Atlanta Happenings - DovCar Investments LLC

Hi Everyone...just checking in to report the latest and greatest from Atlanta and our adventures... We had picked up some good homes in the city on the cheap that we were told would get high section 8 rents.

On the first house we spent around 55k total after rehab.... We were told that we should get $1800 per month with a $2000 one time incentive fee. We just had a hard time believing it would actually get that much in that area of the city. We just got the call after the Housing Authority completed the inspection...$1860 per month rents and $2100 one time incentive check. Wow..what a return on investment! We got the higher rents because it is 5 bedroom.

The other home is complete as well ...70k invested so far (was a newer 2006 home amidst similar newer homes thus was more expensive)...

We have a Section 8 renter ready to go and we feel we will at least get $1500 per month. We have had a lot of issues because the original builder majorly screwed up the addresses on the street.

Various agencys have had 4 different addresses for the home. Thus getting this all cleaned up with the city, the water dept, the post office and the Housing Authority has been quite a chore and we still have not jumped through enough hoops so we are in limbo being able to get the Housing Authority inspection done ...ugh...thus we wait.... :(

We have another home that we got just because we were in the right place at the right time....
our money partner has a friend who had to put her Mom in a nursing home and wanted to sell the home as soon as possible.
She just did not want to deal with it so she put it up for a quick highest and best offer and we got the house for a great price...
and since Bob was working with a client that was looking for a house in that area who has just qualified for a FHA loan, we are able to move Bob's client in under a Lease Purchase agreement until the 90 day seasoning is up and can cash us out when the FHA loan goes through. We have our fingers crossed that everything will go through ok. :)

Bob's become quite the expert so contact him if you, your investors, or your money partners are interested in doing Atlanta flips or rentals. ke knows how to find the workable properties.

Rick
770-654-7005