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All Forum Posts by: Germain Mopa

Germain Mopa has started 11 posts and replied 36 times.

Post: Joint Venture agreement - Enough for protection

Germain MopaPosted
  • Investor
  • SMYRNA, GA
  • Posts 43
  • Votes 20

Hi All -

I am in the process of doing a deal with someone else. I will be bringing in the down payment and holding costs. He brought the deal, put it under contract, everything is set through his LLC (I came in about a week before closing date). We have a JV agreement in place. I wanted to get on the title/loan, but it's only few days 3 days before closing and the (Hard money lender) said that they only feel comfortable going with the original LLC as they are many changes to the contracts happening, and they haven't met me or know nothing about me.

I have done one deal with this person, even though this one will be a different deal and I will be bringing more money on the table. I wanted to be on the title/loan more for protection and peace of mind. As far as I am concerned there is no red flag, weird feeling from the other person.

Would a JV agreement be enough protection in this case.

The deal is a complete demo and rebuild, then refinance into an llc that we will be both member of, with an operating agreement in place.

Thanks

Post: Buy and hold in Austell GA

Germain MopaPosted
  • Investor
  • SMYRNA, GA
  • Posts 43
  • Votes 20

Hi all - I am looking at couple properties in Austell, potential buy, fix and hold, 30106 area. Anyone investing in that area has feedback/advice?

Thank

Post: Buy and hold in Austell GA

Germain MopaPosted
  • Investor
  • SMYRNA, GA
  • Posts 43
  • Votes 20

Hi all - I am looking at couple properties in Austell, potential buy, fix and hold, 30106 area. Anyone investing in that area has feedback/advice?

Thank

Post: Applying for a HELOC

Germain MopaPosted
  • Investor
  • SMYRNA, GA
  • Posts 43
  • Votes 20

Hi Sarah - you can get an heloc on an investment property. You have to call the banks and ask including credit unions. Some will say no, but again you just need one to say yes. I did an heloc on an investment property i used to own.

Good luck

Post: Dipping my toes in the waters of Cincinnati? Atlanta? STL?

Germain MopaPosted
  • Investor
  • SMYRNA, GA
  • Posts 43
  • Votes 20

Hi newbie 😁

Well you are in the right place for resources and connections. Just keep going and dont stop learning and try to apply what you learn.

Bonne chance

No one has mentioned, but have you tried apologizing to the tenant? Looks like you took pictures of her bedroom after she asked not to. So I would start by apologizing and try to deescalate the situation, if it fails then follow what others have said.

Post: Looking for a Stucco inspector (House in Smyrna Georgia)

Germain MopaPosted
  • Investor
  • SMYRNA, GA
  • Posts 43
  • Votes 20

Hi All,

I just put a house under contract and need a Certified Stucco inspector (for sale by owner). This house is to be used as our primary residence. The siding might be EIFS stucco, not sure yet. We'd like to have a throughout stucco inspection done on the house before moving forward.

Thanks,

Germain

Post: Wanted Fixer Upper for primary residence - Metro Atlanta Georgia

Germain MopaPosted
  • Investor
  • SMYRNA, GA
  • Posts 43
  • Votes 20

Hi all,

I am looking for a fixer up as my primary residence. Anyone who comes across a property that might fit the bill, please let me know. Here are the details of what I am looking for:
- Good curb appeal (brick colonial, craftsman style, cape style etc... not a big fan of raise ranch)
- Good size backyard - able to put in a kid play set and run around.
- we'd like to keep the renovation inside the house meaning (new kitchen, new bathrooms, taking out few wall to open the floor plan, new floors etc...)
- Landscaping work is definitely fine, we'd have to do it anyway
- At least 2000 sft house with garage
- 3-4 bedroom and space for a home office
- basement would be great, but not a deal breaker

About the neighborhood:
- Family friendly neighborhood
- easier for kids to ride a bike for example
- Walkable neighborhood

Location/Towns we like: Sandy Springs, Dunwoody, Smyrna/Vinings.
Elementary schools
- Dunwoody Elementary in Dunwoody
- Heards Ferry Elementary school in Sandy Springs
- Spalding Drive Elementary School
- Kings Springs and Teasley in Smyrna/Vinings

Budget - wish I had an unlimited budget here:
- I'd like to stay around $400K for the purchase price and total renovation for 80% of the ARV (appraisal value really).

I hope this helps.
Thank you.

Post: Is it weird to buy rental properties instead of primary residence

Germain MopaPosted
  • Investor
  • SMYRNA, GA
  • Posts 43
  • Votes 20

Congratulations on pulling the trigger. I believe the hardest part is to have a burning desire that you seem to have, and for putting a plan together to achieve your goal. I think you are doing well by thinking about what your sister says, but you should stick to your plan until you think that it doesn't get you closer to your goal. Others opinions are just that, opinions. Don't let that deter you from your goal.

Again congrats.

Post: NEW CANDLER PARK DEAL! LOW DOM! VERY LARGE HOME READY FOR RENOVAT

Germain MopaPosted
  • Investor
  • SMYRNA, GA
  • Posts 43
  • Votes 20

Hi,

Can this be renovated into a duplex?

I am interested. Can I take a look?

Thanks