All Forum Posts by: Gregory Childs

Why not joint venture with someone - maybe your skin in the game is the lot; they build something marketable and you agree on a return of your investment (plus taxes) and a fair split of any profits upon sale.
If it's nice enough area for you to want to build - then chances are there is a market.
TTFN,
Greg

In my experience it does impact your ARV. The important aspect is what the take-out lender's appraiser will use for comps.

If the area has some active "nice" homes for sale, you should be OK; but if the only properties moving are the REO's it will definately impact your ARV.

I would assume you are going to have to compete with the REO's and price your offer accordingly - then if the flip sides happens you'll be pleasantly suprised and rewarded.

Set yourself up for the worst case and then everything else is a bonus.

TTFN,
Greg

My partner made money years ago lending people money for earnest deposits. The investment was pretty safe, as the money was held in an escrow account, and as soon as the property was closed on he would get his cash back plus a nice fee; paid from the closing statement.

He was mainly doing it in the commercial space (office/retail) - but it could work on residential also.

Just a thought.
TTFN,
Greg

Wow - you're all over the map. Not what I expected.

Those areas are sooo different, I don't know where to start. Maybe you just need to get with J Scott and chat.

Greg.

Can you be specific - provide what towns/cities you are looking at; Atlanta is huge and has lots of microcosm communities that can be very different (inside/outside the beltway, etc).

If you can get a rental to cashflow in a primarily owner occupied community (which appears to be #2) that is often a goood strategy for appreciation mid-long term.

Assuming you are not using conventional finance, look for properties that are REO's that have the a partial remodel started i.e. the kitchen or bathrooms are gutted, etc - these can not be sold to a "conventional" buyer and are often too advanced for a casual investor - who just wants to do cosmetic rehab.

Your competition will be low and the advantage is that some of the demo is pre-done for you.

TTFN,
Greg

Hey there,
Firstly - do you have a first name? Atlanta2011 is a little ambiguous.

As far as rentals vs. appreciation:
The ability for a new person to this business to find a cashflow based property is fairly simple. Prices are historically low and rents are still decent - so cashflow is an easy option.
The ability to find a short term "appreciation" deal is more complex. You have to know the neighborhoods, what's going to sell, where to add value, how to get the deal priced correctly, and how to exit the deal (financing relationships at banks, etc).

So it's not us saying you can't find a good deal to flip for appreciation - but its a contact sport out there right now and for someone with little time you are at risk of losing capital, not gaining.

As far as choosing a rental that "you" would live in - think of picking a property that your niece, nephew, son, or daughter would want to live in. That's sometimes easier.

Having lunch with J Scott will definately help your direction.

TTFN,
Greg.

Hey there,
As its the big trickster day tomorrow - what is the funniest or most elaborate April Fools joke that has been played on you or you have played on someone else.

A few years back I got caught with a really simple one:
I came in to a note on my desk to call Mr. G Raffe and the message was he had a lead on a high-rise multifamily property. The unfortunate element, was that I didn't listen to the greeting of the receptionist as she answered my call (I was working on something else) and I asked to be transferred to Mr. G Raffe. It was the Denver Zoo... she hung up on me.

TTFN,

Greg

There are companies that will create a font of your handwriting http://www.fontsource.com/
I tried it some time back - just for fun. Never thought of it as a marketing ploy.

TTFN,

Greg

It depends how you define "lead."

Let's say I need to buy props in SC and you are willing to do the research, leg work, analysis, etc and out of 100 deals you look at bring me the top 10 to place offers and close. And let's say you do quality work and there are some diamonds in the rough that have great returns. At the start it might be hard to front you a fee for your "work" as I don't have confidence that you will perform.

If you prove yourself a few times I might be willing to advance you a fee for your research duties - maybe 50% now 50% on closing. Who knows. It's all a risk/return calculation.

Call it consulting, research, etc. it is legitimate to pay someone to fullfil a need that you have.

TTFN,
Greg