All Forum Posts by: Hal Davis

Update:

Closed on my 3rd SFR in November. So:

3 bed, 1.5 Bath - 1.24% on 1% rule

3 bed, 2 Bath - 1.22% on 1% rule

3 bed, 1.5 Bath - 1.26% on 1% rule

In theory, I'm looking at 15% cash on cash return and 24% total return before tax deductions.

 Not sure Mark, I'm trying to get into fixed, long term debt to capture the low interest rate advantages against the not-so-low pricing in the current market.

Hey Mark,

I used Georgia's Own credit union to finance a buy-and-hold rental property. Great rate (3.5% on a 15-year) but they cannot finance a deal with an LLC, only with individuals.

You will have to have an account with them, I think there is a minimum balance requirement in the account.  

If you find yourself wholesaling a good rental property, let me know.

Thanks for the welcome responses!

Ralph, I used to live just In Peachtree Corners before moving to Rome. I used to play golf in Suwanee, nice area.

As long as there is a reasonable property manager in the area, I am open to investing anywhere (especially areas that I know).  As you can see, my first two deals were OK, I'm putting a little more work in finding opportunities where I can get into properties below market value.

Hello all,

I'm a 35 year old who has only been investing for 2 years.  I got into rental investing when I moved from Atlanta to Rome, Georgia and didn't like the market price for my primary residence at the time.  I rented out the house until prices came back and it worked out pretty well.  

I rolled the proceeds from the sale into a cash purchase of a 3/1.5 in a good rental neighborhood.  $52k that rents for $650.  So far so good.

A few months later a nice 3/2 hit my radar and I financed the deal at $67k that rents for $825.

I use a property manager here in Rome and they have been great to work with, although they do not have direct deposit, they do take care of everything and only charge 6% with no upfront fees.  I have more than a full time job and a 4 year old son.  I want to be an investor and not a second job.

I have a one-hour each way commute which I fill with the BP podcast (among others).

Looking forward to doing some networking and learning on BP.

Thanks for having me,

Hal Davis