All Forum Posts by: Vernon Calhoun

@Bridgette Delva Thank you for the input. I will look into those cities as well! 

For the loan, I am seeing if there are combo/bundles where the renovation can be included within the mortgage loan. So for example. House price is 50k but needs 25k of rehab. Are there banks/credit unions willing to finance the 75k or portion of 75k with a certain DP%

@Jingru Sui Thanks for the reply. I will keep in mind to look further than just the Atlanta area. I've been researching Macon as of recent.

@Whitney Hutten Thanks for the info. I will start to explore those areas as well! I will definitely get in contact with you if I end up looking into those areas more.

@NaDean Bowles What would your typical light vs heavy rehab cost in that area be? This is an area I am trying to get a better understanding of, rehab estimations. Thanks!

@Brenden Mitchum, thanks for the reply! I will for sure reach out to you about Atlanta market. 

I should have included surrounding areas as well, not specifically just Atlanta.  

Hello all! I am just getting started with real estate investing. I'm looking to purchase SFH rental properties in the Atlanta area using the BRRRR method. Ideally I would like to to find houses under 80-90k. 115k max including reno.

- Are these deals possible to find?

- Are there lenders who will long term finance both home and reno into one loan?

Thanks!

Btw I'm located in California. Working with teachers salary.

Thank you for the welcome, really appreciate the responses. So far I have not read any books on real estate, just articles and blogs thus far. I have been searching amazon for books on financial freedom and real estate, hope to purchase one soon. From what i've been reading so far, it seems like purchasing a multi-family unit and living in it while the tenant pays it down would be my preferred path. 

My biggest obstacle, at least I think, would be paying down my debts and increasing my credit score before beginning this venture. I am 45k in debt: 5k in credit card, 17k in student loans and 23k for my car payment. My credit has gone up significantly this past year as I have been paying down my credit card debt. Worse was around 590 this time last year, I am now at 670. Not ideal, but I am making progress. I am hoping to use this site as a support system and to pick the knowledge of those who have been down a similar path as I have with debt and credit before beginning.

Once again thanks and I hope to begin this venture soon!

Hello, this is my first attempt in learning about real estate. My background has been high school education/coaching (special education, pe, health, football) for the past 7 years. I have been interested in finding away to generate passive income and still be able to coach, which is a true passion of mine. The idea of having to go to work everyday and not be in charge of my own time is a major reason I am venturing in this direction. I want to be able to enjoy life to the fullest and have the ability to travel, especially getting to see my brother and his family who live across the country more than once or twice a year. No worse feeling than being restricted on what you can do because of time and money, rather lack of money. I am really hoping that this community will help open my eyes in the right direction to gaining financial freedom and enjoy the pleasures of life.