All Forum Posts by: Account Closed

I attend GA REIA and would highly recommend it! They have classes throughout the month that have really helped to demystify each step in real estate I find myself in. I've also met some really knowledgeable and experienced people- you should check out a class or two. Btw, I'm also in the Gwinnett area and in the market for my first rental property, SF or MF.

Hey,

Send me a message and I can send some names your way

@Andrew Tuquilar  I'm surprised no one commented on this! What did you end up doing? 

@Rick Baggenstoss I did stumble upon Invest Atlanta in my research but I'm looking at Metro Atlanta- Gwinnett specifically. So that one wouldn't apply in my case, but thank you!

Hi Bryce,

I came across your forum post through a search I did on "down payment assistance" because I am in the exact same boat as you! My husband and I are purchasing a MF to live in one unit while renting out the other but the purchase price is close to $300,000 and we also need assistance with the down payment. Could you share how your story panned out? I live in Metro Atlanta so any information you can share would be helpful, I'm sure.

I don't know if she works with out of state investors but I am currently using a realtor who is an investor herself that I met because she runs a class at our local REIA. Email me if you'd like her name and contact info. =)

@Brian Burke  thank you very much! great advice.

@Brian Burke 

@James Syed 

@Brian Burke

Thanks for responding- both of you. That does clear things up. I'm currently looking into a duplex (built in 1972) in a suburb of Georgia as my first property to live in one unit while renting out the other. I'm trying to run the numbers but I'm hitting a wall with what to account for in terms of expenses. From the seller's disclosure, I have found out a few things about the condition:

 A/C units: 7, 9 years

Water heater: both 10 years

Heater: unknown

Roof: 4 years

The only things I can see from this disclosure that needs work is the gutter and one fridge needs a new gasket. I plan to ask for more information when I talk to the seller. Recent work that has been done to it: new hardwood floors, redone kitchen and bath, new windows..

From this information, should I be on the lower or higher range of those numbers you mentioned? Is there anything else I'm not taking into account?

@James Syed @Brian Burke Where did you both get the numbers for $400-$600 in repairs and $250-$350 for Cap Ex? (The latter numbers in your case, James).