All Forum Posts by: Maverick V.

Welcome Matthew! I just relocated to the San Antonio area and am also just starting off in investing. Are you focusing on buy and holds or looking to fix and flip? I am also in the processes of looking for my first deal. If you want to go over any ideas or discuss options let me know!

Hello BP, I'm considering a move to Atlanta soon and I was wondering how the fix and flip market is. From all the posts i've read on here It sounds like it is very competitive, it's a sellers market, people are feeling the squeeze from institutional investors, prices have gotten to the point where rentals in some areas are hard to cash flow, but I haven't been able to find anything on flips. Also are the suburbs excluded when talking about Atlanta? Because after a quick search of surrounding areas it seemed like there were plenty of deals. While researching an area I was considering (stockbridge) I noticed The number of active foreclosures was well over 100% higher than the national average, other areas nearby were even higher. Am I missing something here? Are some of these suburbs "war zones"? Seems like there are many sub 50k properties around that seem very nice. Any insight from people familiar with the area would be greatly appreciated.

@David Thomas <not sure if thats How this works but I hope so! Thanks for your reply david. I absolutly would perfer alternative financing, and that is how I would finance flip deals. The problem is financig my primary residence for the move to a new location, I have considered hard money for this, but id need to find a smoking good deal to not have to put up a significant ammount of cash. The only hard money lender that I have found that will finance owner-ocupants is in austin tx. They would fund 70% arv I would need to pay 4 points, origination fee, closing cost and 1 year of Insurance up front. they do a 1 year term and I would need 6 mo. to refi into a traditional loan, then I would have to pay origination fees all over again with the traditional lender. I deffinatly see how the hard money would be a great tool for a flip but it geths rather expensive for a hold and refi. Unfortunately I have no friends that would buy me a house, and cannot think of a way to structure the purchase of my primary residence that would benefit an investor, or private lender other than if I could find owner financing, which is deffinatly an option if I could find it.

Thank you for your thoughts.

hey Henry, thanks for your reply. Id love to go that rout, unfortunetly we have far to much stuff that we wouldn't be willing to give up to live the RV life. But I hope everything goes well for you.

I understand the trade off and i dont need a great area, just an area that is safe. the initial property that I buy I need to live in, I wanted to find something that I could buy and renovate, or get a good enough deal on initially so I could refi and pull out the initial cash invested, which I would then use to flip other properties. So to answer your question I would be flipping initially, and buy and hold later on.

Hello all on BP! First off I know this question has so many variables and there is no correct answer but id like to hear your opinions and welcome all feedback.

A little about myself, I'm leaving the military next month and have been trying to find the right place to relocate to. I am from North Dakota originally and have spent the last 5 years in Southern California. My plan is to Wholesale and flip in order to fund rental property acquisition. I don't want to go back to ND, i just don't see that the market would support what i am trying to do, and the California market is to expensive and competitive for me starting out. I have no ties to any specific location. I can no longer qualify for traditional financing to purchase a property to move to , so id like to find a house for under 40k in a decent area that we could pay cash for and use as a rental in the future, or live in for an extended period. Id like to stay where its a bit warmer (than ND) but that's about it.

My first plan was to go to Jackson ms, the amount of extremely cheap houses was enticing and I was strongly considering this for quite some time, I talked to 3 separate Realtors that were of no help as far as getting neighborhood information. So I did as much research as i could online and found that all the cheap properties were in pretty rough neighborhoods and the local economy did not seem to support flipping in any significant volume.

I then looked into Memphis TN, again all properties under 40k were in rough neighborhoods.

I'm now leaning towards San Antonio, Austin, Dallas, or Houston

The only problem with them is finding a house under 40k for us to live in, I did find a few Manufactured homes in the country close to Dallas and some a little over a hour north of Houston, I would be fine living in one of the manufactured homes close to Dallas for quite some time, my only issue is tying up most of my free cash in a house that i cannot refi to free up the cash again.

Thanks for taking the time to read my rather long post and i look forward to hearing your suggestions!