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All Forum Posts by: Matt Ward

Matt Ward has started 16 posts and replied 42 times.

Post: Need Atlanta Real Estate Attorney

Matt WardPosted
  • Peachtree City, GA
  • Posts 44
  • Votes 5

@Abhi Golhar thanks

Post: Looking For Agents South of Atlanta, GA

Matt WardPosted
  • Peachtree City, GA
  • Posts 44
  • Votes 5

Looking for investor friendly agents in Georgia cities: Atlanta, McDonough, Fayetteville, Newnan, Peachtree City, Griffin, and Palmetto. Looking at some properties in the area and wanted to get some insight.

Thanks,

Matt

Post: Investment Property Manager/Firm

Matt WardPosted
  • Peachtree City, GA
  • Posts 44
  • Votes 5

Thanks @Marcus Auerbach, really appreciate the guidance

Post: 1st Deal Help - South Atlanta Numbers

Matt WardPosted
  • Peachtree City, GA
  • Posts 44
  • Votes 5
Originally posted by @Mike O'Connor:

All of those Cap rates look good but there is much more to it than just the rent and purchase price to make sure your Cap rates and cash flow are correct.

Thanks for getting back to me. Understood.

- Will you be managing these yourself? If not, what is the managers %.

Factored in 6% of yearly rent for managers

- What % of income did you allocate towards expenses?

I put between 800-1500 in maintenance and repairs, $150 in ads in case we lose tenants and 1000-1500 in utilities.

- What would the taxes and insurance be for the property?

Factored taxes in too. For these I took the numbers that listing sites like realtor.com and zillow gave me as property estimates (at least I think they were estimates). Taxes ranged from 450-1400 and insurance from 300-800 annually.

- What is the condition of the property? Does it need a new roof, plumbing, HVAC, etc? Those factors could quickly increase your acquisition costs.

This is part of my question. I wanted not to say this is a good deal, but that my initial calculations sounded good and they were worth pursuing more to find more information like this.

Thoughts?

Post: ​Credit/Real Estate Question with No Previous Credit

Matt WardPosted
  • Peachtree City, GA
  • Posts 44
  • Votes 5

Thanks mate and no worries, I will figure it out. With a big enough down payment will a bank just say F it and give me a loan?

Post: 1st Deal Help - South Atlanta Numbers

Matt WardPosted
  • Peachtree City, GA
  • Posts 44
  • Votes 5

Hi,

Been trying to learn as much as I can and run numbers and wanted help of some folks with local experience. Have been looking in Fayette, Coweta, Henry and Fulton counties and have found a couple deals that to me seemed good. Wanted to get some second opinions as I'm pretty new. Thanks.

All of these are based off my numbers and seller reported numbers. Can you say from looking at these if they are good, if my values are way off or what thoughts would be? Would really appreciate help.

Deal 1:

Purchase Price: ~90k

# Units: 2

Rent: 1300

Cap Rate: 11.40%

1 Year Cash ROI: 16.61%

1 Year Net Cash Flow: 3734

Deal 2:

Purchase Price: ~175k

# Units: 3

Rent: 2400

Cap Rate: 12.82%

1 Year Cash ROI: 24%

1 Year Net Cash Flow: 10198

Deal 3:

Purchase Price: ~80k

# Units: 2

Rent: 1160

Cap Rate: 11.92%

1 Year Cash ROI: 18.15%

1 Year Net Cash Flow: 3534

Deal 4:

Purchase Price: ~120k

# Units: 2

Rent: 1450

Cap Rate: 10.21%

1 Year Cash ROI: 12.63%

1 Year Net Cash Flow: 3612

Deal 5:

Purchase Price: ~83k

# Units: 2

Rent: 1300

Cap Rate: 11.21%

1 Year Cash ROI: 15.68%

1 Year Net Cash Flow: 3328

Deal 6:

Purchase Price: ~100k

# Units: 2

Rent: 1600

Cap Rate: 12.37%

1 Year Cash ROI: 20.82%

1 Year Net Cash Flow: 5154

Thanks,

Matt

Post: Investment Property Manager/Firm

Matt WardPosted
  • Peachtree City, GA
  • Posts 44
  • Votes 5

Hi all,

Starting to get into the real estate investing world and want to deploy cash from existing ecommerce business into more long term, sustainable asset. Have no experience with real estate and no desire to manage own properties. Also living out of country.

Recommendations and advice on hiring a team vs investment agency to help deal with everything from day to day maintenance to doing deals and purchases? Also what is cost for someone to run the investment side of things? Any experience/advice would be really appreciated.

Cheers,

Mat

Post: ​Credit/Real Estate Question with No Previous Credit

Matt WardPosted
  • Peachtree City, GA
  • Posts 44
  • Votes 5

@steve 

@Steve Vaughan no, won't be house hacking.

Is the Churchill mortgage only for UK properties?

Understood on larger multi-families. Where would that fall then?

Post: ​Credit/Real Estate Question with No Previous Credit

Matt WardPosted
  • Peachtree City, GA
  • Posts 44
  • Votes 5

Credit/Real Estate Question

I have no credit and want to invest in real estate. I paid for college on my own without a loan and didn't buy a car or have a credit card. Now business is going well and looking to progress to real estate and in a pickle...how?

Would love advice. Goal was buying multi-family properties and with 30 yr fixed loans and I could start investing a good deal of business profits (or sale profits) into buy and hold, cashflowing real estate.

But how the hell could I get a loan. They won't give me a credit card. I have a secured credit card now just to pseudo build up credit but come on...thoughts?

Post: Why hello there...

Matt WardPosted
  • Peachtree City, GA
  • Posts 44
  • Votes 5

That is very helpful on the LLC/S Corp front. So opening an LLC under my existing S Corp may be best bet.

Where would you recommend to look to find seller financed deals for multi-family properties. Struggling with searches and sites. 

Also what services does your company provide?