All Forum Posts by: Joe Cassandra

@Jay Ragland Whoa, that is incredible Jay! What areas of ATL are you working in? Ever come up here past the beltline?

@Dean R.

Sweet stuff Dean!

I always wanted to be an accountant growing up for some reason. Once I graduated, I realized on day 1 I hated it and was pretty bad at it.

In 2016, I quit and started a non real estate business that's done well.

Now, with a wife and 3 kids we just started our real estate company. We've done a flip and have a rental but definitely still learning as we go. Meanwhile, I'm balancing my other biz.

A lot of fun.

Love hearing stories like yours (and hope to hear more!). Definitely look forward to learning from your experience, Dean!

@Season Price

I'd take 100 different people out for coffee.

$5 each.

I'd bring a Starbucks cup with water in it.

Then, soak up as much I can. Offering to bird dog. Help for free at their sites, or wherever an expert would need help.

Basically...

Meet as many people as I can until I find a deal. Then, out of those 100, one of them is bound to help me invest for a profit split if I've provided any value to them.

Or, I could wholesale the deal to them if they dont want to partner.

@Patrick Conlon

I'd also find a lot of the local town magazines. In Cherokee county, for example, they have a Woodstock mag, Acworth, Canton etc.

Inside you'll find articles about where stuff is growing and updating.

Plus, they usually have real estate updates for the area in them.

@Gaege Root

Many say to find the deal first.

I had zero clue the prices so I bucked that, went ahead and contacted a bunch and all were happy to provide a quick estimate.

HML is really competitive now among each other so rates will be similar.

In ATL, normal rates are 2-4% origination, 10-14% interest.

Differences is all in the fees.

Only pay for an appraisal upfront. Anything else is a major red flag.

Also look for actual lenders NOT brokers. Brokers have higher fees plus their range of lending is "30k - $300MM". Real private money lenders have tighter mins and max. Some real ones might not finance repairs either.

Plus many real ones will tell you outright their lending their own money.

Investors know other investors.

Brokers know other brokers.

@Chad Carrodus whoa, this is really making me a do a double take :). This is super interesting stuff.

I see what you mean, looking at some of the new builds going on, and yeah the million-dollar homes around the Governor's Towne Club. 

If you trace I-75 up, it cuts through the East Marietta that you talked about. Then, through Kennesaw. But the "New Alpharetta" that you're talking about is west of Highway 41. I don't know much about that highway as I've never been on it, but it slices right through Buckhead and then downtown. 

Will that growth not move to Kennesaw and instead push up 41 to west Acworth? 

I think this is pretty fascinating especially your perspective on it Chad. 

Our plan is to flip a few houses, build up more of our cash reserves, then find some good, up-and-coming rentals (still keeping our rental in Woodstock as we're still growing here). Those rentals were planned for Canton, but maybe I need to rethink it!

@Chad Carrodus

I haven't looked much at Acworth. Do you see growth there the next few years? More than Canton?

@Matt Brown

I think Matt is right. Sounds like a non-REI realtor.

If they've been on the market for a long time and you're not even getting 1 counter offer, then she's definitely doing something wrong.

We put in an offer on a house that was on the market 60 days in a HOT market at 10% under. The seller was offended and said no counter. We said bye, next day he countered.

Realtor didnt do that necessarily, we wrote a letter to the buyer.

Try that especially with a low ball offer and a realtor that isn't fighting

@Jim Goebel Agree, "trashed" isn't the right word.

But when they run FB ads to a post getting 500+ comments bashing RE investing...I think they know the angle they're taking :)

@David Kuhlke You could find a personal loan using your $100k as collateral. You wouldn't get 100k, but more than 20k.

Higher interest likely too.

2nd option. Open a business account at a major bank and you may get a small LOC unsecured around 10-15k and get your 20k HELOC