All Forum Posts by: Germain Mopa

congratulations on your first property,that's the best way to learn. As long as you cash flow positive at the end of the month, I believe the deal looks good. I would talk to the tenant with your plan to upgrade and raise the rent. Give them the choice to stay until their lease ends or look for some thing and leave earlier without penalty. I believe strongly you have to put people first. Hope this helps.

I just joined the group. I am out of town the 22nd but I am looking forward to meet fellow investors.

Thanks

Is this still available? Would you PM me the address?

Thanks

Germain

Thank you for the replies. I will definitely check them out.

that sounds like a good idea. I am new to the area, I just moved move here 10 days ago from Vermont. We should connect ando maybe see if we can get one going.

Thanks

Hi all,

I am finally here in the area, we are renting a house in Smyrna GA to start. I am looking for REIA groups to join.

Thank,

Germain

Hi

I just moved to the greater Atlanta GA area (Smyrna), and I am looking for local real estate investing meetups.

Thanks in advance for getting back to me.

Germain

Hi all,

I just wanted to update the group of what I decided to do. I went with a P&S agreement with a delay closing 6 months out. We added a contingency on her selling her house since $25K as a deposit was a steep risk for her. (I worked with my attorney making sure that he reviewed the contract and the lease). The inspection went fine, I had to take care of few items, but that's pretty much out of the way.

I leased the property back to her at above market rate, she suggested since it is kind of a hassle for us. 

I was able to move the family to Georgia with this set up and not worry about selling the house, and making a pretty good cash flow before the closing.

Thanks again for chiming in and looking out for my best interest.

@Blair Knowles - I am so bummed I didn't get to  hang with you guys more before I moved. Life was so hectic, new job, house/rental hunting down here. I hope you are doing well, and when I need a realtor in Vermont, I will definitely holler at the Real Estate Agent of the Year. When I back to Vermont I will definitely try to reach out for drinks at least.

Germain

@Graham Mink - Long time no see my friend. Yes I feel sad to move from this beautiful place :-(. But we need new advantures :-). I did some reading and what I decided to do with the buyer is to do a Purchase and Sale agreement with a delayed closing within 6 months. The buyer put down $50,000.00 as a deposit.

We will lease the property to her until she sells her place and we can then close. I am removing the contingency on financing, and I am adding that we will do an inspection as soon as possible and settled on that. So after the inspection, there won't be really any contingency for the buyer to get out of the deal easy, unless something major happens.

The attorney is drafting the contract as of now. I will keep you posted of how it goes.

Thanks again for the replies guys.

@Michael Dumont - I will inquire about that, thanks.

I will keep you posted how it goes.

Thanks for the replies.