All Forum Posts by: Michael Bracewell

Good morning everyone,

I have a property in the Milledgeville, Ga that would be a value add to my portfolio and I am looking at making two offers. The first, would be a lower cash offer which would be fairly straight forward, but the other would be a higher offer with the property owner having the chance to earn interest over a fifteen year time frame. 

My question is, how should I go about structuring this deal as a proposal to the homeowner? Obviously, I personally would prefer this option as a way to keep my upfront cost out of pocket to a minimum even if it means paying more over time because the property would still cash flow $100.00 a month with the current rates. 

If you were in my position, how would you get started? Is seller financing a good way to approach this or should I look for alternative ways to approach this deal. Thank you for any advice and for taking time out of your day to help!

Good afternoon everyone, 

I am a new real estate investor in the Milledgeville, Ga area with one single family residence in my portfolio while also owning my separate primary residence. My rental property was initially bought free and clear, but in July of this year I refinanced to pay off my primary residence because of the appreciation value that my home had basically equaled what I invested in my first property. I am wondering going forward, should I look at maybe refinancing my primary residence in order to add to my rental property portfolio or if I should save enough for a 20% down payment before purchasing my next property? 

Obviously, I have read and studied the mixed opinions on paying off each property or leveraging your equity to grow your monthly cash flow, and I definitely see advantages too both strategies. If you were in my shoes what would you do in this situation? 

Thank you for your time!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $60,000
Cash invested: $60,000

Single family 3 bed/ 1 bath home renting for $750.00 a month
This property cash flows decently with a mortgage or without. I initially invested $60,00 to pay cash, but have since refinanced in order to work on acquiring more property. I am located in the Milledgeville, Ga area.

What made you interested in investing in this type of deal?

I have always been interested in the idea of investing in real estate to create long term wealth and provide financial freedom for my family. Honestly, I did not have a clue what I was doing when I purchased this first home because I had been talking with some professionals in my area but I did not start reading and studying until January of 2021 when I found bigger pockets. The biggest takeaway from this deal is that I screened my tenants well and made a move to get in the game.

How did you find this deal and how did you negotiate it?

A local real estate agent I work with who is also one of my customers in my pest control business brought me the deal after I asked to go look at a different property.