All Forum Posts by: Jasean Freddie Richardson

Hey I am in the final stages of closing on purchasing a new business that will help fuel my funding for buying more properties. I currently bank with Delta Credit Community and currently looking for another (possibly smaller) community credit union that's investor friendly in the Atlanta area. Any recommendations or suggestions? 

Thanks for this kind detailed and helpful information. The link that you shared is exactly what i need and has pointed me in the right direction.

Yes i would like to buy and hold but im fearful of any potential coding issues.

I currently have a 4/2 Home under contract in dekalb county Ga 30316. Records show that the home is A 2/2. 2 additional rooms added (unpermitted) Work has already been completed. Currently seeking update in county records but would like some advice prior to proceeding with this property. I was told by the seller that an appraiser could possibly update the county records but after research im not convinced. Anyone familiar with this process in Georgia? Dekalb Co.

Thanks for your kind words and support I would like you to send me any information on banks/lender that could help pull some of my money back out of this deal. One of the units is a 2 bedroom 1 bath home the other unit is a mobile home (wont qualify for refi from my understanding. The combination of the 2 units bring $1040 in rental income. Im looking to shop the home. Please provide me with any information its much appreciated. Happy 4th enjoy your holiday!

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $56,000
Cash invested: $56,000

I purchased 2 units south of McDonough Georgia cash in overall good condition. My next step is to cash out and refinance. If you have any recommendations for banks that do refi's on smaller deal please let me know thanks!

What made you interested in investing in this type of deal?

The cap rate was %15 with a potential %18-%23 ROI after refinancing.

How did you find this deal and how did you negotiate it?

My realtor found this deal on the MLS. %20 ROI turnkey property in a small town.

How did you finance this deal?

All cash (personal savings from my business).