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Old 04-08-2007, 08:31 AM
LLD LLD started this thread
 
Location: Fairfax County, VA
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Yesterday on A&E, Flip the House was about a house on May street in Atlanta and I think it was in the city limits because the city inspectors of Atlanta were very involved.

It was an Atlanta real estate agent and some investors. It was quite an ordeal with tons of unexpected costs, some poor construction choices etc but in the end the house turned out pretty nice. They were asking $325K and got $315K and that still brough in a tidy profit -- something around $65K I think.

Does anyone know where May Street is? The neighborhood looked pretty nice, mostly older smaller houses. I was wondering if it was some place like East Lake or in that area.
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Old 04-08-2007, 09:40 AM
 
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It's a couple of miles west of East Lake. South of I-20 and Glenwood. East of Moreland and Flat Shoals. I was all over that area when I looked at The Preserve (didn't like that).
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Old 04-08-2007, 02:53 PM
 
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I saw that show too. That house was amazing when it was finished. The female agent/investor on it is going to be a regular on the show. They are going to feature several of her flips throughout the season.
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Old 04-08-2007, 04:56 PM
LLD LLD started this thread
 
Location: Fairfax County, VA
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Interesting -- but she wasn't the investor (I don't think) -- she was just the agent and she got two investors. I did see that she was on the cover of some fance Atlanta magazine though.
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Old 04-09-2007, 06:05 AM
 
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I did not see the show, but do you know how much the purchase price was before the flip?
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Old 04-09-2007, 07:12 AM
LLD LLD started this thread
 
Location: Fairfax County, VA
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Let's see -- backtracking a bit $315-65K would be $250K and I think they spent about $8oK or something so that would be $170K. That may be a bit low I just can't quite remember but I believe it was somewhere around $175-185K originally.

I'm contemplating whether I want to buy something already "redone" or whether I would tackle the "redoing" myself (not physically but paying someone else etc.). Of course I'm not looking for some flip or profit. But the oh the headaches they went through -- not sure I want to deal with it. But the advantage is you get to design everything and I like that. I've built custom and semi-custom and bought tract houses too -- and no matter what, it can be very time consuming and stressful.
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Old 04-09-2007, 09:06 AM
 
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Quote:
Originally Posted by Philagirl View Post
I saw that show too. That house was amazing when it was finished. The female agent/investor on it is going to be a regular on the show. They are going to feature several of her flips throughout the season.
Angie Wilford from Avenue Realty.
They also have another real estate investment team from Atlanta as well. His name is Sam Leccima (the one with the pregnant wife). Atlanta's getting some shine. I just moved here, so it is good to see minorities doing well.
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Old 04-10-2007, 03:11 AM
 
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Default Oh yeah!

Quote:
Originally Posted by LadyEsquire View Post
Angie Wilford from Avenue Realty.
They also have another real estate investment team from Atlanta as well. His name is Sam Leccima (the one with the pregnant wife). Atlanta's getting some shine. I just moved here, so it is good to see minorities doing well.
I remember the Leccima guy. He is Haitian. Some of my friends were talking about how successful this guy has become flipping houses. I am interested in these things as my husband and I are novice investors . I know for a fact that youhave to be ready for the challenges. The surprises can sometimes be unpleasant when you are remodeling to flip.

I agree with you, though, it is good to see minorities doing well!!!!

Maroule
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Old 05-08-2007, 05:07 AM
 
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Originally Posted by maroule View Post
I remember the Leccima guy. He is Haitian. Some of my friends were talking about how successful this guy has become flipping houses. I am interested in these things as my husband and I are novice investors .



Maroule
The fact that he is Haitian American makes it even better, cause I am Haitian too. It is great to see blacks and people from the West Indies doing well here, in the south, where I harbored serious reservations about the south. I am an attorney, specializing in real estate, and I am planning to enter the investing side of RE cause Atlanta has a lot of opportunity. Good luck.
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Old 05-08-2007, 06:38 AM
 
Location: NW Atlanta
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Quote:
Originally Posted by maroule View Post
I remember the Leccima guy. He is Haitian. Some of my friends were talking about how successful this guy has become flipping houses. I am interested in these things as my husband and I are novice investors . I know for a fact that youhave to be ready for the challenges. The surprises can sometimes be unpleasant when you are remodeling to flip.

I agree with you, though, it is good to see minorities doing well!!!!

Maroule
Like capital gains which is unfortunately something the don't talk about having to pay on the show
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