All Forum Posts by: Paul Montaperto

Looking for an investor with deep pockets! 6-figure return / Double-digit ROI. Property purchase w/ HOME HACK. For more information, call/text Paul @ 470-269-3127.

Looking for an investor partner to purchase my next primary residence in early 2025 - an opportunity that will yield a 6-figure return with minimal effort. The real estate is the collateral! Contact me to learn more.

Eli,

@Eli Rose ..I came across your post here from a few months ago about your interest in investing in the North Cobb, Cherokee areas. I currently live in Forsyth County but will most likely be relocating to the West Cobb area in the next year or so for work. I am a licensed agent and eager investor always looking for good contacts. I'm curious how your search is going with connecting with local investors in that area?

Look forward to hearing from you.

Paul

Hello BP!  I'm looking for some input....I am in negotiations with a potential buyer interested in purchasing one of my investment properties.  We have discussed seller financing and are close to agreeing on terms.  However, after speaking with RE attorney this afternoon, I am wondering if it is still a wise option.  The SAFE Act and "due on sale clause" have me rattled.

Obviously, this is my first seller financing rodeo....anyone out there had any recent experience with wraps in Georgia?  As the seller am I taking on too much risk?

Thanks for all the great thoughts and ideas BP!! 

Paul

Thanks Andrew.  Can you send me some info as to where and when and any other info you think a newbie would need to know.  I'd love to come check it out sometime.

Thanks.

Paul

Thanks @AC Cooley.  You are right that it is real easy to get overwhelmed when trying to find your way.  With every new blog, meeting, email, etc there is yet another "way" of doing this business.  Finding a niche area of interest is great advice.  Thanks again.

Hello all....I am wondering how the experienced investors out there weigh in on joining local REIA organizations. I have attended a few meetings at both Atlanta REIA and Georgia REIA. Some were worth the time, while other meetings were not. Any guidance from local Atlanta investors out there where a beginning investor will get best acquainted with quality networking and connections and increased education and resources to help get a real estate investing business off the ground? Thanks!

@James Park

Fantastic assessment of the Forsyth County area. I too find it to be quite interesting to read about the comparison to Orange County, CA that you have detailed. There is definitely something there. As residents of South Forsyth County for the past 9 years, my wife and I have observed many of the same phenomenons that you and others have described with both demographic changes and school performance in previous posts. We also pay close attention to the trends in the school systems and strongly feel that, as of right now, today, there is no better place for us to make a 10-15 year committment for our children to get a quality education in the public sector. When the CCRPI (new model for measuring school achievement) was revealed in the spring of 2012, Lambert High School was the #1 traditional public school on the list and #5 overall. http://www.ajc.com/news/news/best-worst-metro-ccrpi-scores-2012/nXjHT/. Very soon after that housing inventory in the Lambert school district became very hard to come by. People have shared stories of individuals literally knocking on their door and asking them to buy their house. Over the last several months, houses in the Lambert school district are selling in a couple of hours of hitting the market and at inflated prices. Another bubble approaching?

John's Creek Elementary School, located in the very southeastern corner of the county, has increased 20% in Asian population in just five years and is projected to eclipse 50% in the upcoming school year. http://r4dashboard.forsyth.k12.ga.us/. We have observed this demographic change all the way up the "141 Corridor" (Peachtree Pkwy) and is now spilling over to the west side of Hwy 400, which is quickly losing its grasp on the pasture filled horse country that has attracted long time residents for years as a result of continual changes in zoning laws that benefit developers for new houses that are flying off the shelves.

Thanks again James for the well thought out data analysis of the north Atlanta market. As new real estate entrepreneurs, my wife and I are very interested in the North Fulton, Forsyth and North Gwinnett areas. Please keep sharing!

Paul

Awesome! HUGE thanks to @ David Edgerton for the advice!! The BP podcast 70 was perfect......it was easy to listen to, entertaining and incredibly informative. Anyone looking for a better grasp on subject 2 and/or owner financing, it is well worth the 80 or so minutes of your time.

Hey Biggerpockets gang! Great to have the opportunity to reach out on such a knowledgable platform for learning. I have been lurking for the past few months and now finally "jumping in" as @Joshua Dorkin put it, fittingly.

My wife and I are excited to be exploring opportunities in the REI business. We have spent the last six months doing a lot of research, reading books, lurking on websites, attending seminars, and networking in our area through people we know connected to real estate as well as attempting to connect with various REIA venues. The wealth of information out there is daunting and rather overwhelming, so we have chosen to focus our efforts in the wholesale arena to get started - makes the most sense for us at this time.

With that said, we have found a motivated seller and are exploring options. I have been told that the numbers in the deal point to a 'subject to' transaction. The balance on the note is about 85% of the ARV based on current comps. While I have tapped into many forums to find out exactly how to structure a subject to deal from beginning to end, I am still uncertain of all the details. Here are my questions (there are probably others I should be asking as well, but its a starting point).....

1. What does the purchase agreement NEED to say?

2. What paperwork is necessary and are there specific time frames in the deal where it must be completed?

3. How do I deal with the lender (JP Morgan and Chase)?

4. Can the property then be sold on the open market or are there restrictions?

5. I have been told lease options are hot in my farm area right now. What are some examples of what that might look like once we acquire the property?

I know it's a lot of "it depends on the situation" type questions, but any guidance or clarity provided will be greatly appreciated. Thanks to all of you for consistently sharing your thoughts and ideas.

Paul