All Forum Posts by: Ethan Atkinson

yes. Get prequalified for sure.  On most "deals" they won't even consider your offer unless there is a proof of funds or Prequal.  There is often multiple offers or the properties will go quick so get prepared now. 

Yes. Get prequalified for sure. On most "deals" they won't even consider your offer unless there is a proof of funds or Prequal. There is often multiple offers or the properties will go quick so get prepared now.

I am biased, not just for Georgia, but for making money and good cash flow without huge investments.  In my town of Athens, it can be tough to find deals right now, but not based  on plenty of conversations I have had with other California people.  There are tons of condos and houses in the $90-120k price range, and you get $1000-1200 per month rent. Some have higher HOAs that run $120-180 per month, but these are in A+ communities.  Just recently there were 3 duplexes listed and under contract quickly for $87-$93k. They rent for $1000-1200 a month.  I am an agent and investor looking for these deals and helping other investors buy them all the time.  That's my 2 cents for Athens, Georgia, The Classic City, home of the Georgia Bulldogs.   PM me if you need some help and want to make some easy cash flow.  

I can point you in the right direction. Send me a PM.  I know all about Athens and property management.  

HARD MONEY! 

Call me. I dont have your number saved but thought I did. 10% cap rate is OK. Many of Athens B and C properties are selling for 7-9 caps right now. Seems to be too low for what you are getting and could get with some more marketing and finding "off-market" deals. If it's on the MLS it's probably not a deal in Athens.

I know a good commercial broker you should call as well. If you haven't already done the market research they would be a great resource and would have some great attorney contacts as well. 

Come on out to the next Atlanta REIA and Georgia REIA meetings. There are some great people to connect with each meeting. Atlanta REIA even has an onsite renovation meetup to see what the experienced folks are doing. There area also indivudial smaller meetings for each side of town North, West, and South. Not sure why they gave up on the East side?

This is a decent thread here and I have been talking about this same subject but from a different angle. There is another indicator that people don't talk about much, or maybe have already on this post, so I am sorry if it's a repeat, but there are many of the same exact situations going on now that happened in the 2005-2007. More people are getting into the real estate and mortgage industry than in the past few years. More first time flippers and investors buying rentals are getting into the game. This is helping drive up prices in the already high demand areas. This same thing happened in 2005-07 with a flood into the market. I am not saying it's a bad thing, except for the super low supply from a buyer standpoint. It doesn't matter what causes the next downturn, but it's not here yet, and won't be for quite a few months, and it won't be nearly as bad as 2008-2013. My goal now is to only find off market deals anyways. Maybe if more first timers' money wasnt burning a hole in their pocket the MLS would still have some deals.

PS - If you have any deals in the Atl Metro area, send them my way! 

@Romont Johnson - Welcome to the BP.  Hope you find it treating you well and I am sure the connections you make here will be extremely helpful and plentiful.  Great work on the appreciation for that 7 BR - Are you going to 1031 that money so you don't have to pay any tax any time soon?  Is it too late?  There are projects avaialble all over Atlanta, dont get discouraged and dont worry about walking away from a deal.  

 @Alec B Calzada  Hey- I hear some good things about Augusta, as I am in Athens, not far from there. Why Augusta, or is that just the starting point for where your family/friends live?  The flipping opportunity could be there with less competition, but you also have less buyers who will pay for the big nice project you complete.