All Forum Posts by: Asim Alam

Your name is Maverick?? I thought my name is cool with Asim, pronounced "AHHH-simm" (like Awesome!)

Welcome aboard, Neighbor! I'm just down 78 from you in Stone Mountain. How is the flip market or the buy-&-hold market looking out in Monroe? We should talk. I'll introduce you to my two business partners and share my financing contacts. Any chance you're doing Questival tomorrow? We can meet at the after party.

Welcome Jose,

I currently invest in Dekalb and Gwinnett counties in Georgia. I wouldn't call them hot markets unless you're physically here on the ground. Are you looking to buy & hold or to flip?

So I wanted to start off in my own backyard in Stone Mountain / Dekalb County. Definitely found a good few pockets but now I'm ready to look all over. I don't mind driving, right?

Where have y'all found as a hot area for flips that are not the Beltline or West End? I've heard Newnan and Peachtree City on the southside, and Snellville and Lawrenceville in the Northeast are looking good. What do y'all think?

Yeah, my realtor said the same thing about the Atlanta area. They'll get out of the Owner-Occupant phase but won't go more than $15,000 under asking price. Oh well!

Just rehabbed and rented a 3/2 1400+ sq.ft single family house in Stone Mountain, GA with a tenant in place @ $1,050/month. The FMV rent is closer to $1,150/month but it's a high-quality creditworthy tenant. This is a total turnkey buy & hold!

• Actual Rent - $1,050/month
• Property Tax : $1,609
• Elementary School : Shadow Rock
• Senior High School : Redan
• Price - $130,000

Anyone interested? PM me or email me at [email protected]

-Asim

@Mindy Jensen, @Joe Cummings, @Jeremy Tillotson: How well have you done on lowball offers with Fannie Mae? I just started looking at Fannie Mae foreclosures but don't yet have a sense of how cheaply I can acquire them. It seems like their list price is just a sliver under FMV, suggesting not great flips but maybe good rentals.

In y'all's experience, how far below the listing price can you get a property? I'm looking at Homepath foreclosure listed for $121k, but it becomes economical as a rehab at $105. 

Brilliant, @Rick Baggenstoss! Thank you!

Btw, @Simmy Ahluwalia, one of my best friends growing had the last name Alluwalla and we used to call him "Potato Head".  

Can I PM you? Maybe we can do another deal together?

Haha, it was also expanding the bathroom and replacing the HVAC.  That deal is en route now, but I'm looking at others now. So nice to have a little capital of my own finally!