All Forum Posts by: Giavonn R.

2649 Nelms Court Decatur, GA 30033 (Lease Purchase)

• Purchase Price - Negotiable
• Down payment - 5-10% of purchase price
• Monthly Rent - $3,500

(Down payment will be credited toward purchase price)

This stunning home is located in one of the most desired areas in the Metro Atlanta area. In the top ranking Oak Grove Elementary school district. This home features a 5bd/3ba, 5 car garage and all of the space that you will ever need. This beautiful well-kept Lavista Hills countryside home is located near Shamrock Forest and is conveniently located near Emory University and Downtown Decatur.

It could be yours without the need to go through a bank! This home is great for a growing family or young working professionals to share.

Call our team at 770-344-9961 or email [email protected] for additional information.

You don't want to miss out on this Cobb County cosmetic fixer!!

This spacious home is located in the highly sought after Brookstone Golf and Country Club Community in Acworth, GA 30101. It is situated in one of Cobb County's Top School Districts.

This house would make a great property quick flip or fix, buy and hold investment.

ARV between $400K - $480K (closed sales in the last 6-months and same subdivision)

Priced to sell fast!!

Property is occupied, please do not disturb.

Call us at 770-344-9961 or email [email protected] for additional pictures, information and to schedule a viewing.

@Jo-Ann Lapin and @Charlie Fitzgerald- I will PM you to find out about your programs.

@Account Closed - I wish I could have gotten your Grayson property....LOL  It is a great little area.

Hello everyone,

I am looking for either private money or conventional financing on a 37 acre ranch in Lake County California.  It is free and clear and I need to make some improvements on the ranch and another property in Hidden Valley Lake, plus have cash on reserve.  I am looking for about $125K. - $150K. Value is between $279K - $315K conservatively based on recent fires in area. My credit is 700+ and income will come from the property. I have self-employed income as well.

I am looking for the lowest payment as possible for about a 2-5 year term or a 30 year no prepayment penalties.

I also thought about getting a HELOC, but I was told that was for only owner occupied properties.

Please share any creative plans or options you have for me.

Thanks,

@Ashley St. Gelais - Estoppel letter.  I will have to research that one.  Now that I am about 98% sure the deal is going to close it may be time to ask the seller if I can just talk to the tenants and get something in writing.  Either a new term-lease or Estoppel letter.  I may need a translator because they are Spanish speaking.

Thanks again,

Giavonn

That sounds like a good idea to me.  That way the tenet is covered to stay paying lower rent for another few months and I will be covered to increase the rent after that time frame.

Looks like I will be posting/reading this forum now.

@Brooks Rembert - Thanks for the tip!!

Hello BP - I am about to purchase my first rental property after a long while of being in the business.  There is a tenant in place that is a friend of the seller so it is month to month, no deposit and they pay about $100 under market value.  They keep the house well maintained I have been over there 4 different times and it is always very clean.  

The seller is very nice and asked me if the tenant could stay 1 month after we close, they will pay the $900 rent to me and then at that point I could get a new lease higher payment from her or give notice to move.  

Is there something that I can do or request BEFORE closing in a few days to protect my interest and possibly save me from some of the headaches I have seen other BP's talk about?

Any suggestion are appreciated.

Humm....... Yes I better get this house checked out by a reputable foundation person. I am getting the house about 20% below market value. It was remodeled about 5 years ago by the contractor selling me the house, so there are no major repairs to be done. It is rented and I will be getting about a 1.5% rent to mortgage ratio. It is a good deal, but I want to make sure if I need to sell it in the future I will be able to do so without too much cost.

@Jay Whitfield - Thanks I will see if they have one near me.

@Bob Thompson - Very valuable and scary insight!!  I am not ready for a $20K repair job.

@Account Closed - It is a 3/2 ranch, purchase $95K, ARV $122K, No cost allocated to foundation repair, but there is about $27K in equity that I want to keep.. That is why I am OK with a $5K foundation fix, but not a $20K fix

I have a contract on this (see pic) property and I was wondering if this is going to be a $2K fix or a $10K+ foundation problem? This will be my first buy and hold property since 2008, so I am analyzing everything this time around. I am looking for a contractor and/or an inspector that can give me some repair numbers. So if you are close to Lawrenceville in Gwinnett County let me know.

I am asking my fellow BP members/contractors for some ball park figures about the cost and work that will be needed to get the property in shape. Any suggestions, comments or feedback are truly appreciated.

Thanks,

Giavonn

This picture is from the back yard under kitchen dining area.

This is a pretty big crack in the driveway.