All Forum Posts by: Nadav Akselrad

Thank you all for your replies, this helps! If anyone has a good insurance agent to recommend , let me know .

Thanks!

Nadav 

Hi all, 

So I have a feeling that I am paying way to much for insurance (I am a Newbie) , I have three SFR's in the Atlanta , Georgia area and paying an average of 1000 dollars annually for each (Landlord policy , covering Replacement cost , 2500 deductible).

Am I paying too much ? Can you give me an estimate of what you would be paying for a 2bd 2.5 Bath 1200 Sq ft townhouse ?

Recommendations for insurance agents will be appreciated!

Thanks y`all!

Hi, 

I am under contract on two properties. Both are SFR townhouses in the Atlanta area.

Here is my situation:

I am approved to take two conventional mortgages (20% down payment on each which equals to 25K including closing costs for each deal)

I have 25 K available for a down payment for the first house - All clear!.

I will have an additional 25K coming in a week after closing of the second house (coming in a week too late).

How can I bridge this gap ? 

According to my loan officer, I cant use a gift to buy an investment property , nor can I use a loan for the down payment on an investment property, even if I am expected to pay back the loan a week or two after closing.

How would you finance the second deal? 

Thanks!

Agree 100% with all the CAPEX remarks, I just think I will have a better grasp on these after the inspection is done .

Also agree that these CAPEX estimates may turn this deal from a good one on paper to a bad one that I should stay away from... This is what due diligence is for , right ?

Thank You all for your replies, I am planning on self managing this property, no fixes needed according to seller disclosures, but we'll see about that after my inspector visits the property! 
I am not pretending to be an expert on inspections by any means...
I do have 1700 dollars in seller contribution at closing...(Cant be more than 2%...)

Attached via Image:

Need your help on analyzing a deal . I am a buy and hold investor , dealing with SFR's in the Atlanta area.

I am going under contract for a property in Smyrna , GA, Zip code 30080 . 

Here is the short story (The long one can be found below in the link to the complete deal analysis).

Property Price : 93K 
Monthly costs are around 550$ (30 year mortgage+ Tax+Insurance) 
Estimated Rent : 1050 
Down Payment: 20% (18,600+ Closing costs , minus 1500 seller contribution)

Complete report can be found below , added fixes and vacancy costs to the report. 

https://www.biggerpockets.com/buy_and_hold_results...

As a buy and hold investor , would you go for this deal ? To me it looks solid, but I want to get some more opinions. 

One more detail: I am buying this house for its full retail price, the price being paid is what its worth on the market.

Thanks!

I agree, Fulton is great for rentals , Dekalb is pretty good too, I have one SFR in each county and both were super easy to rent...

Hi Assaf 

I just bought a single family in Tucker , my impression is that this is a good city to have a rental property in , send me a PM if you would like to discuss further.

Nadav 

I believe you will be able to search for the info here , you will need to pay for it though..

I am not affiliated to this site in any way...

http://www.realtytrac.com/mapsearch/pre-foreclosur...

Good Luck