Quote from @Jingru Sui:
Wow $1000 cash flow a month. That seems super good. What kind of down payment you plan to put down. Obviously the more you put down the more achievable it can be. But most of my investment property that i put down 25% doesn’t have that much cash flow. If you do find a way to achieve that please share how.
Hi Tina - yes it is a lofty goal but one that I think is attainable with the right size house in the right place. As far as putting money down, I am working on how to get 25% in cash. I figure on a purchase price between 100k-200k with a substantial rehab as I am using the BRRRR strategy. So, if this is realistic, a down payment of $50000. I already have a substantial chunk of that from refinancing my house last year with cash out. But I am trying to piece together the rest of the puzzle of the remaining down payment (possibly HELOC) and then finding a BRRRR ready property (which is in incredibly high demand these days) along with rehab financing.
What parts of Atlanta does most of your real estate business center around? I am looking for BRRRR properties within Atlanta City limits within 5-10 minutes of GSU, GT and Emory - both MLS and off-market. And, although I am completely new to real estate investing, my long-term goal is to have a minimum of 10 of these units purchased, rehabbed, rented and refinanced within the next 5 years. So, I am seeking long-term relationships with investment savvy realtors - hopefully a long-term win win. Please let me know if you have early access to these types of properties if within City of Atlanta limits and/or if you have any great contacts for general contractors, handymen and mortgage brokers.
