All Forum Posts by: Matthew Nicklin

I like to use AlphaEvicition, Frann and her team are the best. They will coordinate the actual set-out with the sheriff/marshall and remove all personal property and change the lock for you if needed. You can also use PDQ Services as well, I know some investors that prefer them.

The important piece is just make sure your prepared. If you have your own team make sure you have enough people otherwise the sheriff will say there are not enough people for the set-out and delay it on you. In my opinion it is worth spending the money to hire the professionals both from a liability and headache saving perspective.  

1% rule in Atlanta Metro for class B... that is a tough one. We havent seen anything like that in some time. Feel free to check out the blog post I made https://www.biggerpockets.com/... the rent to price ratio map maybe of interest to you and give you a better idea of what rent to price ratio to expect for a given area. The Atlanta market is very competitive right now as we have a huge population increase and a growing robust economy. 

That is a hard questions to answer without having all the information. What type of property is it? Is it on the water or just near by? Do you have the management in place to manage a short term rental? Is it a desirable property for short term rental? 

You can take most properties and make them a short term rental, but it takes the right property to be a very successful short term rental. 

As others have mentioned, if you get in contact with a good agent they will be able to guide you and get you MLS access. They can help you with a lender, the area, things to look for, etc. I would also recommend driving a few areas to get a feel for them, as Atlanta has many different areas.

To get a general idea of where you would like to drive or research more you can look at statistics like median income, crime, and school ratings. 

If a property goes into foreclosure, doesn't sell on the court house steps, then it becomes REO. Meaning the lender uses their bid credit and takes title of the the property. REO standing for Real Estate Owner(by the lender) It is pretty difficult to buy these properties directly as an investor, as the lender wants to sell this property for as much as possible. Most of the time they end up with an asset manager who then works with an REO agent to list the property on the market and sell it through traditional channels.

@Ankit Garg Thank you for the tag! @Nick Brubaker happy to discuss with you. Feel free to send me a PM, we can setup a call. 

If we are not a right fit, I probably have someone I can refer you to as we are NARPM members and know a ton of property managers. We are selective on the properties we take on to ensure we can manage them effectively. Happy to discuss more via phone. 

@Kinjal Patel feel free to PM me. BP doesnt like open endorsements on the forum, but if you can PM me I will share the company I used. 

I agree with @Tony Gunter $20K isn't much to work with and could get you in trouble if you are not careful. Even if you find a HML to lend you only 10% down you will need reserves for the loan and rehab etc. Most of the time your floating the money for rehab then getting reimbursed by the HML, unless you can find a contractor willing to wait for payment from the HML but that can be difficult to find.

I would either save up more to have proper reserves or invest in partial notes. I am an investor and Broker in the area, feel free to PM me. 

@Aileen Ong I would certainly agree there can be some correlation between income, crime, and schools. They are all independent factors though that you should be looking at when choosing a target market. 

I guess the definition of "upcoming neighborhood" can differ. Some of these areas with lower stats may never come up, so it is hard for me to call them upcoming neighborhoods. It would take a big catalyst for them to come up. Something like the recent Microsoft announcement is an excellent example of that, it has changed the market a lot in that area and as of writing this post nothing is even built yet. 

Most of Metro Atlanta is pretty hot right now. Whenever I talk to investors who are trying to break into the Atlanta Market I encourage them to look at income, crime, and school stats for the target areas they would like to focus on. Metro Atlanta is large and has many smaller sub markets that are A,B,C, and D class. It is up to the individual investor to figure out which class they would like to focus on. 

I personally look for areas with low/moderate crime and median income above $40k/year. Schools I typically like to aim for 6/10 or greater. Every investor is different though and each investor should create their own criteria.