Real Estate Investor · Atlanta, GA · Member since 2013 · 10 posts · 0 votes
Hey BP folks. Thanks for having me. As I'm being dragged kicking and screaming intro the world of landlording. I decided to stop lurking in cyberspace and join up.
My name is Jamal (1goodeye). So why join? I just got married and instead of one house I now have two. I found out I'm about $100k upside down on my own house. The only advice I got was to go broke and foreclose or short sale and sit on my hands for the next three years. Since I didn't let myself go under during the recession why should I let myself go under now?
I can be much more creative than that. So I'm all in with a dream and a smile. The plan is to become a REI take control of financial future and leave corp America behind.
thanks Paul. You confirmed my first thought. This place is near both Georgia Tech and GSU. Plus it's outside dog friendly. A little creativity goes a long way.
Oh geez, I hate when people tell you that you have to sell if you are upside down! Always know, the "value" of your house only matters if you are buying or selling. If you aren't doing either of those, your house could be $1M underwater and it doesn't matter a bit! No need to sell it. Either keep living in it or rent it out, no biggie.
Where near Tech and GSU? I used to rent a townhouse of 14th near Turner. Loved it!
the house is 5-6 years old right off of 166 near the Ampitheatre. The neighborhood was turning but oh we'll. All the house around it are brand new also.
5 min downtown 75/85
5 min turner field via street
Wow these are all things I never really thought about. Close to turner , east atlanta, etc...