Atlanta ... Renovations Made For Financing ... Can I Rent Unit Before Deal Is Complete?
I'm new so bear with me. I have an offer on a duplex, lender required property improvements to OK loan, now I'm on the 2nd round of improvements on 2nd unit ... is there a way for me to rent out 1st unit now even though the deal has not gone through yet? And if the deal doesn't go through ... how will I get my investment ... and is there a good investment group in Atlanta? 
Not trying to be an ass, but how come you didn't think about all of this before you got into it?
From my undertstanding, you need to talk to the lender and see what they say. If you haven't purchased the property completely yet, because it is based upon you finishing the rehab, then I would say no....but if the bank has promised you the property already, then I would say yes because technically it is yours.
And look on the "groups" section here to find the atlanta people to start getting in contact with...you will have no problem finding people.
Christian "The Solutions Kid" Beebe
[addsig]
Are working on the second unit and renting the second unit or are you working on the second unit and wanting to rent the first unit?
Respectfully,
Phil
Phillip Herrejon
did you get financing "subject to"? - or have you closed on the deal - is there a possibility of re-financing - who was the seller - would they allow you to move in a renter - how was the deal structured? why did they allow you to renovate? - do you have title? was it an REO or something? - lots of questions - perhaps lots of different ways - I am in Atlanta (Lawrenceville) - have been a broker for 15 years and an appraiser for 10 years - have access to a lot or originators - give me a call if you want
770-277-1292
Gina