All Forum Posts by: Tiffany C.

@Account Closed I had the property appraised and the seller was unwilling to come down on the price.  I was really hoping that she would be willing to do subject to so that we could do some repairs and then refinance in our company's name. She didn't say no but she didn't say yes either. I plan on reaching back out to her in about 6 months.

3 Bed / 1 Bath. Basement. Space for Garage. Plumbing Connection in Basement for 2nd Bath. Property has some fire damage.

ARV = $140,900

Estimated Rehab = $55k - $60K

Asking Price = $37,500

The property may be viewed by scheduled showings ONLY!!! Residents are in the

process of moving personal property. Please DO NOT DISTURB!

Cash Buyers only. No Joint Wholesale. Property must close by Friday, September 2, 2016.

$2000 Earnest Money. No contingency, due diligence must be completed prior to signing contract.

Scheduled Viewings

Friday, 8/12/2016, 12 pm – 2 pm

Text me at (770)727-6470 or email at [email protected]

Dropbox link for photos

I'm very interested and I know other southside investors on BP who would be interested as well.

I attend the Way Down South Meet up in Newnan. If you sign up on meetup.com you can search for real estate meetup and you should be able to find it.

I also attend Mike Watkins, Newbie Wholesaler Meetup. It's held in Decatur. He has a meetup page on Meetup.com called unofficial bigger pockets atlanta.

I've also attended another meetuo that's also held in Decatur. You can find the info here on Bigger Pockets but I don't know exactly what you have to type in. If you don't find it, the next time they schedule one I send you the link.

Also, Atlanta REIA or GA REIA has an event in college Park but I'm not a member do I have never been.

Yes, please. There currently isn't one but I would be interested. I invest in Clayton and Henry. I know a few others who would be interested. I currently drive at least 40 minutes for each networking event I attend but would love something closer. I even have a location that's available!

@Tony Powell

Hi! I have the property under contract for $112,000. An associate referred a hard money lender so I'm working with them. I will be using the BRRRR strategy (buy, rehab, rent, refinance). The only ? is will it appraise? I've done my homework, there are no real comps for this quad. I had my realtor/broker to do a BPO (broker's priced opinion). I asked a retired appraiser, who knows the area very well, his opinion. The hard money lender is going to lend 65% ARV (after repair value) and then the refinance is 70% Loan To Value. If I can't get it closed with this financing company Plan B is to reach out to a private lender that I know. Plan C is to ask the owner to keep her mortgage in place and acquire the property as a lease option or subject to. I've done subject to before but it will depend on what the seller is willing to do. If she agrees I will refinance as quickly as possible.

 I'm trying to keep this deal alive but if it doesn't work out for me I will shop it to other investors in my network. Quads are difficult to come by these days and this property is solid. I hope that was the update that you were looking for. I'll keep you guys updated.  

@Mindy Jensen I'm not a realtor so I'm not promoting myself. And I don't own an agency or have any agents so I'm sharing legitimate contacts. Thanks!

I have a great realtor/broker in the area. I don't think BP will allow me to post their information here. PM me if you'd like the contact info.

@Michaela G. the property is in Clayton County, not Fulton or Dekalb. I have another property in Clay Co so I'm confident with the rental rate. But being that it is a multifamily there is always more to cover and consider. I've calculated the taxes on the owners purchase price which would be higher than mine. 

@Jay Dewberry I have an FHA loan on my primary residence and I have a family so that would be great option if my situation were different.

I appreciate both of your feedback! Hopefully I can find some financing.