All Forum Posts by: Chukwudi Motanya

Upwards of 300k, but more interested in Income thats coming in

Hi All,

I am a single family house investor in the East Georgia area (Lithonia and Stone Mountain for now), but I am becoming more interested in Multi Family investing. I have access to private money now and I am trying to see the best allocation for it. From forums here, I am liking the advantages that come with Multi Families, but I am not seeing a lot of inventory in this part of Georgia. The very few that I do see, the numbers are no where near to making sense on a leverage basis. 

Does it even make sense to me to look for multi families in these part? Do I need to look for more units? Beginning to conclude that there really is not much of a market for this in this area.

Please let me know what you think,

Chudi

Hi Loreal, do you have historical performance numbers on the property?

@Russell Brazil thanks for the response guys. What do you use for your funds personally?

Hi BiggerPockets Family. Happy New Years Eve,

I currently have reserve funding for the 2 SFH that I have, and I currently keep it in a CD that is yielding next to nothing. For having $8,000 in the CD, I've amassed a whooping 83 cents over the last 6 months.

I wanted to know what other BP members do with their reserve funds. Is there any other place I can keep it so it gives off a little more respectable return? Hurts me inside watching those hard earned dollars yielding nothing.

Thanks all and happy new years. We made it

Chudi

@Anna Watkins

Thanks Heather. @Heather W. It was a 3 -2 in Stone Mountain. 1982 Ranch home. Was able to purchase for $57k. Valued around $65k-$68k so was able to purchase with some built in equity. Right now getting a few biters for $950 rent per month. Needed paint / Carpet to get it ready. New HVAC. Having Jonathan Cundiff helped immensely. 

I'm feeling good about the deal, hopefully get the renter in and then can focus on the 3rd!

Hey BP Family,

My second deal is almost complete. The house is fixed up and currently in the market and soon to be rented. I know I still have a long way to go in my journey to become financially independent, but I finally believe I am on the right path. None of this would be possible without the help of the BP community 

I couldn't have done with without the help of @Heather W., @Allen Thomas, @Rick Baggenstoss and @Pyrrha Rivers. Thank you all for your lending your ears during this journey. Here's to the next one!@Rick Baggenstoss

Hey Sandra, 

Welcome to the community. I also work in New York and am interested in Real Estate. My situation is a little different, but being born and raised outside of Atlanta, I actually just brought my 2nd single family in the outside Atlanta area. So maybe investing afar could work?

Also if in the city option feel free to reach out for coffee. Making it my Goal in 2016 to meet more NYC investors and expand my network 

@Sandra Creamer 

I'm using one that's treated me very well. I highly recommend him. If ok I'll ask if its ok to share contact and then you can go from there 

@Stephen Kunen