All Forum Posts by: Curtis Rouse Jr

Hey @Breahna Sutton congrats on getting your license! So I'm an investor/realtor myself and I would recommend taking a wholesalers mindset by doing things driving for dollars, pulling probates/tax liens, code violations, door knocking and I would get a PropStream account that allows you to pull data as well. With it being a hot and competitive market here in Atlanta and most surrounding areas you have to get creative and do a lot of cold calling to get good deal that most investors are looking for. The listed properties have mostly been picked over and most don't provide an opportunity for investors like the off market properties do. Who knows you might find something you want to keep for yourself as an investment. Best of Luck and feel free to message me if you have any additional questions!

Hey @Peter Morgan so being a realtor/investor myself and seeing what works and doesn't with getting listing is first and I think most important is making sure you understand how and when they will be communicating with you. This of course depends on what you agree on but I recommend weekly. Secondly understand how they will be marketing your property on the different MLS's in your area, Facebook, SEO, etc. The main issue I see with agents especially on the commercial side is being passive and just posting then waiting. Make sure the agent or if they have a team are "actively" marketing by reaching out to other agents or constantly posting on social media. With this being a seller's market and low inventory (not to sure about your market) there are more buyers so it has been really easy for agents to sell these days. I would also ask for their reviews and actually talk to the clients who they worked with to see how their experience was so you know what to expect. Whether you go with a known broker or one not well known, make sure that agent puts your needs first and has a plan of action if worst or best case scenarios happen. Oh and last thing, if you are unsure about the agent but want to give them a try just sign a shorter term exclusive agreement as I don't know how consent works in Texas when you want to part ways. Best of luck and I hope this helps!

Congrats on the deal @Thomas Willingham! I don't know how many times I've seen and encountered back up offers being accepted because the initial deal feel through. I was working on syndicating a 100 unit deal a few years back in Gasden, Al that feel through do to financing. You just never know these days especially when good deals are hard to come by the key is in the follow up. Best of Luck and if you guys are ever looking in the Atlanta market for MFR feel free to message me.

Hey @Iesha Padilla congrats on listing your fist unit! So I would go ahead and put the exact apartment/unit number down because end buyers/investors are going to be asking you anyways to do their own due diligence on the property. It saves you time from getting calls asking the same thing and I would make sure to let the tenants know (if applicable) what is going on just to be transparent. When listing you want to give enough information to draw buyers in but not every single detail. This will weed out those not serious and bring in real buyers. With this market being so hot you shouldn't have any problem getting what you want being a sellers market :). Best of luck and feel free to message me if you have any other questions!

@Michael Watkins for sure I'll be free anytime after 12pm EST tomorrow. You can call my number below

@Kedian West so yes they have a training seminars class that is scheduled over the course of about a month over zoom now since covid that meets the 75 hr Ga requirement. So what are you looking to focus on in real estate as it's very broad. My main focus is Multi Family apartment buildings and property financial analysis so I could help out in those aspects

Hey @Anthony Holloway would I'm a local investor and commercial realtor in Atlanta, Ga market mainly focusing on multifamily, so would love to help you guys out. Are you looking for value add/turnkey, how many units, CoC or IRR you are looking for and budget would give me a good idea. So yes, house hacking is popular in Atl especially once you look at the advantages of transitioning from the smaller 1-4 units to the larger commercial MFRs. Feel free to message me with any other questions or need help pulling market data.

Hey @Darrell Bazemore so once you have found the deal you need to get it under contract if not already done so. Once under contract there is typically a Due Diligence period (usually about 2 weeks or less for wholesale transactions). At this period you are marketing and trying to find investors and get a showing done in that timeframe (try doing this all in 1 day). If its a good deal you should get offers (make sure cash and no mortgage contingency) and if there is no offers you either didn't market enough or in most cases the price is to high and you will need to get a price reduction from seller if they agree. Once you have the buyer they sign your assignment agreement, send the original PSA w/ assignment to closing attorney, then you get paid on closing date once that's set :). Feel free to message me with any additional questions!

Hey @Brendon Kerrigan, I'll take the cashflow all day over the appreciation because me personally I want to have the money coming in now vs in the future especially when you are dealing with commercial property that is valued on the income approach. If you can buy the property with a good amount of equity already built in and it already cashflows that's the sweet spot deal. The main factor to be mindful of is that the project isn't to distressed and needs an excessive amount of renovation/capex needed that could kill your deal. That's why I stress underwriting the financials conservatively and doing a full inspection while obtaining quotes of costs especially since we have seen a spike in material/labor costs year over year. Best of Luck and I hope this helps!

Welcome to BP @Justin Swaby! So you don't have to go through a bank, in your situation I would recommend to find a For Sale By Owner (FSBO) and see if they will seller finance I portion of the selling price or you can always bring in another investor as a personal guarantor that can sign for the loan (they will most likely want a portion of the deal for signing). Feel free to message me with any additional questions. Best of Luck!