWWW……..
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