All Forum Posts by: Azeez K.

Hi @Mario Wadie

Atlanta is a great market and generally a lot of positive micro and macro-economic factors in favor of Atlanta. Good job prospects, standard of living and affordability to name a few. Since the objective of this post is not to highlight the benefits of investing in Atlanta. I won't go into the details of the same. However, you can find some information here.

If your focus is short term rentals I would focus more within City of Atlanta. There are certain areas that you can still find values where the BRRRR strategy works. Again prices have certainly gone up and they continue to go up which means the rental yields are going down. However, Atlanta has experienced a steady growth rate.

I have worked with several foreign investors. Refinancing typically falls in two buckets. 1) Refinancing as foreign investor - Typically, I have seen foreign investors can get 60% LTV. 2) Refinancing as foreign investor with local partner - In this case you can refinance up to 80% LTV and typically can find better rates as local partner is a resident of the state and may get better financing terms than foreign investors again in the second case you have the dynamics of partnership and giving equity but at the same time you would have boots on the ground ed.

Feel free to reach out if you have any specific questions. 

Hi @Nick Landa

You asked a loaded question. There are a lot of opportunities in Georgia and it depends on what you are looking for in terms of your expectations cash-on-cash return, risk appetite, time horizon, growth etc. 

Generally, prices have been on an upward trajectory but below are areas that have seen double digit percentage growths. They are not listed in any particular order and I am sure there are other places as well. 

1. Suwanee 

2. Decatur 

3. McDonough

4. Newnan

5. Sugarhill

6. Buford

Again it all depends on what you are looking from an investment standpoint. Feel free to connect with me if you have any specific questions. Happy to guide you along the way. 

Hi Janet

lets connect I will DM you as well

Hi Brandon,

Owner information is public in Georgia. Its pretty easy to find owner information depending on the county. 

Pick your farming county lets say Dekalb county. Reach out to the local county department ask for a copy of tax digest. You can get a cd (yes CD-ROM) for $25 or so and it includes all tax information including owners etc and all properties single vs. Commercial properties. The key is finding the right person at the county. Some smaller counties might be easier they may or may not have information so depends on the county. If you are tech savvy you can write a screen scrapper to get all tax information as well or connect with a local real estate agent and they may be able to get you information on specific properties.

Hope that helps. Feel free to DM me if you have any specific questions.

Good Luck

Hi @Alex

I suggest you pick a farming area on where you want to invest.

REI is super hot in Atlanta especially for MF properties so there are a lot of buyers looking to house hack and competition is stiff w offers over asking in almost most listings. If you are buying with FHA in a competitive market most agents would typically go for cash or conventional offer so you have to be patient.

There is not a silver bulllet answer to your question so start woth networking with agents, investors, wholesalers and PMs.

Good luck hit me up if you have any questions.

Hi @Kristy Oshita

welcome to Atlanta and BP community. I will DM you names of some good commercial lenders that I have personally worked with. 

Hi Ryan 

Congrats on new acquisition certainly sounds exciting. Now the real work begins buying is the easy part successfully repositioning and executing is a different ball game. Tax credits can be tricky you may want to look at consultants who work with city could save you money instead of navigating tax credits on your own. Good luck keep us posted on your progress.

@Rick Baggenstoss thanks for the mention hope all is going well. I ran into a problem at property on West View where the buyers lender insisted on having a CO for a rehab property. Anyhow hope all is well. We need to catch up soon. 

Hi @Ralph Mueller

Did you quit-claim your property into an LLC or did you buy it directly under an LLC? Is there an existing loan on the property or you put all cash to bring it up to this point? And is it a Jumbo Cash Out ?

Generally, yes if its under an LLC you can still refinance the property but your options are limited and the interest rates are going to be higher by 1-1.5% or more depending on cash out amount. There are banks in Atlanta that do cash out and I can send a name of few if you want. However, due to current situation (pandemic) the banks are more stringent on cash out refinance especially on investment properties. Lot of banks are not willing to take the risk but some banks are doing but the cost of finance is higher.

Alternate option you could refinance in your personal name (again lot of unknowns with the specific type of entity setup you have an partners etc.) I am just assuming for sake of discussion its just you on the LLC. Some banks require you move the deed from LLC to your name for a period of 6 months before they would refinance. You could go to DCBU or local community bank and do a cash out refinance upto 450K or so however, the banks are super slow as there is a lot of demand for loans given the interest rates. Plus the community banks are taking upwards of 90 days to do cash out refinance so you have to be very patient.

Don't get discouraged there are always problems and solutions so I am confident you could do a cash-out. 

Hi @Mallory Thompson

I am no legal expert by any means. If the tenant has not returned the key then they technically have not vacated the property. Its highly unlikely you can move her stuff out as they may come back looking for it. Did you contact the Section 8 people and get something from them to show the tenant is no longer living on your property? In the past I had a similar situation where I put the belongings out and changed the lock. However, one of my attorneys had suggested that it could get me in some trouble had the tenant come back looking for their property.