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Joe Fernandez
  • Real Estate Agent
  • Atlanta, GA
9
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23
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First Deal under contract! Now what??

Joe Fernandez
  • Real Estate Agent
  • Atlanta, GA
Posted Oct 3 2016, 06:56
Hi BP. So after months of analysis paralysis i finally have a property under contract. I'm a buy and hold BRRR investor (or trying to be). I'm also an agent. Property is from the MLS. Purchase prices is 100k , but comps right now In the area are $130k-200k. It's in Decatur, GA. I believe the area will appreciate significantly in the next few years. Property is leased, so I'm inheriting a tenant at $900 a month till April. Once lease is up, I'm confident I can get $1400-$1500 rent with some updating. What should I be doing in my due diligence period? Right now my plans is: 1. View the property. I've driven by but I have not seen the inside yet. Pictures look promising. 2. Inspection. 3. Survey. There are some petroleum lines underground signs near the home, I want to know what the easements are. Anything else I should be doing? Any tips on handling the tenant, the security deposit, and the current management company? I definitely want the Tenants to vacate once lease expires. I plan to self manage so I need to get rid of the management company. Thanks for any tips anyone can provide. I would have never jumped in without BP!

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