All Forum Posts by: Autumn Webb

Graduated with a BA in Psychology from UT..Go Big Orange! Unfortunately I quickly realized this degree wouldn’t pay very well so I became an Officer and never looked back. I learned to read people very well and have used that to negotiate on deals. Overall, I’d say it was worth it.

@Jeff Filali with empathy, my father passed in August due to cancer. Remember to keep going, it helps. Congrats and much continued success!

Have a contractor I use for rentals, not flips...Message me and I’ll send his info...Welcome to Chattanooga!

@Joy Baker if I understand the question correctly, the tenant pays rent (to you) then you pay the lender. Saving for vacancies, cap ex, taxes, maintenance, etc keeps you out of debt. 

Example: I own rentals in TN I purchased via a commercial lender (small bank). Because this bank holds the mortgage, all rental payments are sent to this account. I use this as a reserve account to cover vacancies, repairs, and the mortgage. 

Paying off a property depends on terms of the lender. Yes, its best to have 6 or more months in reserve before getting a loan. That may be required by your lender.

@Leon Lee have yet to purchase a multi but I'll answer what I can...

1. Considering agents require you submit proof of funds prior to making an offer, I'd start with banks. I have a commercial lender in Tennessee and they always check my credit prior to granting a commercial loan.

3.  Real Estate is a people business so networking is important. A mentor is priceless, and the focus should be adding value to their business first! The best way I've shown appreciation is working in their business for free which led to full time jobs I loved!

I learn, they benefit. Adding value to their life or business speaks in volume.

5. Check cities in Gwinnett County...hope this helps

@Micah Redden I'd like the contact info of your broker also if that's ok. I am an investor in the Atlanta area and will have a license (primarily to purchase my flips). Are you still with the broker?

@Brian Garrett agree with you on the flat fee. $250 per draw sounds expensive. I usually spend at least $5,000 on material/ labor cost when starting a new project (before requesting the first draw). 

@Shalante Davis not too bad if I should say....my terms..3% origination 11% interest 70% LTV $150 draw fee

@Ari Siesser welcome to BP! Been investing part time for a few years....I reside not too far from you so if you'd like to meet up sometimes let me know. Good luck!

@Caleb Rigby Warren Buffet has 3 rules which all reiterate don't lose money, however, they weren't major losses. I've experienced the same but appreciated each lesson. You're doing great! Keep up the great work!