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All Forum Posts by: April L.

April L. has started 8 posts and replied 28 times.

Quote from @Caroline Gerardo:

Call Carol Barbour and her  husband, done a few with them. Pay for your agent's gas and kindly say thank you. 


 I have no idea who they are but I assume they are in Blue Ridge and I'll Google them. Lol Thank you.

Quote from @Theresa Harris:

Ultimately you have the most to gain or lose.  Talk to her and ask how you can modify your criteria to find a place.  How many places have you looked at in the last few months with her?  If you've looked at a lot and didn't make any offers, she may think you aren't serious about buying a place.


 I've been working with her for 4 months. When we started, I presented her with a power point of exactly what I'm looking for and I have a Google spreadsheet of properties that I share with her because I'm that nerd.

I have been pre-approved certified for a loan. I've made one back up offer with earnest money (because someone got to it sooner) and another offer that got out bid. 

I have driven HER around and have taken HER to lunch to show my appreciation and also to show that I"m serious and so she won't give up on me.  

Unfortunately, the majority of houses I share with her go pending before she gets around to inquiring or setting up an appointment. 

I've been working with a lovely agent for about 4 months now to buy my first STR property in the North Georgia mountains, but it feels like I'm doing all the work. She has me on an email drip but the criteria stinks and I can't even search for things, so I basically find homes on my own (Zillow or Realtor.com) and she makes appointments. It's exhausting because I have a full time job.

Recently, I found out that she does NOT pay for the MLS to have access to Blue Ridge, GA, a big area of interest for me.

My agent says that she can contact agents and still book appointments for properties I send her, but I think I'm missing out on opportunities. I have two properties I really want to see, and after 5 days, she has not heard from the selling agent.

Would she have more success booking appointments if she had access to the Blue Ridge MLS?

Should she have a more active role in helping me finding vacation investment property?

Am I being too impatient?

In 4 months, I have made one back-up offer and one offer that got out-bid.

I've been working with an agent for a few months now to buy my first STR property in the North Georgia mountains, but it feels like I'm doing all the work. She has me on an email drip but the criteria stinks and I can't even search for things, so I basically find homes on my own (Zillow or Realtor.com) and she makes appointments. It's exhausting because I have a full time job.

I just found out that she does NOT pay for the MLS to have access to Blue Ridge, GA, a big area of interest for me.

My agent says that she can contact agents and still book appointments for properties I send her, but I think I'm missing out on opportunities. I have two properties I really want to see, and after 5 days, she "has not heard from the selling agent."  

Would she have more success if she had access to the Blue Ridge MLS?

Should she have a more active role in helping me finding property?

I hate to give up on her. I mean she has already showed me a handful of properties and spent at least three full days on the weekend driving all over North Georgia, so I'd feel crappy replacing her at this point.

I'm a newbie investor in North Georgia mountains and Western NC. I use the free version of AirDNA as my primary tool for estimating rental potential. However, sometimes, I'm really surprised at the results. It spits out either very disappointing numbers in areas I think would be popular, and in some cases, spits out high numbers in areas I don't think would be successful at all. Also, I notice that I don't always get the same result when I plug in the same address on a different day. 

How much faith should I put into this free tool? 

Thank you Michael. I've been using the tool as a determining factor for purchasing STR property. When I run out of free samples, I just go here and run the tool with on this BP widget. I estimate from airdna that the net amount is roughly 30% less than the gross figure. So, I'll just take 30% off what the BP widget says.

Hi Folks!

Does anyone know if the estimate figure given on this page is net or gross?

https://www.biggerpockets.com/airbnb-calculator 

Net or Gross? 


Thank you!

Quote from @Andrew Garcia:

Hi @April L., since this is your first BRRRR, most lenders with fix and flip programs or HMLs will lend up to 85% of the purchase price + repairs. Therefore, you will already have the equity when you go to cash-out.

If you follow the 70% - repairs as the MAO, let me give you an example.

$230k ARV. $161k - $31k in repairs. MAO is $130k.

You would only need $24k in down payment. There will still be closing costs and fees but you would still have $10k left for a rainy day.

Then, once you refinance, you will pull out 75% of the value for a $172,000 value. After paying off the fix and flip loan and carrying costs, you put the $24k down payment back in your pocket to use on the next deal.

Hope this helps! Let me know if I can be of any assistance.


 But I'm not interested in flipping. I'm interested in holding and renting. 

I only have 40k to get started on my first brrrr. So, if I put down 20% on a 230k property, that's it. I've blown my wad in a down payment. How do I move on to the next property with no more capital to invest?

@Nicolas Biangel Yes, I'm looking in North Georgia and North Carolina. Maybe Tennessee as well.