Hank Miller Team Real Estate Blog - investors

Videos Show 150K+ Damage as Water Ran for 4 Days

Allowing sellers to remain in the home after closing for a bit can really make a buyer's offer appealing, but it's not without risk. Typically, there is a hold back of funds and once the home is cleared and inspected, the money is released. In this case, the sellers did exactly what was expected. They left the home on scheduled and squared away. The proverbial chit hit the fan the moment the City of Atlanta entered the picture.

The water was shut off at the meter on the day the sellers moved. The washer was removed, but the cold water supply line was inadvertently left open. Bad, but it's not uncommon for something like that to happen. The buyer requested the lock on the meter be removed, but the water NOT be turned on. They always turn on water with…

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HGTV Home Flips are NOT the Real World!

HGTV home flips are not the real world, so why do so many "investor wanna bees" swallow that hook? In just 22 minutes, you see homes transformed from disasters to diamonds, complete with upbeat hosts exchanging forced banter and crews magically working under budget. Sure, it’s entertaining, but many gullible viewers buy into the fantasy of “getting rich by flipping homes,” only to have it end badly. Trust me, I know. With over 35 years of experience as a full-time broker and appraiser, I’ve worked with both traditional clients and investors. Flipping homes can be a risky endeavor for those who aren’t well prepared — just ask Zillow, Redfin or Opendoor. Combined losses for those all-stars exceeds $1 billion.

Here’s an example, an investor client of…

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Wall Street is Far Ahead of the Real Estate Curve

Much of the nation spent the last two years holed up, staring at the TV waiting for instructions from Anthony Fauci. Meanwhile, the Atlanta real estate market exploded and subtle fundamental changes began to appear. Zillow crashed in spectacular fashion, other iBuyers dabbled grew their presence a bit more and institutional investors decided they really love homes. Atlanta has always been an investor darling, but over the last couple of years, activity has exponentially increased. "They" know something...Wall Street is far ahead of the real estate curve and what they anticipate seems to be coming into focus. They're on a massive buying spree and tightening the chokehold; the impact on home buyers, especially in the Atlanta market, is brutal. Their…

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Should You Take a Cash Offer for Your Home?

The idea that a company or investment firm will provide a cash offer for your home is instinctively positive, what’s not to like? To be clear, this is called a “direct sale” as the home isn’t offered for sale in traditional ways. Usually a buyer contacts a seller directly (often initiated by the seller) with an offer and terms of sale. Executed correctly, an off market or direct sale cash transaction can be completed very quickly; about as long as it takes to clear title and get the closing docs prepared. The wild card of course, is having an idea of what the home might be worth on the open market.

A “cash offer for your home” isn’t new. Over the last few decades, the greater Atlanta area became and remains one of the top markets for these…

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