All Forum Posts by: Matt Stambaugh

There are properties available in Atlanta still. Prices are rising and demand for investment properties is too.  I think this isn't just occurring in Atlanta though. 

Tenant pool here I think is one of the best in the country.  That shouldn't be of concern.  Try looking in areas like East Atlanta, East Point(near beltway), Decatur, Stone Mtn, Lithonia, college park.   You should find many deals.

Good luck  

I'm putting down 25%, approx 15-16k.  

Just wanted thoughts on this deal. SFH 3/2 - It's a tougher part of town, higher crime rates, median household income of $30k, 48% of homes are rentals with a high participation from the national property inv co's.

Property needs no work. Rents range from $825-$925. I'm using $875 below.   Value is approximately $75k.  Owners are not local  and don't want to deal with tenants.  Sellers are kicking in $1200 to closing as well.  I'm getting 30 yr $ at 4.5%.

Purchase Price -$61k

Gross Rental Income- $10,500

Operating Expense- $4,725(45%)

NOI - $5,775

Debt Service (P&I only) - $2,782

Cash flow - $2,993

Debt Service Coverage - 2.08

Cap rate - 9.5%

Cash on Cash - 38%

Would you do this deal?

Purchase price : $52k - ask $60k

ARV: ranges in this neighborhood - $65-$85k

Repairs: $15k

Rents: $825  - maybe $850

Loan terms of 20 yr at 5.25% - with taxes and insurance $465/mth

thanks.

looking for cash flow investment

anyone finding it difficult to get deals accepted in Atlanta. I've placed alot of offers with financing(not cash deals) with zero success. I know institutional buyers are buying a good volume here but seems that getting one deal done should be do able.

Thanks.