All Forum Posts by: Greg Moritz

Hi Ratheeh,

My opinions below...

1.  7 cap sounds very poor to me.  There are lots of properties out there like that.  It's up to you to set your criteria, but I'd never even look at anything under a 10-cap.  What size multi are you looking at though?  Cap rates are compressed for larger multis.

2.  No opinion here.  I'm a city rat.  Anything I said would be pure unfounded speculation. 

3.  Lots.  What are your goals for the property?  What are the exit strategies?  What work is needed on the property immediately?  What big items are upcoming? Will you be using a PM company?  Are the units currently occupied?  What's the neighborhood like?  Etc.  I recommend picking up the BP book on rental property investing to get a much longer list.

4.  A good deal is a good deal and a bad deal is a bad deal, regardless of market stage.  Buy things that would still be financially healthy if a market correction occurs sooner rather than later.  

@George Taylor What are the bumps?  

Hi Amy,

I'm interested!  Let me know what you have. :)

You've received good advice about cash out refinancing above.  In addition, take a look at the delayed financing rule.  This allows you to not have a settlement period for a property that you pay cash for.  Pay cash and the next day (virtually) you can then get 75-85% of it back and have a mortgage on the property.  

I make many all-cash offers and rely on this method.  All cash offers with a solid proof of funds show buyers that you are serious and there's less risk of the deal falling through. 

This post is too vague for us to give you any meaningful help.  Why did you choose Atlanta?  What is your buying criteria?  What are your goals?  

I have a strong suspicion that most people that sell seminars and systems make far more from that than they ever did in real estate.  

In addition to the HOA catching you, a savvy tenant will be able to hold this over your head. I rented in a situation like this for a few years and while it worked out well for both me and the landlord, when it came time for rent negotiation the first thing I did was make sure he knew that I knew that he was renting it in violation of the HOA...

I'm an Atlanta area cash buyer interested in your properties.  Please add me to your list.  [email protected].

@Ericka G., do you have a recommended contact at your bank?  I'm doing a quad now and there is a pretty big hit with my bank if I do less than 25%.  Being able to put 15% down and still get a good rate would be freakin' awesome.