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All Forum Posts by: Nathan Melanson

Nathan Melanson has started 3 posts and replied 6 times.

Post: Lawyers in Atlanta that works with unique title issues

Nathan Melanson
Pro Member
Posted
  • Atlanta, GA
  • Posts 8
  • Votes 4

Halperin Lyman, LLC. They specialize in closing for real estate investors. Really good for double closing. http://www.halperinlyman.com/

I also use Weissman Law. They are a sizable firm, so have the resources for the more complicated cases. http://weissman.law

Post: I have a free ticket to Mr. Tycoon's seminar in Atlanta tomorrow

Nathan Melanson
Pro Member
Posted
  • Atlanta, GA
  • Posts 8
  • Votes 4

I go to the Atlanta REIA meetings often. Last Monday was their main meeting. They had a guru there talking about buying notes. Sure, the 1 hour talk was a mostly a sales pitch how buying notes is the best thing ever, and she did have a one day course, a book/cd course, and an 4 day retreat/conference also available. But, while there I ran into my next door neighbor who has a 22 unit rental portfolio who lost his day job back in January, and joined the Property Protege Group (a group coaching program to learn about flipping properties), and now has 4 active flips going on. We talked about possibly partnering on a future deal.

Last night, I went to one of their sub group meetings (south & multi-family investing group), and there is a long time investor talking about different deal structures. Very basic high level stuff. There was a meeting fee, but it included a catered dinner that was very good. And near the end, a state congressman had heard about the meeting, and decided to check it out. Afterwards he asked our opinion on how investor loans played a part of the 2008 financial collapse, and what are the risks of another collapse. So, there was a lively discussion afterwards. 

I have taken a 2 day "Wealthy Code" course that was advertised last year at another Atlanta REIA meeting. Sure, that 2 day was a low cost course, and there was a pitch for even more training. But at lunch during the course, I talked to another person there that invested in hotels, so we had a interesting discussion on that, and how she took another guru's $10K hotel investing course, and if she thought it was worth it or not.

So, is it a good place to meet people and learn from, absolutely! But, it is usually not the people in the front of the room that you are learning from, but from the people in the audience.

Post: How would you improve payments and/or credit card usage?

Nathan Melanson
Pro Member
Posted
  • Atlanta, GA
  • Posts 8
  • Votes 4

This weekend, I'm participating in a FinTech hackathon at ATDC (startup incubator at Georgia Tech) [http://atdc.org/atdc-news/advanced-technology-deve...

The idea is a group of software developers work through the weekend, to come up with a new product. The event is sponsored by payment processors (ACH, credit cards, debit cards, gift cards), and they are looking for new ways these services can be used.

For example, by working with the credit card transaction processors, we can do things like have budgets setup by category, and have transactions rejected if they go over that budget. 

My question to you would be, what do you wish your credit card (or debit or gift card) could do to make your life easier?

Post: There are 100 days left in 2016. What are your remaining goals?

Nathan Melanson
Pro Member
Posted
  • Atlanta, GA
  • Posts 8
  • Votes 4

Looking at my calendar this morning, and I noticed that there are exactly 100 days left in 2016. Since that is a nice round number, I spent some time this morning, evaluating my goals for the rest of the year. So, my question to you all, what are your goals for the remainder of the year?

Mine are:

1) I am closing today on my first rental property. I plan on getting it closed, complete minor repairs, get it rented, and then refinance it.

2) I would like to purchase a vacation rental. Identify area and criteria, and make offers on at least 10 different properties (or until I purchase one).

3) Get back in the habit of going to the gym at least 4 days a week, and adjust diet to loose 10 lbs.

4) I have written some cool software to help evaluate deals, and I think other investors may find it useful. Create a website to expose these tools, into a minimally viable product, to the public.

Post: Properties For Sale Are NOT Comps

Nathan Melanson
Pro Member
Posted
  • Atlanta, GA
  • Posts 8
  • Votes 4

I had an appraisal done 2 weeks ago on a property I am buying, and the appraiser did use an active listing as one of the comps. Technically, an appraiser can use an active or pending listing, as long as three of the other comps are sold, and there is nothing else to use. (i.e they are comps of last resort). 

And when an active or pending listing is used, there additional adjustments that are made to account for days on market,  average sale to list price ratio, average seller paid closing costs, etc. 

Post: And the fortune cookie says...

Nathan Melanson
Pro Member
Posted
  • Atlanta, GA
  • Posts 8
  • Votes 4

Hello All. 

About a year ago, I started looking for a new primary residence, and a duplex was one of the options my realtor showed me. I liked the idea of living in one unit, and renting out the other. I did not know much about real estate investing, so I started learning all I could, including reading all I could on BiggerPockets, and joining the Atlanta REIA.

Fast forward a year, to the present, I have yet to do my first deal, although I have put in a few offers. Today at lunch, I found this message in my fortune cookie: "You will do better in real estate than in stocks." I guess it is time for me to get off my *** and get it done. Because fortune cookies are never wrong. :)

Do you have stories of "fate" telling you real estate investing is the way to go?