Student investor from Atlanta

[Hanbin Y.]

Hello everyone! Nice to meet you all and introduce myself. I am currently doing an engineering PhD at Gatech, Atlanta. Seems like there are mainly business people here in the forum...so please don't view me as an alien! By the way I am on a student visa so my situation will be very different from others. Because I could not get any financing on student visa, my parents agree to give me 200K low interest loans (one time only...they want me to start it out on my own afterwards). I am thinking about putting it all in real estate. Out of the 200K I will purchase a primary residence and 1-2 investment properties.

Current status:

I've been in rental business for 2 years but it's only passive. I have one rentals currently that is doing pretty good. Right now I am setting up a business plan and looking to find a dedicated team (CPA, attorney, wholesalers for deal). I will purchase 1-3 properties this year (depending on the purchase price).

Location: 

I am more familiar with Atlanta. But I'm open to other areas if the cashflow is better (Atlanta is no longer the best place for cashflow in my opinion). The CoC return is only 5-8% for the deals that I looked at (cash offer, so CoC is lower).

Strategy: 

I am seeking properties at around 40-70K. As I mentioned, my only funding is my 26K stipends per year and the 200K. So I would like to aim at lower cost property. Atlanta may not be possible but I am sure some areas in U.S. do.

As you can see, for the 3-4 years ahead I will be limited by funding and time. But afterwards the PhD graduate will hopefully get a higher salary and that will make it much easier to do business.

And just to answer why a PhD does not focus on studying but play with properties.. Well I just find it rewarding! But why do I need a PhD? Well that's the story for another day.

Let me know of your thoughts or recommendations, etc. I am all ears.

Shoot me a note if you are in Atlanta and would like to be a mentor. I am more than willing to help.

Thanks guys!