All Forum Posts by: Chris Bardin

@Joel Owens

I'm definitely ready to follow through and get a deal done. I've spent many many hours on this site educating myself and ready to make a move now. Since this would be my first multi family I would want something smaller. For example, I don't want to start out with a 24 unit complex right out of the gate. Would prefer something smaller like 5-10. As I mentioned before, my preference is 2 or 4 but no opportunities out there worthy of investment.

I can discuss this further with you offline but do you see some opportunities meeting my criteria (5-10), or is it on a larger scale where you see an upward trend?

@James Sigsbee

I would prefer a duplex, tri, or quad but willing to look at slightly larger as well. Yes, anything around KSU is golden due to the continued growth of the university. I'm starting to look farther north (Canton) because of nice growth in that area but no luck yet.

Chris

I'm currently looking for a multi family property in Northwest Atlanta Area (Woodstock, Acworth, Canton, Marietta) but not finding any candidates with good cash flow potential. Not really finding many candidates period. Even if I were to find one, I'm leary of the out of state and institutional investor presence already saturating the market.

Any seasoned Atlanta investors out there that can shed some light on the Atlanta rental market? @Joel Owens- You are just a few miles from me. What is your view of the rental market in our area?

Thanks

Chris

With no "business credit" it will be difficult to qualify for a loan through my LLC. I've read on BP several times that big banks will rarely approve and the best chance is with community banks.

I'm thinking about obtaining a mortgage on the first 2-3 properties under my name but all other transactions (any materials, payments, etc) will come out of LLC. Eventually (after 2-3 purchases) I will attempt to do all business through LLC.

Is this a sound way to do things starting out?

Thanks
Chris

Are HUD home forclosures typically good options for flippers? I understand the earnest money is non refundable on uninsured properties, but is there anything else to consider? Is the HUD process a pain? Doing research on some of these properties they appear to be good prospects sometimes.

Will they accept low ball bids compared to asking price?

Welcome aboard Frank! The resources on this site are incredible! I hope to gain some insight from your experience!

@J Scott, Flips before doing wholesaling for a newbie? I just figured it would be relatively easy to find good deals given this market and assign to investor buyers plus take on less risk overall. I've always viewed rehab flipping as more risky with a lot more potential for disaster. Plus, having to sell afterwords.

I will definitely look into this a little more though! Thank you for your input!

@Luis,
Business plan is a check and buyers list is started but not where I want it. Some investors say to have a huge list but some feel quality is better than quantity. I would like to begin with 6-8 investor buyers and add as I build my biz.

Do you also do wholesaling in Atl?

I've read info on this site for months, took some investor training, and I'm ready to take the plunge into wholesale investing! One thing I've learned from the seasoned vets is just get in there and do it!

I currently live and work in North Atlanta. The 9-5 thing is really getting to me and I'm ready to break out and work for myself doing real estate. I've thought about doing this for at least ten years!

My immediate goal is to begin with wholesaling and eventually get into multi family rentals along with rehab flips.

I look forward to learning more from everyone in this forum!

Chris