All Forum Posts by: Stephan Nemeth

I am currently in the process of looking for a 3-4 unit property to "house hack" (live in while I rent the other units) in the Atlanta Georgia area. I am looking to put the least amount of money down to keep money free to continue investing outside of this property. Does anyone have any suggestions on where I should be looking; FHA, credit unions, etc.

Azeez, thanks for the detailed response and the well wishes.  Im glad you mentioned the incredibly high valuations ITP.  Have you continued investing ITP despite the high valuations or have you found better places to invest in the Atlanta area?  Also, are you concerned about a market correction or steep decline in property values coming or in your opinion is the current rise sustainable?

Thanks for the responses.  If I left them as month to month would I have them sign a lease stating that they were month to month to get it in writing.  Also, how would you handle eventual rent increases unless they were in the agreement?

I recently bought a four unit complex and thisbisbthebfirst property I've bought with existing tenants.  Two of the tenants have currently expired leases and are month to month.  They've always been presented new leases in the past but since the seller is in the way out, they have not presented new leases.  My first thought is to present new leases as soon as I close but is there any reason I would continue to let them go month to month.  Also, they supposedly have been great tenants who have been there a while, if they didn't want to sign a new lease but would stay month to month

Thanks everyone for the responses/guidance.  The property I bought is a single family home that was converted into a four unit rental in the Virginia Highlands right next to the Beltline.  Great area but had to accept a less than ideal return, which does seem normal for the area right now though.  As for the apartment complex goal, the commercial financing seems like the route that I need to go but similar to Jenkins, the 25-30% down on a 3 plus million dollar property isn't currently realistic for me.  Other than seller financing, are there any other creative finance ideas/strategies or is this just a situation where I need to keep investing small until I save up/create the necessary down payment?   

I am closing on a four unit property in the next couple weeks but really would like to purchase an apartment complex in the Atlanta Georgia area.  After have gone through the bank process to get a conventional loan to purchase the four unit property, I am incredibly curious as to how it's possible to get financing for a much larger purchase, such as an apartment complex. Also, financing aside, any insight on partnerships, best practices, stories or anything else related to help me realize this next goal.