All Forum Posts by: Matthew Nicklin

Welcome Evan! I am not far from you, just over in Woodstock. I own 9 Single Family rentals and a Real Estate Brokerage that does Sales and Property Management. if I can help you in any way feel free to let me know. 

Yep WolfStreet had a great article talking about this months ago. Atlanta has the most delinquent FHA loans by number of loans but not overall percentage. This does include people that are currently in a forbearance plan. The original data is from the Black Knight Mortgage monitor report. If you are interested in tracking this you should check out the monthly Black Knight Mortgage monitor report(As of writing this December 2020 is the latest report out, January 2021 has not posted yet).

If you look at the December 2020 report the national delinquency rate has dropped and is trending down. It will be interesting to see how this plays out long term. With the Biden Administration talking about extending the eviction/foreclosure moratorium to September 2021 things could get interesting. This eviction/foreclosure moratorium has put a ton of pressure on supply, we have a huge inventory shortage in Atlanta right now.  

The current report has a great chart showing current # of mortgages in forbearance plan by mortgage type.

As you can see overall FHA/VA buyers have the most in forbearance plans. Most of these forbearance plans expire Q2 or Q3 of 2021 so we will see how this shakes out.

Welcome @Lee Rensch

What have you invested in? SFR, Multi, Commercial? What are you looking to invest in next?

Welcome! Where is your current rental? What are you goals for acquiring future rentals? 

One of the best real estate meetup groups in Atlanta. I have personally met many top performers in this group. Agents, wholesalers, lenders, contractors, the list is endless. Certainly worth joining the Facebook group just for the network.

Welcome to Woodstock! I wouldn't be asking where you can flip for the lowest price, but where can you flip for the biggest margin. You need to go where ever you can find a deal with a margin that makes sense. 

Were in a really tight market right now, due to low inventory. With the foreclosure moratorium we are not seeing a lot of distressed properties right now as sellers are not as motivated. If they can't pay the mortgage then they are just entering forbearance plans. You can still find deals, you just to have look a lot harder. 

Todd plenty of great areas. Are you self managing or intend to use a property manager? If your self managing I would recommend staying about 45min-1 hour of where you live. I typically stick to class B areas for the best cash flow and lowest headaches. I own rentals in Marietta, Kennesaw, Woodstock, Powder Springs etc. 

Not sure why this is a loaded question. I think the OP was just asking for a general range. Your range of $100-$150 is what I have heard others mention. Material costs are still higher than average right now, lumber is not as high as it was but still elevated. Of course finishes and material type will influence the price a lot. 

I have helped many clients and friends with house hacks. Actually just helped a good friend purchase his 3rd house hack property. With anything Real Estate related location matters. It has to be in a desirable area where renting by the room is common, typically younger single people but you can also go to areas with more families if done properly. 

I helped a client last year buy a property in the suburbs.The basement was already plumbed for a sink so he just installed a stove and finished it out to make it an in-law suite. He moved into the basement and then rented out the whole top half of the house for $1,500 a month which covered his mortgage. 

Rent pricing is going to vary based on how you do it. Typically you can yield a higher rent if you rent by the room but you do have to factor in paying for utilities etc. 

@Curt Smith I agree with you for the most part. SFRs are very different from apartments, especially 1 Bedroom apartments. Overall rents are up in most Suburbs areas, SFRs or apartments. 

I put escalation clauses in all of my leases that the rent increases 5% annually. Some of my units are below market as the market has exceed 5% in some cases. I am ok with this though as I would prefer longer term tenants and keep turn costs to a minimum. 

I also agree some areas can be difficult to find good quality tenants. That is why I try to invest in solid B class areas, if you venture into other areas your prospective tenant pool can be large but you may have lower credit/income tenants to choose from.