All Forum Posts by: Tim Stone

Hey Henrry, I don't really wholesale but I'm a buyer in Atlanta

Let's connect

Hey Andrew, I'm in Atlanta too. I liked Nathan's reply because it is totally possible to buy rentals with little to no money down, but you should definitely have some sort of cash on hand for general operations and unforeseen events. 

I've done a few seller financing deals in Atlanta. If you have the time to commit to looking for off market deals, you can certainly find some opportunity to build up capital. Even if you have to pass the deals off to another investor for a fee/partnership it's worth it to learn.

If you ever want to chat I can find some time to brainstorm 

What is your longterm goal and how much time can you commit to it? Wholesaling can be done with a low barrier to entry and relatively low risk of capital. You can also buy properties creatively with no money down (I do this). Different levels of risk to everything and different time commitments to really gain traction. 

I'm in Atlanta as well so I'm happy to chat

 $0 so far. Renewed the rents at market rate thanks to my awesome property manager

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $3,300,000
Cash invested: $900,000
Sale price: $5,050,000

First ever real estate deal. With partners. I did all of the property management at 20 years old. Sold the deal after 14 months almost making $1.7M

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $195,000
Cash invested: $30,000

Duplex in a great area. Right behind TopGolf! Appraised at $285k before I bought it. Came in with $90k in additional equity.

If you do the math on $30k invested, I got a 4X return before I even touched the place!

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

I loved the area and it has been a goal of mine to buy a duplex there. We did a 48 unit deal right around the corner but have since sold it

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

Wholesaler

How did you finance this deal?

15% down loan from local credit union

How did you add value to the deal?

TBT

I’m here in Chattanooga too. There’s plenty of meetups happening every month (in person and virtual). The best thing I can recommend is hopping on Facebook and joining all of the free groups for the area. 

Some of the meetups have slowed down for the holidays. 

@Luke Carl Yep, almost. We should still talk some time.

Hi, 

I've been in Chattanooga for about a year now so I have a pretty good feel for the city. I group up in a vacation town that sees phenomenal returns through short-term rentals. The city of Chattanooga has quite a few hoops to jump through in order to legally operate a STR so I was wondering if any BP users are legally operating AirBnbs and would like to talk.

Some people are finding great success in Chattanooga with STRs and others choose to stay away. Let me know your thoughts.