All Forum Posts by: Matthew Nicklin

There are a few smaller community banks here that keep their loans on the books(portfolio lender meaning they keep them in their portfolio not that they lend on multiple properties of yours). 

There are also your national portfolio lenders but I would say the community banks terms are going to be a bit more favorable. 

Both the local and the national lenders are going to have commercial terms meaning they wont be 30 year fixed rate loans. A lot of them are 3 or 5 year fixed rate loans with varying amortizations. I don't think we can mention names or give recommendations in the forum but if you PM me I can tell you a few lenders that I know of. 

@Dominique Ross Congrats on finding a good agent that is investor friendly. I have people tell me all they time that they are hard to find and are happy they found me.

I have not worked with Supreme Lending before but I would recommend working with smaller community banks. They treat you like a person and not just another number. I have a handful of banks I can call that know me by name and I can speak to a live person at any time. These relationships have been extremely valuable over the years. 

@Riley Oder Always open to connecting and networking. I am an investor and a Broker. I have completed multiple BRRRRs, flips, and I am a buy and hold investor. I have also helped many other investors do the same.  

I agree location is key. Cartersville has grown a lot lately. When the time comes make sure you get good pictures for marketing the rental. I pay a professional photographer and it is so worth it!

I am sure you can reach out to them. Feel free to PM me and I can send you their name. As long as your not wasting their time I am sure they will help you. Most of the successful wholesalers I know are willing to share their strategy and what they are doing. 

Depends a lot on the wholesaler and their pipeline. I know wholesalers that may only do 1-2 deals a year. I know another couple that brought in over $1M in assignment fees in 2019. 

I know a lot of wholesalers that wholesale properties in Deklab. Whats your question? You should post it here for the benefit of others.

I know of a few that sell turnkeys but they are not as common as they are in other markets(extremely common in cheaper markets like Kansas City etc). I think you are better off finding a good agent and property management company. You can also buy a tenant in place property off of the MLS if that is of interest.

What do you need help with? How confident are you on your rehab cost estimate as this is really what is going to make or break you. I always tell people to work the numbers backwards. So for example $250k sales price - selling commission($15,000) - Repairs(~$100,000)- Holding costs($15,000)- Acquisition costs($5,000)- Purchase price($80,000). So assuming those ruff numbers are right then potential profit is $35,000. Again it is all about the numbers so you must be confident in them. Your rehab costs will vary based on your contractor, I always recommend over estimating as there will be things you find once you get into it that will add costs. Your holding costs will vary based on your loan terms, taxes, and insurance, and time held($15,000 maybe a very low estimate). Feel free to PM me I am happy to help with any advise etc. 

I think everyone has their own investment criteria and different risk tolerance. I personally only like to invest in better areas as I invest for stability and growth in addition to cash flow. A deal has to cash flow for me to even consider it but I also want to be in a stable area with a greater chance of appreciation. I look at data like incomes, crime, schools, etc to make that determination. If I see incomes stable or increasing with good schools that is a good sign. If I see crime raising with incomes being relatively flat or with low growth thats a no go for me.