All Forum Posts by: Darius Hollis

Hi @Koob Moua,

Loop net is not really designed to market small multi family members nd it would be better to speak to an agent with access to the MLS. You can find small multi family in your price range, but to be honest, competition is fierce and you would have better luck with SFRs at that price point.

Whitney Payton Great advice from Ralph. If you end up putting in an offer on the property make sure that you are including contingencies that allow you to conduct thorough due-diligence and walk away from the deal if your inspections reveal repairs that are too much to handle. You can also consult with a real estate agent to help you coordinate the transaction and recommend qualified professionals.

@Rand Knutson I would personally start the ROTH before investing in real estate because it is a smart investment and with the limit being $5,500, you're left with $6,500 in savings to build back up or immediately put toward investing in real estate; however I would do that because I am very risk averse and I always take the less risky option before adventuring into murkier waters. That said, it honestly depends on your risk tolerance. If you're willing to take the risk and devote most or all of your capital to making your first deal happen, then go for it, just always proceed with caution and if you can, find a mentor or trustworthy agent that you can soundboard ideas off of and ask questions. 

Real Estate investment done correctly will put any equity, debt investment, or retirement account to shame. You would be hard pressed to find another investment vehicle that can provide the risk adjusted returns that real estate can provide. The trade off is that real estate investing takes more time, effort and understanding than most investments.  

@Rand Knutson Age doesn't matter with investing, in fact you have the advantage of time. My best advice is to research and learn as much as possible. While the benefits and returns of real estate investing far outweigh any other investment vehicle, it can also be risky without a lot of preparation and knowledge. As long as you are willing to do your research and become confident that you understand the market you are investing in and have a concrete plan on how you will find, finance and manage the property, then your goal is 100% tangible. 

Good Luck!

@Kevin Shuler  I'm not a lawyer and this cannot be construed for legal advice, but based on what I know about zoning, if there is not a variance allowing the property to function as a duplex, then you could run into trouble renting it out because if you rent out the units individually and have troubles with either tenant, you will not be able to legally evict them.  If you really want to purchase the property and use it as a duplex then I would recommend you try to get a variance from the zoning board. It may be a headache in the short term, but it could save you trouble in the future. 

Ethan Schneider Interest rates directly affect the "cost of money" for investors using leverage via mortgages. As interest rates rise, purchasing power decreases because borrowing funds becomes more expensive. For investors who are using adjustable rate mortgages it is recommended to refinance into a fixed rate if it is reliably forecasted that interest rates will rise substantially.

@Maxwell Lee

You can find the best sub 100k inventory ITP in West Midtown and Decatur. The best neighborhoods fitting your criteria in Decatur would be Belvedere Park, and the neighborhoods in Edgewood near East Lake Golf Course. Decatur is growing quickly and many neighborhoods continue to be overlooked as many investors in the area fight over inventory closer to the heart of the city. West Midtown as a whole submarket also presents unparalleled opportunity near the new Georgia Dome development, but those opportunities are harder to come by. 

Maxwell Lee I would definitely recommend Atlanta for sub 100K properties, but really there are good deals to be had at that price point in any major city. It's all about due diligence and looking towards the long term potential of the area, while not neglecting the potential to force appreciation and protect yourself in the short term.

@William Huston

Make sure you get a great inspection, look into the tenants payment history and long-term prospects to make sure they consistently pay on time and also verify every detail the seller presents to you. Also think of the worst case scenarios to protect yourself:

Is the property or area improving? What is the annual appreciation looking like? Would you be able to replace the tenants if they suddenly moved on? 

There are a lot of considerations to take into account, especially investing in C areas. 

Best of Luck!

@Jordan Santiago

The MLS is a great tool and it is possible to find good deals, but remember you are competing with a lot of other investors that also have access to the MLS. To get the best deals you have to turn into a broad range of lead sources and act quickly to have the upper hand on the competition.