All Forum Posts by: Aliasgar Baldiwala

Thanks Dererk! Does size matter in a good location?

Hello BP!

I am looking for member insights on log cabins in the Great Smoky Mountain area..

Anyone with experience in buying, selling or maintaining a vacation rental in the area can contribute and I would really appreciate any advise.

We are planning to have it on a rental program for a few months until we understand the business.

Location preferences / do and donts?

Thank you all in advance!

I am an investor and open to partner on deals in Atlanta / surrounding areas.

Hi Lenny,

If you are planning to invest thats great! I am guessing you have already figured out your cash/ financing and pre-qualification:)

Have you researched the rental comps for the area?

If you are financing, are you making atleast 15% on your downpayment after deducting principal, interest ,tax and property management fees?

Have you done an inspection? If so, are there any major repairs?

What is the quality of the neighborhood? Is it in a good school district?

Since I have never bought a multi-unit myself I am not sure what else you need to check. You can go through a number of blogs and I am sure you will find useful info.

All the best!

Yes, we use property managers. I pay 10% of the rent:- but try to negotiate to 8% if you can.

I have visited one of the properties (it was our first!).

As a rule. they take the first months rent as a fee to find and place a tenant. I negotiated that to 50% of the rent for one of the properties :). Also, I think if the property needs work it would make sense to get a quote from outside (property management companies tend to overcharge for basic repairs)

We are currently looking to acquire a third unit so if you find something you like and need help with the investment please let me know.

Hi Lenny, I live in CA too!

My wife and I have invested in GA in the past 12 mnths and currently we rent out 1 SFR and 1 Townhome.

GA is a great market to invest but you need to do your homework.

Due diligence is important so I would recommend avoid zip codes where the crime is high and neighborhoods that do not attract good renters. (citydata.com, areavibes.com, neighborhoodscout.com)

Hope you found this helpful. Pls let me know if you have any questions.

Al