All Forum Posts by: Gilles Gutnecht

@Hattie Dizmond this doesn’t apply in all markets. When the market is overheated and money is cheap, no contractors will start for less than an absurd amount upfront >60% (if not more) because that’s what people pay.

Ran into that issue... searched for contractors that would work with 20-30% upfront for an entire month, then gave up... was forced to hire one with 50% up front and sure enough I got screwed by him.

@Christopher Giannino thanks for insight - do you recommend using credit card at all? I've heard of people mentioning the use of a credit cards (via convenience checks deposited into your bank) to make cash offers on houses.. they mentioned refinancing afterward to pull the cash out and pay back the credit card company. I could see the DTI being an issue though..

@Drew Sygit thanks for sharing.

@Travis Biziorek - thanks for your insights on here.

I am a non-US citizen, living in the US. I came across a French investment group marketing houses in Detroit to French investors. They offer to locate, purchase, finance, rehab houses and lastly manage future rentals on the properties. They also guarantee rental income even if the house is vacant. They advertise a cash on cash return of around 12% and a house appreciating about 150% of the purchased price within 5 years. As far as financing, it’s 60% down on the house and they finance the rest. All they need from you as an “investor” is your cash.

I was wondering if you had an opinion on this? What bothers me is 1) they guarantee returns (anything with the words “guaranteed” and “return” within the same sentence rubs me the wrong way. 2) are those companies usually able to grab houses in the best areas (i.e. no war zones)? Seems really easy for them to grab anything and everything since the end investor is thousands of miles away. I’m just trying to get a better idea (from an outsider), of how those groups operate.

Hi all, I am very new to real estate investing and I have been looking at a property in Atlanta which appears to have great value appreciation potential.

I plan on living in the house while rehabbing and doing some short term rental in the process to help offset the mortgage. Once most of the rehab is done, I would look for longer term rentals and possibly move out of the house.

My questions is : has anyone had experience with short term rentals in Atlanta (Airbnb for instance) ? I am reading online that this requires having both business and hotel licenses...

Any tips/ thoughts appreciated :)

Thanks

Hi all, I am very new to real estate investing and I have been looking at a property in Atlanta which appears to have great value appreciation potential.

I plan on living in the house while rehabbing and doing some short term rental in the process to help offset the mortgage. Once most of the rehab is done, I would look for longer term rentals and possibly move out of the house.

My questions is : has anyone had experience with short term rentals in Atlanta (Airbnb for instance) ? I am reading online that this requires having both business and hotel licenses...

Any tips/ thoughts appreciated :)

Thanks