All Forum Posts by: William Fruman

 Right now, I'd say rehabing is probably something that scares me a bit, mostly because I don't fully understand the costs.  That said, I've got J. Scott's"The Book on Estimating Rehab Costs: The Investors Guide to Defining your Renovation Plan, Building your Budget, and Knowing Exactly How Much it All Costs" and it's next on my reading list.

I'm enjoying the feedback, and I'm seeing an important pattern here. Pretty much all of my searching has been through the MLS, and I've treated offers like one might for buying a home, rather than an investment. That seems to be, at least for the time being, where I'm going wrong.

I'm open to any deal that has good potential ROI - current tenants don't bother me, and I'm okay with investing and waiting for turn over. But I think in that strategy you need to be more sure of what the numbers will look like in the future, and I've seen plenty of "existing tenant" properties that would still be underwater after pushing rents up to market value, if purchased for the asking price, all claiming to be excellent investments with hefty cashflow - a clear example in my mind of your "95% of MLS deals are trash" assessment.

Finding deals off the MLS, and incentivizing sellers sounds like where I need to make the most progress, and do the most learning.

Thank you all again for the feedback.  You've given me food for thought, and more homework to do.

Very good advice, echoed multiple times here.  

We figured we're probably trying to get started at the worst possible time.  High interest rates after a period of super rapid price increases.  Rents seem to have topped out in the Metro Atlanta area, but everyone is still expecting very high values on property.

So the watch-and-wait strategy seems like a good one.  But I don't like to sit on the side lines.  If the opportunity isn't there, then that's fine, but I don't want to miss it because there was something I didn't do.  So while we wait, I wanted to see if I could reach out here for some advice or at least hear what others think about the current market.

Hi all,

Thank you for the thoughts and insights.  I do have a small team helping with research, and I look at maybe 3-4 properties a day, though we've not bid on very much so far

@Henry Clark, these are some very interesting approaches and I will take them to heart, thank you!

@Josh Bowser I actually hooked up an amortization schedule to excel so I could prove to my partner that increasing money down would increase ROI in specific situations, even though that's rather counter intuitive in many ways.

@Jim Reynante I'm not sure I'm adventurous enough yet to explore out of state opportunities.  I'm not sure what you mean by the "Core 4 Team"?

@Christian Ehlers Good advice - we're considering a strategy to offer all cash and then refi to bring down prices on offers.  What do you think about that idea?

@Account Closed I fortunately have a friend in the area who is also an investor, and we talk daily.  But he's in mostly the same position with the market, so I'm hoping to pick someone elses brain in the mean time.  Aside from Henry's advice in this thread, I'm not really sure how to pursue off-market deals, I'd be happy to hear any advice either here or by DM.

Hi all,

My wife and I are getting started with rental property investing, we've done some research, gotten with a pretty motivated agent and looked at homes (single family/multi-family) all over metro atlanta, and we really can't seem to find much that actually works with investor math.

Most of what I see seems to have an asking price that's either too high to justify the market rents, or probably wont have positive cashflow for a couple of years with needed rennovations.

I feel like I'm either missing something or not being creative enough with our strategy in the current market.

I'm hoping to start a conversation and maybe get some advice if anyone has tips for the metro Atlanta area.

Thanks in Advance!

 Hi Nicole,

I'm also interested if you can send more information my way to [email protected]

Hi All,

I was also hoping to join the next meet up.  Is this the place it would be posted or would it be in a new post?