All Forum Posts by: Ryan Copeland

Do you do LTR or STR there?

 Are you still a realtor in Marietta? I'm looking for an investor friendly agent.

Great deal!! I'd love to see the listing on Airbnb.

Investment Info:

Townhouse buy & hold investment in Atlanta.

Purchase price: $162,500
Cash invested: $56,000

On Friday March 18, 2022, I closed on investment property #3 🏠. Earlier in the week, on Monday March 14 my son was born!

THE NUMBERS
💲️$162,500 purchase price
💲️$201,000 appraised value
💲️$51,000 cash to close
💲️20-22% CoC Return

THE PROPERTY
🏠1472 sq ft
🏠 3BR, 2.5 BA
🏠 Townhouse
🏠 Built in 2008

THE BENEFITS
✅ No hassle deal for the seller
✅ I paid all closing costs
✅ Quick Close
✅ Problem solved for the seller
✅ Property Acquisition
✅ Instant Equity

What made you interested in investing in this type of deal?

It was an off-market deal in Atlanta, so I knew I wouldn't have to get into a bidding war to acquire it. The seller just wanted to get rid of the property. No realtors were involved, we agreed on a purchase price and we closed easily with no issues.

How did you find this deal and how did you negotiate it?

I found the deal though a gym buddy. He called me because he knew I invested in real estate (I had been letting people know) and he also knew I had investment properties in Atlanta, even though we lived in SC.

He asked if I knew any Realtors in Atlanta, I said I did, but wanted to know what he was looking to sell. I saw the property, had some interest and started the conversation about purchasing.

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

I bought the property with instant equity! All I have to do is go in and add some fresh paint and I'm going to update the light fixtures.

What was the outcome?

This is another step closer in fulfilling the vision I have for my life. Nothing has been easy for me, it has always taken time, perseverance, consistency, hardships, lessons learned, education and diligence.

Looking forward to more acquisitions this year. I made my first intentional purchase in December of 2020 and it's been hard knock after hard knock since then. This deal helped to increase my confidence and definitely helped with momentum. It hasn't been easy, but it's been worth it.

Lessons learned? Challenges?

The primary lesson learned here is to let people in your network know what you're doing. That's how this deal came to me.

@Jagnoor Gill you should do both. Reading about REI will help you to become more knowledgeable and be able to ask better questions to investors. Continue to read, listen to audiobooks & podcasts and network with others who are in REI.

@Dylan Brown I use PriceLabs for automated pricing and I also increase my prices by 15% on Friday and Saturday and by 10% on Sunday. Make sure you have good professional photos as well. These two things help to make a difference.

I have a property that I purchased last year that is a 2-unit home. It was sold as a single-family home and listed on tax records as a single family home. The home does has 2 kitchens and both "units" are adjoined by a breezeway.

I have been proceeding as a duplex and have been fine with that until my appraisal came back low. The SF homes in that area are going for around $200k and my appraisal as a duplex came back at $145k and I have more than that in it with more still to spend.

The property is 2040 sq feet total. So each side is over 1,000 sq ft. I want to re-do my loan as a single family home to get a higher appraisal.

The property is 2040 sq feet total. So each7 side is over 1,000 sq ft. I want to re-do my loan as a single family home to get a higher appraisal.t was just one. My plan was to BRRRR this property. I'm going through the cash-out refi now, but at 70% LTV on a $145k appraisal is making me leave about $70k in the property.

Looking for experienced feedback in this situation.

YouTube Videos of property: https://youtube.com/playlist?l...

Hey jaclyn! I was there too! It was a good event.

@Paul Lowder, hello sir. I'm in Columbia and still trying to land my first investment property here as I do have some in GA. I don't think you have to put 15% down on a duplex if it's going to be your primary. 

Why is that your dream property?