All Forum Posts by: Brett Blalock

@Cason Acor Sounds good. I've already reached out to several and a few will finance the land acquisition at either 60% to 65% LTV. The rest want to finance both the acquisition and development.

@Frank Hinck I reached out to the sellers about seller financing and it's not an option. One has the property in their IRA and just wants to sell it, the other is older and wants the money now, and the last is owned by the county. Not sure if you've been able to work around these hurdles.

I'm interested in purchasing several commercial lots near Atlanta, GA, and having a hard time finding banks that do commercial land acquisition financing. I have a partner that will develop the land, and we'll refinance once stabilized. Does anyone know a banker in the Atlanta area that does these types of loans?

@Alexi Schreier I'm using Perimeter Property Services (PPS). They are familiar with the rent by the room model that I'm using so it was pretty easy to get set up.

Investment Info:

Single-family residence buy & hold investment in East Point.

Purchase price: $130,000

SFH located in Atlanta, GA. The property needed a mix of cosmetic and structural work which took 3 months to complete. Was able to fully refinance out of HML that I took out for the purchase and renovation of the property. Currently, renting out 7 rooms for more cash flow than a standard rental.