All Forum Posts by: Michael Davis

I forgot my email: mikedawg9903 at gmail.

Vincent, I am very interested in being added to your buyers list. I am looking for SFHs in Reynoldstown, Edgewood, Cabbagetown, Kirkwood, Decatur, EAV, Grant Park, Ormewood Park, and Summerhill. I am looking for properties under 200.

I am looking for my first property to flip and this area sounds promising. Where are the comps supporting a 250 ARV?

Are there any attorneys out there who also obtained a Georgia real estate license? I looked online and it seems like law school classes in contracts and property satisfy the educational requirement but you still have to pass the exam. How much does law school prepare you for the real estate exam? Are there contracts and property questions?

Is a real estate license worth getting for flipping houses? I know J Scott advocates it in his book, but I'm not sure it is worth it. Does anyone have advice on this? My goal is to be able to invest, do real estate closings, and also be an agent. 

Thanks for the advice. I went to the bank and I can get a personal line of credit. My partners will be using home equity lines of credit. I think we might be able to put together enough so we don't have to use hard money. I guess we should get the money together and put it into an LLC and have the LLC make the purchase and sale?

Ryan Johnston I am a new investor also trying to find properties to flip in the intown areas of Reynoldstown, Edgewood, Kirkwood, Decatur, EAV, Grant Park, Cabbagetown, Ormewood, Peoplestown, and Summerhill. Please let me know if you have a mailing list I can join!

Hey! I'm new to investing but I'd love to chat. I live in Atlanta.

What's the best way to finance a first flip? I understand that hard money is relatively easy to get but has high fees that could eat into profit. Crowdfunding sites like Groundfloor seem to have lower fees but I suspect they would take longer for approval and funding. Any advice on which is best?

Well it looks like it's at 6:30! Only ones here haha.

Ebony, thanks for your extremely helpful response! I am meeting with my contractor friend tomorrow and I will have a list of questions for him to address the concerns you mentioned. I am sure I can find other contractors through my network to give quotes. You are right that I could be potentially overpaying or underpaying my friend and I won't know without other estimates. Regarding the designer, I would only expect her to help with paint colors, cabinets, counters, and simple bathroom designs. I would not try to move any plumbing in any initial flips until I have a better handle of how it works. Regarding financing, I am trying to find a way to leverage the equity in my house or my partner's house to get the money down, since I don't have cash on hand to invest. Would you recommend combining a bank loan and a hard money loan? Are there possible ways to get financing with little or no money down with great credit and two houses? Your point regarding the MLS is well taken; even the realtor I talked to told me that the best deals don't even make it onto there. Now I know that I am going to have to seek out wholesalers or do my own marketing to find deals.

Thanks for all your help!