All Forum Posts by: Matt Martin

Previously Marietta was over saturated with rentals, which is why they have been trying to change the tide to owner occupants, but there are still plenty of rentals. 

Are you out of state or local? Self managing or using a property manager? Price and timing depend on a lot of factors. It would be best to speak with a property manager to get a rental analysis. You can check out a zillow calculator.

Thanks for following up and sharing with me. Good luck! 

Don't cheap out on this. You don't want a problem to arise after you've passed. Each county is different when it comes to probate, and the laws are changing all the time.  Brian Douglas has a lot of great advice about asset protection and taking care of children through estates. You don't want everything to pass to them when they turn 18, however, you do want them to be able to access funds for education or professional use. He can help you plan your estate and structure a trust so that you and your loved ones are protected. Check him out. 

I'm not sure I understand your question. What kind of investing do you want to do (single family, multifamily, rental, flip)? 30064 is not East Cobb, it's in an area called Fair Oaks, which is split between Marietta and Smyrna. It is definitely a lower to moderate income area, but it is quickly changing. A lot of new commerical developments and urban infill are going in. But there are also a lot of run down rentals. Housing stock is much older. I think it works for a great buy and hold rental situation, but it is probably a class C neighborhood and you will need to put a lot of money to rehab a 1950's property to get it rent ready. I think in 10 years, the whole area will look very different. 

You've gotten a lot of good feedback. I have talked to a few investors who have done this with their retirement funds. It can be a great investment. In some cases, the house came back to them. Here is what I gleaned from them. 

It's for a buyer who can't qualify for a traditional mortgage. So your risk will be inline with or slightly higher than typical interest rates. They recommended, $5k or $10k down with a 7-8% interest rate with a 5 year balloon. That way, they have 5 years to improve their credit to qualify for a loan and then refinance. That way you get your money back sooner. In some cases, the buyer gave the house back because they were moving and still couldn't qualify for another loan. You do risk foreclosing on the buyer. A good Real Estate attorney can draw up a document very easily. Good luck! 

Welcome, Anderson. I attend the monthly meeting for the Atlanta REIA. The website is a little dated but they always have good speakers and a decent crowd. I host a vendor table. I'd love to connect in person. I also attend the Atlanta Landlord Luncheon as well. 

Welcome, Emily. What are your top questions or areas you want to learn about? 

Also, I handle a lot of probate deals. Let me know if you have questions.  

Andrew Gurvey is an investor focused closing attorney. He can handle any type of deal you bring. He is also a great guy and purchases land for Atlanta Habitat for Humanity.  https://gurveylaw.com/

For inspections, check out Bob McDonough at National Property Inspections https://npiweb.com/bmcd/About-Us

Please let them know I referred you! 

I'm glad you are asking questions on the front end. I just did an analysis for an investor who purchased a SFH conversion to a Duplex without any due diligence. He rented out both units, but when the bottom tenants complained about an issue with code enforcement, the city shut him down for zoning and property use compliance. He lost a bunch of money because he overpaid for a duplex but can now only rent it as a single family. When I inspected the property it looked like a death trap due to code violations. Please check for proper permitting with the city and ensure it is up to code. That is much cheaper than a potential lawsuit or fines.

I second the Separate Metering of Utilities. Including a flat fee for utilities on top of rent will make the rent look higher and less attractive to potential residents and potentially cost you money if there is a toilet running or water wasting. Splitting the bill and charging it back to tenants can also create disputes between tenants if one likes to wash their car every weekend but the other has to share the costs.