All Forum Posts by: Josh Bowser

Hey Nathan - this is the million dollar question.

I would take a look at all of the MLS data sites (zillow, redfin ect), fb groups / marketplace, craigslist, and other marketplaces where FSBO properties are listed. Sometimes larger portfolios for sale will have owner financing terms a seller is willing to accept (always negotiable).

I'd build a network of agents and owners in your select markets that work primarily with investment properties. These are the folks that know who is getting the itch to sell before anyone else.

Hey Alec - I'm a fellow yinzer but have relocated to Atlanta.

My fiancé and I house hack down here and we just bake it into the rent. 

You can (likely) put into your lease / roommate agreement that you and your roommate(s) will split utilities. However, it will be easier if you just take one payment (account for utilities in the rent) and it will be more attractive for a tenant to pay a flat fee for more $ than the ambiguity of rent + 50% of utility bills.

Feel free to reach out if you have any questions!

Hey BP rehabbers,

I came across a house that has roughly 400 square feet of existing, unpermitted additions that does not show on the tax records. 

Has anyone had success of getting these unpermitted additions approved and added to the tax records during a rehab? An extra 400 sq ft in this neighborhood is worth ~ $80k which is a significant way a client can add value. 

Interested to hear anyone's thoughts and things to avoid on this - thanks! 

Hey Yogendra - first of all, congratulations on being in a great position!

In this market, there isn't a need to rush if you're just looking to buy an normal LTR investment property as it is going to be tough to cashflow. From a risk adjusted return, your money is looking good earning 4-5% in an HYSA right now.

If you're interested in house hacking, this is could be a could time to get into a SFH or Duplex in a great location. The house hack approach can help you cut down on your cost of living pretty significantly in a market like Atlanta. For example, renting 3 brs in a 4 bedroom house / townhome can get you to cashflow positive if you're putting 20% down. You could likely get a duplex to cashflow positive in some parts of the metro as well.

If house hacking isn't your thing, you could take a look at the rent by the room model on a platform like padsplit where you can get to pretty serious levels of cashflow. This would be a non-owner occupied property that would require converting common living spaces into extra bedrooms.

Hope this helps!

Hey @Amy Lee - you should check with the property manager of your apartment complex as there should be a way to buyout your remaining lease. TYPICALLY, you need to give a certain amount of notice and pay a certain portion of the remaining lease. 

With an FHA 203k you should be able to live in another dwelling as the renovation is being completed, but you will need to talk with your lender / mortgage broker to figure out what that would look like as it will likely vary depending on scope of work!

Hey Nick - house hacking is typically the best way to go when you're living in a HCOL area if you plan on staying there for a long period of time. Reason being, you're going to be collecting 'market rent' that you would otherwise be paying to help offset your living costs. 

With that being said, I am not at all familiar with your market.

Do you have any friends/family/family friends in the area that own rental properties that might be willing to throw you a bone and sell one to you at a discount where it makes sense for you to get in? I have a few buddies that got their start this way and it's made a large, positive impact on their finances!

Hey Jonah - I would seriously consider housing hacking if this is going to be your first property and you are in the financial position to do so.

Sure, you can go out of state and buy more properties in a cheaper market like Atlanta. However, it is unlikely that you will able to offset your living costs with the cashflow out of state on your first few properties. When you are house hacking, you get all of the other benefits of owning an investment property AND it saves you from otherwise paying rent.

If you're in a position where you are not able to house hack, take a look at David Green's "Long Distance Real Estate Investing" book.

Hey Brian - are you working with an agent that helps clients find a lot of fix and flips? You should be able to tap into their network if you're doing deals with them. If not, feel free to reach out. Contact info is in my bio!

Hey Mickael - I feel like a lot of people are intimidated when they are newbies at meetups which is totally normal. As @Michael Dumler mentioned, a lot of the people at meetups are new to REI.

From what I have found, it is a lot easier to talk to people with the frame to help them solve their problems. At first, this is mostly done by connecting people that you have met until you build the knowledge muscle to help some people out all on your own.

For example, you might find out that two people at the same meetup (or different meetups) can help each other out. You start meeting hard money lenders, and connecting them with investors. Start meeting flippers, and connect them with contractors and visa versa. 

Here are some good probing questions:

1. What projects are you currently working on?

2. What areas do you do business in / what is your favorite area to do business in?

3. What is your strategy / profession?

You might find some people that are interested in investing in an area that you live in, and can share some local market knowledge they may not know! 

To be honest, most real estate professionals / investors are incredibly helpful to the point where they will give you their entire playbook in my experience. Same goes with the BP community!

Hey Ankit - it is definitely doable to obtain a few hundred a door on the outside of the Atlanta metro. However, these deals typically are in multiple offer situations (which is fine).

I have seen folks have success implementing the rent by the room strategy in Atlanta where they can cash flow $1k+ / door.

Please feel free to reach out if you have any questions - contact info is in bio and phoneline is always open!