All Forum Posts by: Ethan Atkinson

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Tagging you folks because you might want to attend this meeting and meet some people around Athens.  If you know anyone else on BP that wants to hear about this meeting or those in the future please tag them. 

Sorry for the last minute notice BP world.  My wife had a baby last month and my admin help has been slim recently. 

Investors all around Athens have been asking me "Ethan! When is the next meeting?" Now I have an answer for them: Tomorrow Night! Logan's Steakhouse. Come on Down!

If you have never been to the Athens Real Estate Investor Association, you are welcome to come for the first time, and as of this month, the meeting is still free. It is a great place to network with other local like minded people, introduce yourself if you have some kind of trade that we as investors might need, and especially a great place if you have property that you want to sell. Regarding property you might have for sale, the farther off the market the better, but of course real estate agents are completely welcome as at least half the group or more is or has been licensed. Another great reason to visit this monthly meeting is the great knowledge our speakers are happy to share with us. Every month is a new and interesting topic.

Tom Beisswenger will be our next guest speaker. He is a local Athens real estate closing attorney who has a wealth of sage advice, and is going to talk to both the novice and experienced investors who frequent our meetings. Some of the topics will include purchasing real estate in an LLC or Corp vs your own name? Is wholesaling illegal? How to set up a joint venture? What are the best special stips to have in an offer? Come with your questions and I know Tom will be able to find an answer.

ABOUT Tom Beisswenger:

For 18 yrs Thomas Beisswenger has been working in Downtown Athens helping local buyers, sellers, and investors close on real estate transactions. As long as I have known him he has been at the Chastain Building at 272 Hancock Ave, #300, Athens, GA 30601

His team of professionals have handled thousands of real estate closings and know what it takes to get them done right. (As reported from LinkedIn) Tom is quite often the first attorney I will suggest to a real estate investor when they ask for who is "Investor Friendly?" or "Who do you suggest handle this transaction?" Personally he has helped me on a number of closings as both an agent and recently as an investor. He is the type of professional who will always get it done for you, and recently even stayed well past 5 pm to accommodate all parties involved!

Be ready to talk about a deal you have or one you are looking for. See you soon!


Schedule for the Meeting

• 5:30-6:15 Networking and Prep
• 6:15-6:30 Haves and Wants
• 6:30 Athens REIA Info and Main Event Speaker

SEE YOU AT LOGAN'S STEAKHOUSE

Sell the house now. It's a seller's market almost everywhere and still ok in Augusta.  Or keep it for a long long time.  The market could take a turn in the next couple years or three and if you "needed" to sell then, it would likely be difficult in that market more so than a bigger city.  

If this is your first deal you need a few very important things - 1) a good inspection and 2) copies of all the leases and a verbal confirmation from each tenant and 3) a rent roll or proof of collecting the $3625. 4) as much proof of expenses as possible. If they are HUD rentals you should be ok as far as the inspection because often those are strict before tenant moves in and every few years. The appraiser is only good for a bank in my opinion and your peace of mind. I would call a few other investors who own Proprties and ask them for an estimate of value. What are the sales comps showing now? If you can get almost free money(owner financing with low interest) then this is something you can leverage in the future. Not knowing repairs or actual condition it's hard to give you advice but seems like it's a good return after the mortgage payment. What are your expenses though? How much cash do you actually realize each month?

In the specific MLS there are rules about who can list, that actually are different than what the Law says. You can market a contract, and a property as a licensed agent or unlicensed as long as you inform the current owner of the property that you are going to do that. I have that in my contracts on properties I want to buy whether I will wholesale or not. Check with a good attorney who can show you the law because that is what I did because I am not one! There have been plenty of folks who have been nailed because they have tried doing this and the actual owner had no idea their property would be marketed to other buyers.

Of course as soon as I tell you I am interested so is the rest of the country!!

If you ever have time to take a trip to Athens, I would be happy to talk to you about the great returns that are happening here. I also host the local Athens REIA and will have a meeting the first Tuesday of every month. Coming up soon. Your price range is great for Athens also. Very competitive market right now, but hey, there is no better time than the present.

Every county is different when they decide to put the property up for tax deed auction. Pick the counties you like, call the tax assessor office and ask for their current list and to be added to their permanent notification list.  Sometimes people in my areas around AThens, GA are late for 3-6 years before they go up for auction!!  This also means you can make an offer to just buy the house now instead of waiting for auction, then waiting for the property another 12 months. 

So here are your places - - Easy choices -- In no particular order, or in exact order from Best to Great.  Athens, Georgia,  Atlanta GA, Savannah GA, Charleston, South Carolina, Nashville, Tennessee, St. Augustine, Florida, Birmingham, Alabama, Mobile AL, Asheville North Carolina, Charlotte, NC, Chapel Hill or Raleigh-Durham, NC.   Life will be great in all these places.   These areas are all close to or already near the mountains, and couple hours to the beach.  Couple hours to international airports.  Thousands of jobs created in the past and continuing.  Low prices for almost everything. Big houses on big lots.  Great universities, great pro sports(DANG FALCONSSSSS!)  Even better food, beautiful women, children that don't cry, and supreme weather.  Investing in whatever kind of real estate will work in all these areas.  

HEY - Is this one listed for sale also on the MLS? You have in the description $1900 rent but in the detailed info $1900 per unit. How can we get in to see it?