All Forum Posts by: Brian Windle

Hi there,

So I am still looking for my first deal in Georgia. I would like to purchase a rental property. I have only a 25K HELOC so my options are pretty limited. I keep seeing alot of cheap and decent looking homes in Augusta, Ga., but I know nothing about the area, I live in Athens. Can anyone from the Augusta area tell me why there are so many cheap homes on the market. Would love to hear from anyone that is successfully investing in Augusta, Ga.

Thanks!

Hey Emily, 

There actually is an Athens meetup that is still active. It is hosted by @Georgui Kasaev and meets the last Thursday of every month at 6:30 at Allgood lounge. There was a pretty good attendance last Thursday. Hope to see you there.

Thanks @Tom Gimer for the response! Do you know how I would find the original trust so I can see if any successor trustee is named? Also can anyone petition the local probate court to appoint a trustee and how would they decide on a trustee?

Hey BP community,

Hoping y’all can help me out with an odd situation. There is a house in my town that is very clearly abandoned. I looked up the owners using qsearch and it was a trustee. I then looked up the deed and found that the trust consists of three individuals. All three of them have since passed away. Two of them moved out of the county beforehand. My question is, how can I Buy this property? Do I have to go chase down any inheritors from each of them and try to get a quit claim deed from. As I said, some moved away so would their probate cases be from the county they moved to, or in the county with the property that they owned 1/3 of. Tracking down all this info and then the possible 3-100 other people that may have inherited some portion of ownership in this home seems like a lot to do. Then to get all of them to agree to a quite claim deed from some small amount of money seems unlikely. Is this the route I would have to go to buy this house? Do I have any other options? Any info would be much appreciated!

Hey Sam,

I am also a prospective investor. I live in Athens, Ga and would like to start investing within the next year. Buy and hold is ultimately where I would like to end up but I am also interest in fix and flip to build a little capital first. I have attended some REI meet ups in Athens so if ever make your up here let me know and maybe we can meet up.

Welcome to BP!

Hey Kevin, if you already have enough money for a down payment on a conventional loan, and if you are buying a house for a good deal that already has equity in it, then you should be able to obtain a conventional loan then turn around and get a home equity line of credit on the house to fund the repairs. Never done it before but I don't see why that wouldn't work. 

Sounds great, thanks @Georgui Kasaev and I'll see you at the next meeting. Have a good one

Hey everyone,

I just stumbled on this discussion. I also live in Athens, and although I have not done any real estate investing yet, I am interested in getting started. I see that I just missed a meetup, but I would definitely love to join the next one.

Thanks for the response Ed Mayo, that is very helpful. Sounds like Georgia would only be good for land investing on larger deals where I could justify paying those prices for a closing attorney.

Thanks for the reply Deep,

I am trying the Seth Williams model of buying tax delinquent land for ~20% market value to immediately resell