All Forum Posts by: Eric Feng

@Danny Sekerak

Meetup is the last Tuesday of every month. Go to Facebook and search Atlanta Real Estate Investing Meetup (Don't think I could  attach the link here)

@Patrick Enright

Welcome to BP. What is your current strategy? Midtown and North Atlanta isn’t the cheapest area to invest but it might make sense if you’re planning to house hack or do a live in flip. Share with us more of your current thoughts.

@Corey Edge

I agree with the guys above that it’s difficult to answer your specific question because there are so many sceneries and strategies that can be applied.

I think the rule of thumb is always knowing how much budget do you have. Selling the house and borrowing against it can give you a different amount, and that would be your start to narrow down your options.

Can you use it to buy a house cash and have enough to renovate it? Or do you have only enough to put a down payment.

Metro Atlanta competition is fierce so be prepared to do a full gut rehab if you’re planning to buy anything under $130k. Of course that also depends on where you’re buying so that is also another question people will ask.

PM me if you need to call and chat.

@Tim Williams Continue to look and saving up funds. The deals are out there but good ones get snatched up quick. Also, if this is your first deal, look for other types of properties to increase your options. Such as house hacking a single family for the time being, and save on your rent (assuming that is the case), and continue to look. Good deals are popping back up in the market, but just not in the form that you're hoping for.

The main thing is figuring out what is doable with your current limitations and keep on move forward. Good luck!

That is on par of what I pay currently as well as what other property management companies charging if what you mean was 1-month leasing fee to find and put a tenant into your property + 8.5% per month. I used to manage my own property but wanted to try property management out so I can get more time back. What I learned is that instead of tenant, you ended up managing the property management company. You'll need to follow up with them and make sure things on going on as planned. A great partner to have if you are planning to scale, just have the expectations that they won't give as much attention and urgency since the property or tenants as their own. 

I'm in the same situation as @Mora Clark, owning just 1 property under my name. I wonder if it's worth it to just do tax a planning session with a tax accountant. After all, you don't know what you don't know. By talking to a professional, I assume that they can help you plan a road map, on how to structure the business?  

I'm also doing my research on this topic. Plan to do my own taxes for 2018, but I'm also considering talking to a tax professional now to do some tax planning, as I'm foreseeing my tax situation gets more complicated for 2019 & 2020.

Although I can still somewhat do my own taxes now, I am unsure of what documents to keep and also whether my current plan will maximize my tax deduction. Also I'd like to have the right and needed documents ready to hand off when the business gets bigger and more complex. Without planning ahead, I can foresee a lot of missing documents and headaches.  Anyone have any experience in this or have good suggestions?

Hello, 

I'm a newbie investor who is eager to grow and expand his real estate portfolio. 
I'm looking for someone to partner with who is a bit more experienced and grow together. 

I work full time, but would like to be a full-time investor someday. I am a long-term buy & hold investor, but am interested in flipping and wholesaling as well.  

Let me know if you're interested in the same thing, we can meet up and talk to get to know each other more. 

BTW, I'm looking at a deal right now, and hopefully to get it under contract soon. Just doing my due diligent at the moment. 
We might be able to partner up on this deal, so PM me and let me know. 

Thanks!

@Marcus Quettan Have you had a chance to drive around NW Atlanta like @Mike H. Jones suggested? I'm on a hunt to find a multifamily to house-hack too, and happen to drove around that area last week. It seems to have great potential but still feel a bit rough to live in. What are your thoughts?

Hi @Sandra Lepinski, there is a blog post regarding buying a multi-property portfolio. I'll link it below. 
There are also some past forum thread I thought you'd be interested in reading, which I'll PM them to you. 

Blog

Seem's like someone can't stand the hot Georgia weather :). 

I agree with Aaron, I know a lot of people who go to the extreme and turn the temperature way down to cool the room/car quickly. If you are worried about the power bill, I would wait a few hours to let the place cool down a bit then turn it back to your intended temperature. Your guest might not notice the temperature change once the room has cooled down. 

I'd suggest putting a few fans in the place for your guests. Rooms usually cool down (or warm up) faster when the air is circulating. This can save you energy bill in the long run as well.