All Forum Posts by: Matthew Nicklin

Can confirm the Atlanta rental market is hot right now. I just ran a rental listing last week with a higher rent than I was expecting and my phone rang off the hook with multiple applications. It was leased in 2 days. I was able to secure a great tenant for $75 more rent than Zillow estimated and about $100 more than some other rent estimators. 

Looks great! Congrats on your first flip. I live over in Woodstock and do a lot of deals around Cobb and Cherokee county. Would be open to talking to you sometime about some deals. Keep up the great work! 

Pros are higher CAP rates if you can get a reliable tenant etc. As prices are less and rents are still decent. C is probably about as low as I would be willing to go.

Short answer: Risk

Long answer: Your wholesaler is probably not bringing funds to the table which means they are going to be using your funds to allow the wholesaler to purchase the property from the original seller and then sell it to you. If the wholesaler was bringing funds this would not be an issue. Based on the way trust accounting is supposed to work you can not use someone elses funds to close a deal then use those same funds on another closing. Some attorneys will do it but others wont because it may effect their insurance or throw off their trust accounting. 

You have 2 options.

1. See if the wholesaler has an attorney that is comfortable with this transaction.

2. See if the wholesaler is comfortable with using assignment as any attorney will be ok with assignment. The downside to using assignment is you as the final buyer will see how much the wholesaler is making so some wholesalers do not like that option. 

I would try to do the refi if you can, depending on costs. If you sell the apple stock that is a taxable event so you will have to pay taxes on the gains. You can look at the pros and cons and determine if the taxes are less than or greater than the cost to do a cash out refi. 

I like to invest in my local area which is north of Atlanta OTP. You really need to focus on 1 or 2 markets and master those markets so you know what things are selling for etc. With that being said anything that values out below the average home sale after repair moves quick, but margins can be thinner for an investor/wholesaler. 

What state are you in? Every state has different laws. Some are tax lien states, some are deed, and a few are hybrid states. 

What part of Georgia is it in? If you just walk away it could mess up your credit to the point you wont be able to get financing for future deals.