House #43: The Tear-Down House

January 6, 2013 · 6 comments

We’re not normally ones to partner on local deals and we’ve never been interested in venturing to downtown Atlanta, but a good friend and investor-colleague of ours asked if we wanted join him in big project that could likely end up as a tear-down/rebuild in downtown Atlanta, and for some reason, we said yes… 🙂

Actually, we’re viewing this as an opportunity to get familiar with the building process and also to get familiar with more complex logistical projects (coordinating with the city on this one should be fun!). I don’t have a lot of details on the project yet — we’ve only seen the house once — but given the permitting situation in Fulton County, we’ll likely spend the better part of the next 2-3 months working with an architect and getting permits before work begins.

Here are some BEFORE pictures of the house:

The Tear-Down House: Before Pics

I’ll post more details after my partner and I figure out a little bit more about what we actually plan to do. Next step is to find a great architect…if anyone knows one in the metro area, let me know!

6 responses to “House #43: The Tear-Down House”

  1. Kristine-CA says:

    New construction sounds like a great way to start the new year to me! Is the plan to replace the SFR with an SFR/garage? Or can you do additional units? Does that part of Atlanta have decent resales? Congrats and looking forward to watching this one.

  2. J Scott says:

    Hey Kristine –

    We’ll likely expand back (there’s a lot of unused real estate in the back yard), maybe go up as well, and create a much larger footprint and square footage. This area has been hot for a couple years now (took a hit on prices in 2008-2009, but not on sales volume), so I’m not worried about resale. My biggest concern is ensuring that we don’t do too much and price ourselves out of the market. Hopefully meeting with an architect this week.

  3. Brian says:

    J: I’ll be eager to hear the terms of your partnership deal.

  4. J Scott says:

    Hi Brian –

    It’s 50/50 in every way. Both contribute 50% of the cash, work, time, expertise, etc. And then split the profits.

  5. Treasure says:

    Hi J Scott,

    I am planning to enter into real estate business and I am starting to educate myself, thus, your site I found it super efficient. I decided to spend at least 3 hours a day to read attentively every single article and your flips you have posted. I am so happy that someone like you who is sharing his own valuable life and business experiences with us. Thank you so much for your precious time and generosity!

    Good luck!

  6. J Scott says:

    Thanks Treasure,

    Check out as well — it’s an amazing resource for real estate investors!

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