All Forum Posts by: Julia Brantley

Does anyone know if it is the sellers responsibility to pay for the second appraisal?? We bought in September, put on market January and under contract Jan 11. Need 2 appraisals and the lender is saying that FHA requires the seller to pay for the 2nd appraisal. I can't find anywhere it says that the seller MUST pay for the 2nd. Help!!

Oh wow.. good point @Scott Schultz.  I didn't even realize exemptions are applied to the property tax.  @Roger Pokorny- thanks for the pointers.  We're posted here for constructive criticism, so all your points are completely valid, and I thank you.

So here is the tax record from the commissioner's office.  This is indeed a primary residence currently.  I'm guessing I'll need to remove the $22k in exemptions to find the actual tax rate if we run this as a rental?

@Scott Schultz - Thanks.  About the closing cost, in the vein of being conservative that is the full brunt of the closing costs - we are asking for the seller to split down the middle.  Taxes and insurance are accurate.  We pulled the current tax record and have received quotes on the insurance.  $125k in metro-Atlanta gets you a 1200 sq. ft. townhome!

@Roger Pokorny - Thanks! Taxes and insurance are actual - pulled from current records and received actual quotes.

We really did load up on being conservative (very conservative) with the numbers. If we run the numbers that split the closing costs and put the rehab where we think it will be. We end-up at 9.8% CoC... I guess we wanted to be sure if something as low as a possible 6% CoC is worth a probable ~10% CoC.

My husband and I are looking to go in on our first buy-and-hold rental. I've been hearing and reading different things about Cash on Cash ROI and what constitutes a "good enough" return. My husband has a co-worker that says he springs for 8-12% (but he is in another state), while I have contacts that invest in my area (metro-Atlanta) saying 5-6% is good. Then, on BP forums, we are reading about people that won't go in on anything below 20%!?

We've identified our potential property (townhome) and are speaking with the owner. Right now, we have our incomes / expenses projected fairly conservative and are getting a 6% CoC ROI. I've attached the BP analysis for reference.

With our confusion around what is "good enough" CoC, we're posting here in hopes that the BP crowd can provide us some clarity. Thanks!

Thanks, everyone for the welcome! I'm happy to be here.

Look forward to interacting with all of you virtually and in-person in the future!

Thank you!

Thank you all! 

I appreciate that @RichardBalsam!

Hello! My name is Julia Brantley and I am currently a Realtor out of Alpharetta. I cover most of the greater Atlanta area, working with residential buyers and sellers. I've been active for 2 years now and my goal this year is to buy my first rental investment. (Not ready for a fix & flip yet $ wise) I'm hoping to gain insight on investing, but also to further my working knowledge of RE and to connect with Atlanta based Realtors and potential clients. I mentor new agents with my brokerage and some (or every!) deal can be crazy and I like others input to be sure I'm advising my mentee to the best of my ability. My husband found this site and urged me to check it out and I'm so glad I did! I'm excited to be a part of the BP network and hope I can bring some knowledge to the table as well! Looking forward to meeting you, BPN! Julia