All Forum Posts by: Adam Kayne

Hey Jack, I live in Athens too and am also in the stage of analyzing buy and hold opportunities in the area. I'd be happy to connect!

 I'm located close to downtown here in Athens

Hi everyone!

I am a first time homebuyer and recently qualified for a 3% down conventional loan to use for a house hack. My plan is to eventually turn into a rental after a couple of years and hold for at least 10 years. However, when running my analysis, I'm not seeing many homes producing positive cash flow.

For context, here are a few details / assumptions I'm using:

- Purchase price ranging from $200 - $275K (pre qualified for up to 275)

- Property taxes at 1.03%

- Insurance $2000 annually (typical for my market at this price from what I've researched)

- PM at 10% of EGI

- Capex reserves ~$250

- Repairs and maintenance 1% of property value

- Rent $600 - $750 per bed (average for my market)

- Most potential deals are returning negative CFs until year 5

Curious if anyone knows believes 97% LTV is too high to cash flow with interest rates being what they are today?

My takeaway from my analysis so far is I need to either 1) save more until I can afford 15-20% down or 2) wait for home prices to continue falling

Any feedback is appreciated!

Hey all -

After some decision making based on personal and financial circumstances, I've decided the best way to get my first rental property is to partner up on a deal. I plan to find the deal myself, but am curious from other experienced investors out there, what some key metrics you look for in a potential deal before you consider partnering up? I know this answer can be dependent upon the market, but I am investing in North GA for reference.

Hey all!

I am a new investor in the Northeast Georgia market and my goal is to buy my first rental property this year. I plan to do this through buying an off-market deal because my market is a college town and the MLS doesn't yield great results for deal finding. If there are other wholesalers here in the surrounding GA area I'd love to connect and learn more about your wholesaling strategies!

Thanks

Thanks for the quick response. My goal is to house hack a small multi-family in my subject market because if I purchase a SFH I don't want to wait a year before I can rent our my primary residence (please correct me if I'm wrong here, this is my understanding with an OO loan).

You are absolutely right, there are several neighboring submarkets, but I don't see myself house hacking in these places since it would create a long commute and change of lifestyle. That is where I become unsure, because I would need to find other financing if I'm not going to live in the home.

Also, can you please clarify your last sentence when you say an investor is going to want a deal? Are you referring to the seller of the off-market home? 

Hi all - I am looking to buy my first rental property over the next few months. I work full time and have a salary but live in a college town where it is very difficult to find any deals listed on market. I've talked with local investors and they recommend searching off-market. I have roughly $20K in cash, so can close with a 3-5% down payment for a loan. My question is can I use an owner-occupied loan for an off-market property? I am unsure if I should be looking for investors to partner with who can front more capital on potential deals or if I am able to go in alone. Any advice helps, thanks!

Hi everyone!

Looking for suggestions on what is the most time-efficient way to find sellers as someone looking to begin their wholesaler journey. I work a full-time job so weekends and a few hours in the evening during weekdays are the times I have to dedicate towards real estate. My initial strategy is to D4D, from what I've researched it seems like the best way to become familiarized with my market, but on the flipside it is very time consuming. I know there is software I can pay for that will help cut time with lead gen, but I feel that route may not help me learn as much as a beginner.

I just wanted some feedback from the community on how you all would approach starting out. I'm not shut off to the idea of spending money, I understand it's the cost of doing business. At the same time I'm not looking to hire a team around me at this point in time. 

I know there is no perfect strategy - any comments and advice are appreciated!