All Forum Posts by: Jessy Milner

Matt,

Just like most other RE responses, it depends. Right now Charlotte has been a pretty hot market in certain areas so those numbers may make sense but other areas, like the west side of Charlotte it may take a bigger discount to entice a buyer.

Also remember that the 70% of ARV - repairs is what the BUYER wants so you will need to factor in a number lower than that if you expect to get a finder's fee. Right now there is a glut of newer properties at fair prices but it you can find a good deal it should sell.

I know personally we are having difficulty finding good properties at a good price, especially since the institutional investors continue to buy properties so any discount on those nice properties should find you a buyer.

Overall it is important you find a location that buyers are looking for and if you can find those # you should have a shot. Give me a call or email if you find one, I am always looking.

Javier 704-701-7150

He has worked on 11 properties for me and my team and I have always been satisfied, if you can mention I referred you it would be much appreciated

Hey guy, I know that it is possible to get loans in both your wife and husband's name seperately as long as you both qualify for a property on your income alone but does anyone know the exact procedure to do this on Fannie/Freddie loans so I can max out us both at 10 each?

Thanks Ali,

I read alot of your posts and appreciate your reply. I actually decided to continue investing in Charlotte for now, we are in the middle of picking up couple more and for me the numbers make sense, I know the area better and the team I have in place has consistently done a solid job.

Honestly, I know I need to diversify areas but the more I look around the more I continue to like North Carolina so maybe I could be missing out but in the long run I admit I just like the area.

Thanks again, you are a great writer, much thanks for all your posts!

Jessy

Thanks everybody for the comments, I will likely contact a few of you with further questions. I am leaning that Atlanta may be crowding out too. I am not looking to do any significant rehab projects remotely, I know 50-80K houses typically present more cashflow opportunities but in my experience they have also been more risky to manage from a far, as opposed to spending alittle more up from.

I would prefer to initially by a better house, in a better area finance the entire thing then pay lower in the beginning and pay right now for rehabs, if possible. I understand this is strictly my philosophy and others are right in theirs, makes me feel better and not as intensive while working a full time job.

How about multifamily out there? just 1-4 unit properties

Tyler,

I lived in Atlanta for a few years, those 50K properties are the exact ones I want nothing to do with right now. I will be managing these units myself from DC so I am ok with properties around 130 -150K, in the burbs, that are less intensive to manage remotely.

My goal is long term cash flow, buy and hold, so I am good with possibly investing more initially to save the pain of paying later.

Thanks for the quick response!

Hello everyone,

I am experiencing the squeeze from institutional investors in areas where I typically invest and was considering Atlanta as my next option for picking up a couple of buy & hold properties with good cash flow.

Does anyone have a point of contact for an agent or investor in that area who could help me get started? Any suggestions about the area would be useful, I am not looking for a war zone property just to get a good price or maximium cash flow, I am fine with a consistent, long-term property that I can safely hold on to for a few years.

Thanks guy in advance!