All Forum Posts by: Tom Valichka

Hello BP,

I am what you would call a newbie.  I am still in college and have not done a deal yet. However, I am always looking at properties, and trying to take investors for coffee/lunch to pick their brains.  My friend who I played college ball with has hooked me up with grandfather who is an established real estate agent who owns his own agency.  I have a bunch of questions written down that I want to ask him, but I was wondering if you guys have any input?  Are there specific questions that I should be asking him? Are there questions I should not ask him?  Does he want to hear anything specific? Thanks again BP community! Any advice is appreciated!

@Mitch Nelson 

Hey Mitch,

Welcome to BP. I am having the same problem as you, just in the opposite market.  I'm in the Young Harris, Blairesville, Hiawassee area and everything seems to be for sale or in foreclosure.  When I call home owners about their house for sale, some say they have had their houses for sale for 3-5 years. I'm afraid if I invest, I may get stuck.  People on BP have told me I should invest up here and others tell me I'm crazy if I do and I need to look at Atlanta.  I'm looking for that opportunity just as you are! Good luck and let me know if you find anything.

Tom Valichka

Michael,

There are many ways to look for owner financing. You can search online, craigslist, what have you.  But as others have said the best way is to go search for "for sale by owners" or just straight up house for rent signs and asking if they would consider selling under owner financing, or even lease option wouldn't be terrible.  If they own the house outright and have paid off the house and just want to sell the house this would be a perfect owner finance.  You can propose to them that they will be getting more money over a longer period of time while also receiving monthly income.  This method of riding around and searching for signs and leads may not be the most convenient, but it could prove to be beneficial.  

Rick Baggenstoss

Rick Baggenstoss Your correct Rick. This area is not for conventional selling. It is highly seasonal. Most people live, work here and have their homes, or are from Florida and have their second homes here for the summer. Renting is also highly seasonal on cabin and lake houses meaning, income is not year round. I have came across some owner financing and mobile home/camp site homes. Everything is cheap, which is great, I'm just not sure if this is the right market to get started in if I have to wait for renter season to come around a few months out of the year. It might to be wise to venture down towards ATL?

Rick Baggenstoss

Rick, yes everything you see up here is for sale at what seems to be pretty low prices from prior research I have done. It seems like nothing is selling no matter how low the price is... I'll be attending an REIA meeting in Cartersville the 14th to network and try to see what other areas I can get into because I'm just not sure about the market here.

Hello BP!

My name is Tom and I am currently living in North Georgia and working as a Geotechnical Engineer. I am originally from New Jersey and plan to go back within the next few years unless I find myself doing business down here. I have one semester left of college before I enter the real world. I will have a bachelors degree in human communication. I have been reading and educating myself with many books like "Rich Dad Poor Dad", "Think and Grow Rich", "Financial IQ", and "The UBG" from Bigger Pockets. I have also listened to most of the Bigger Pockets podcasts as well. The stock market is also an interest of mine (but not as much as real estate investing). As I am still young I want to start planning for long term wealth. I wanted to write this post because I will be attending a REIA meeting in Carterville, GA on August 14th from 7-9pm. I am interested to find out if anyone else will be attending this same meeting? If so let me know. I guess you could say my next step is to find REI's in this area to connect with. Also I am having trouble clicking on the link to upload my profile photo. It just won't let me click on it for whatever reason. If anyone can help me out it would be greatly appreciated.

Thanks,

Tom