All Forum Posts by: N/A N/A

I agree completely. Here is GA you can have 200k houses right down the street from 500k houses and to me thats a huge difference! If you just ran comps without knowing the neighborhood you would think you had some great deals!

I also understand the grilling. I was looking at a wholesales website yesterday and their repair estimtes to me were way off based on what I saw in the pics. I could be wrong as I am new to this, but it makes me wonder what effort did they really make to give honest estimates rather then numbers that look great. What made me doubt it even more is they did not list the repairs needed. For me give me a list and some numbers. From there I can guess if your close and if its even something to look further into.
The point is if your numbers are good numbers, be able to back them up and the right investor will know.

Is once I have the property being able to sell it. Im talking about doing rehabs.
I mean I justt told my partner that we have to figure in carrying costs. But I was just talking to a mortgage broker who said an investor he knows is sitting on 9 properties because they cant get people into the house to buy them. Thats a little scarey to me.

So my question is how do I overcome this fear?
I know i need to get out and talk to people who are active investors. Because there are people still buying houses. But I just want to make sure I get a house that people want to buy!

To me thats the biggest point of sucess having something people want.
How do you know what people want??
Yes I know I am probably thinking way to much huh?

I can see why the question was posed. I think it depends on your personality. I have my partners that are willing to do the rehab because they dont have the time to look for the deals. The rehab work is what they are willing to put their efforts into.

You have to be in atlanta to understand whats going on here. I was in a subdivision the other day that has 20 houses for sale. Great price on the property but with 20 houses for sale..... makes you wonder. I say this because you will find a lot of subdivisions like this because when they were building them the same lender did the loans and people came in at the same time and people are falling out at the same time. $500 for a 3000 sq ft house???? You can get more thats for sure. But there are the HOA fees you have to consider as well. It just takes some research but there are deals out there to find.
Also prices here dont appreciate like other markets. So our market is not like others so much for the buy and hold to wait for a big jump in the appreciation. At least thats what I see. If I am wrong others chime in please.

Well it seems like you an I think a lot alike. But what I am realizing is that is a lot more to in then as someone starting out sees. If you find a property you cannot assume that other investors know about it. Advantage point number one. Then you tie up the property with a contract meaning, you are making a bid to buy the property. So the seller just cant go to another buyer as that would be breach of contract. So an investor that wants the property has to come through you. Advantage point two. Then when the investor buys it they are still getting a deal. Depending on what they are going to do with is their ROI will be higher then the couple of thousand you tacked on to the price. The investor is happy to be getting a great deal and they knwo you did some work to get that great deal. Advantage point number three. Investors who are rehabbers or have mutiple properties is in the game and they dont always have the time to find the great deals. They are thankful for you finding them and possibly finding more. Its a win win situation for everyone. The goal is to be the go to person for the deals and youll be in partnership with other investors. At least thats what I am learning. Hope that helps.

But I do have a question, what if the seller wants to break the contract to sell to another investor who is offering a couple of grand above your offer??

I think its not only finding the good deals but finding the deals if that makes sense. I have heard that investors dont have enough eyes and ears and they too can miss good deals. I mean I just had a friend who is doing her first rehab and she came across another property. She is in no position to take the deal but i am sure there is someone else who would. She found out about it because a friend of hers is in preforeclosure. That deal is not out there yet. Hey I was going to try to help her wholesale it and get a cut since she didnt even know about wholesaleing until I told her! I think there are more deals then investors but starting out you dont feel like that thats why you have to get out there to see.

yes thats the best thing to do.

I know how you feel. What I have try to do is analyze my situationa dn go from there. For example since i have no credit or money I am looking to start in wholesaling. With that I know what I need to look for when I come here. It is a lot of information but I am just happy to know its here. Narrow down your options and that should help!! Good luck!!

Great great great post!!!!!!!
I always heard getting the first deal out the way is the hard part.
my biggest holdback is fear. But I dont have too much to lose at this point so I need to just do it! I know what I am doing this weekend!
Thanks for the great post!

Hey guys, I was hoping people who invest in Gerogia in or around Atlanta can give their general experiences. I know there is a lot of money to be made in real estate but can it be done in Ga?
One of my concerns is the new contruction that is everywhere. Why by a resale when you can get a brand new house. So that has me thinking in terms of moving the property quickly.
What else concern is appreciation. Its is pretty stable in GA or so thats what it seems to be. How does that effect getting a property below market value.
Im just looking to hear how others are making out! Thanks!!!