All Forum Posts by: Jake Blickenstaff

@Trey Wilcox great to hear and sounds good. I'll shoot you a PM with my contact info.

@Trey Wilcox I also live andinvest in the Athens, GA area. I'm licensed as well, should you want to look at anything that's on the MLS. If you'd like we can connect and link up I'd be glad to go over what you're looking for that way if I come across something within my own marketing channels i can send your way. Be glad to help in any way that I can.

@Moncy Samuel i normally inform my tenants at the 90 day mark prior to lease expiration that due to rising costs in the economy and housing costs in the area we will be raising rent to "insert number here." Not usually exceeding $100/month.

With your situation and there not being a lease, draft one up for their new month, informing them of the change. If they vacate then raise to market immediately after the turn.

Hope that helps! I'm also in the Athens area if you need any local help.

Investment Info:

Mobile home buy & hold investment.

Purchase price: $146,000
Cash invested: $9,400

4 bedroom, 2 bath, 2043 sqft on 1.2 acres of land. Developing the land (fence, landscaping, driveway, etc) Will be renting out and should have a pure (positive) cashflow of around $200 - $250.

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

At the time I was needing a new primary residence that I wanted to eventually turn into a rental. A manufactured home that's larger than a traditional stick and brick house is about $40,000-$60,000 less and the rental rates for a nice manufactured house are around the same numbers. It made sense to go this route.

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

On the MLS as a new listing.

How did you finance this deal?

Traditional financing with 7% down.

How did you add value to the deal?

Land improvements (fence, driveway, landscaping) and some inside upgrades.

Lessons learned? Challenges?

I never want to personally install/dig a fence again! haha

@Mark Johnson thank you! I appreciate your response. That pretty much answers it. I wasn't sure how the off-market deals portion worked with the brokerages and the financial part worked for private capital. 

To preface my title, I've spent probably close to 2 hours scouring for the answer to this question and haven't found it just yet... and watch as soon as I post this there will be links flying in about the exact topic haha.

I'm aware that as a licensed agent, especially in Georgia, of all the disclosures that are necessary before an offer is made on a property.

My questions comes down to more on the investor/acquisition side and dealing with off market properties, as an Agent... are you able to creatively finance or utilize private capital for a deal? And if so how does that look for your brokerage? How is it structured? Or is it not worth the trouble as an agent? Because as an agent any and all real estate dealings/transactions that you're involved in have to be ran through your brokerage, as far as I know and have been told from mine...

I feel like I'm either missing something or maybe I'm not and it's just not clicking. Any insight would be fantastic. Thanks in advance.

 

Investment Info:

Single-family residence buy & hold investment in Villa Rica.

Purchase price: $107,000
Cash invested: $10,000

Bought in 2014 to live in and it needed upgrading. Over the course of 4 years I worked on the property room by room. Then I took a job elsewhere and decided to rent it out.

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

Bought in 2014 to live in and it needed upgrading. Over the course of 4 years I worked on the property room by room. Then I took a job elsewhere and decided to rent it out.

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

Property was originally listed for sale on the MLS.

How did you finance this deal?

FHA then refinanced to conventional.

How did you add value to the deal?

Upgraded flooring throughout house, appliances and paint.

Lessons learned? Challenges?

I learned that I hate removing popcorn ceilings. haha

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No.

Carrollton, Villa Rica, and Temple area. Need to be within approximately 30 minutes of the power plant down there.

What's up all?!

I just got preapproved for my first home loan of $130k (insert my happy dance lol) and am relocating to West Georgia within the next 4-6 weeks for my job. The wife and I's game plan is to find a turnkey SFH and that we can do a little rehabbing/upgrading to, adding value over the course of 1-2 years. (We already have the style selected that we'd like to stick with.) Then rent it out at the end of that period and move again.

For now, we are looking for a realtor for our potential primary residence and I thought this would be an excellent opportunity to network with some of the amazing people here on BP and maybe make someone a little cash in the mean time! If anyone has the time, is interested and is familiar with the Georgia market hit me up!!

Thanks in advance!!

Jake

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