All Forum Posts by: LaRhonda M

 Our best deals NEVER seem perfect ahead of time.

Imo the better way of looking at it, is what are your exit strategies if things don't work as planned.  And I think your best deals will be those that you make "perfect".  

Everyone can do the basic math, its a really competitive market right now, you almost have to find a property that you can turn into a deal.

Look everyone can luck out and have a deal fall into their laps, but the reality is today, deals are made, you a fixing something up, seeing something used in a different way than the average investor or whatever to make something a deal.

Our best deals in the past we have paid over asking and no one else saw what we saw in the property.

A couple of examples, one of our houses had terrible pictures, and we paid over asking.  $500/month in net renta and  $100K in appreciation since 2014.

Another house we had $200-210K in equity since late 2015, $1000/month in cash flow.  We put 20-30K into a 180K property, and have refinanced it to remove all of our initial investment.  Took a funky 3 bedroom house that rented for $1,400/m and turned it into a 4 bedroom house that is typically rented to med students for $2800/month.  Og and this house is sitting on a multi family lot with a view of downtown.....AND a LOT of major development in the area.  IE the lot could be redeveloped in the future for more upside.

If you ran the numbers $1,400/month rent on a house you paid $180K.  Not the greatest numbers.  it wasn't the "perfect investment".  We did things that MADE it the "perfect investment"

IMo that's the thing to look for, what can you do to force appreciation?

Great information!

@LaRhonda M Go to a few GA REIA meetings as mentioned, in my opinion the sub groups are more valuable than the main meeting. Also come to the Atlanta REI Meetup that happens once a month, it is held the last Wednesday of every month at the Ivy in Buckhead. It is an even better value than the REIA's in my opinion as it is completely free. They have over 1000 members on the facebook page and typically have 100+ members show up in person. Always great speakers and incredible networking opportunities. Here is the link for this months meetup https://www.biggerpockets.com/forums/521/topics/725248-july-2019-atlanta-rei-meetup 

@LaRhonda M

I just started my real estate journey in Atlanta! Assuming everything goes alright from here, closing on August 23! First one and I’m out of state. I’m hoping Atlanta is a good area. I finally decided to jump in, so I’ll let you know how my experience is as I move along!

I've been member of GA REIA off and on since early 90's, when there was no Atlanta REIA, so, I can't tell you much about the 2nd one. If you join GA REIA, join some subgroups, because there are fewer people and makes networking easier.

@LaRhonda M

Georgia REIA is a great one to join. I would also join any Atlanta investment groups on Facebook that you can find just to start building your network and maybe see some examples of properties.

When first starting out it’s important to determine what strategy you are looking to use (fix & flip, buy & hold, etc.). Also what you are trying to get out of your investments, whether it’s just a little extra side income or eventually your primary. At the same time, I would reach out to contractors, lawyers, lenders, etc. to try and establish your team that will assist you along your path.

If you have any questions don’t hesitate to reach out!

Alec Granger

New Western Acquisitions

Newwestern.com

Join Georgia REIA or/and Atlanta REIA