All Forum Posts by: Pragati Soni

Anyone have any good title insurance recommendations in the Atlanta area? I am looking for an affordable title insurance company. I am in the process of purchasing my first property. Any recommendations will be helpful! Thanks!

Originally posted by @Aaron K.:

@Pragati Soni if that is all there is, you might ask for the damage to be repaired but do the "grading" yourself, especially if you plan to ask for the HVAC, hopefully it'll just be a tune up and not a full replacement.  Grading is important but it is really minor, there is nothing really wrong with the house because of grading unless it is so egregious that it can't practically be fixed.

Thank you! I appreciate your input. You have been super helpful!

Originally posted by @Aaron K.:

@Pragati Soni to be frank there don't seem to be many issues, a water heater that is old but still functional is not something most sellers will fix, same with the HVAC, now if it is way below on temperature splits, maybe but a degree or two because the inspector has to write something, not a huge deal.  Now the leak, absolutely ask for that to be fixed, likely something the seller didn't know about and an understandable ask.  Most of the time inspectors give you a laundry list of things because they have to "show their worth"  Most things have been that way for years and are still functional.

Thank you for your answer Aaron. It helps to hear another perspective. For the HVAC, the temperature split is 5 degree below on temperature splits so will prob ask for that. I originally offered close to full price on the property. The other thing that was mentioned is that there was some water that has come through due to heavy rain through the back door. You can see the bottom of the back door showing the damage. I was advise to have the yard graded to fix the slope. 

I am purchasing my first primary residence property and I got an inspection completed today. Knowing what I know now, I definitely would like to renegotiate. There are some issues such as a leak and an older HVAC that isn't working up to optimal efficiency. There is also an older water heater. Other issues are minor and fixable. This might be a stupid question but how do you guys go about negotiating after an inspection is complete? Are you more aggressive at this point? I know at the end of the day it's the seller's call and that's why there is an inspection contingency in place but I wanted to get other opinions as this is the first time I am going through this process. The home is not that old. It's 13 years old. Any insight will be helpful. Thanks!

Originally posted by @Sam Bagwell:

Forsyth County (where Cumming is located) does not permit short-term rental.  The County has purchased software to crawl sites like AirBNB and VRBO, and issues citations for any activity found.  If you're looking for Lake Lanier short-term rental, go to Hall County, which authorizes short term on all residential properties, if certain conditions are met.  Aside from that, Forsyth County has a population desperately seeking affordable rentals, but prices are so high, that cash-flowing as an investor is difficult without significant money down.

Thanks for the information Sam. What do you think of the overall Cumming, Ga market not including short term rentals specifically exit 14 on GA 400? 

@Twana Rasoul  I agree with your perspective and I myself have struggled to find a good mentor. I found someone who I thought could be a mentor by offering to help manage his properties in exchange for guidance. It didn't work out. He wanted to take out a couple of loans under my name for new purchases. He didn't want to sign a contract. In the end, it was quite shady so I removed myself from that situation and continued to do my own research and learn via biggerpockets. 

I am a newbie and I don't currently have properties but having lived in college town for 4 years I know that the pros outweigh the cons. Many people are hesitant to invest in college towns due to high maintenance costs but there are just so many pros such as:

1) Rent payments on time - Parents usually cosign on the lease and students usually have loan money to cover cost for apartment even if they can't pay out of pocket.

2) College students don't complain much - I knew some people that literally lived in a crooked house for 3 years and each paid $300 in rent for a total of $900 for the owner. This house was pretty rundown and could not have been rented out otherwise.

3) Even though there is high turnover, the demand is super high so you are almost guaranteed tenants without little to no marketing. Ex: My brother lived in an apartment and decided to transfer out. He posted on his facebook college group that he was looking for someone to sublease his place for the remaining 6 months. Within 5 days, he had 6 people ready to take over the lease. Demand is very high and supply is usually low because colleges accept more and more students each year but housing options usually remain the same. 

I am currently saving up to purchase primary property as well as invest in my college town. I think there is so much potential. 

I watched my parents struggle daily after coming to the states from India. I remember the feeling of scarcity every day while growing up but they were able to provide the basic necessities that my brother and I needed. I was able to go to college, pay off my debt, and now I am saving for my first investor property as well as studying for the real estate exam.  

Originally posted by @Jeff Brower:

@Pragati Soni I was not looking for any motivating factors or potential foreclosures. I was simply mailing to all of the good duplexes I could find that I would be willing to live in. 

That's awesome that you were able to get responses without seeking motivating factors. Great job and thanks again for sharing!  

@Jeff Brower Thank you for sharing your story on your process of buying your first duplex. I am also currently studying for my real estate license and looking to house hack.

My question to you is: How were you able to use the county auditor's website to look for the list of properties you were interested it. I tried doing that for the county I am interested in and I am able to pull properties by entering zipcodes. However, I am not able to get any tax information or other information that would scream that they are motivated to sell. Specifically, I am looking for properties that could potentially go for foreclosure but I am not able to identify those. Is there anything specific you did on your county's website?  Thanks again for sharing!