Aspiring investor searching for first deal, near Savannah GA

[Isaiah Backiel]

Hey everyone! I am an aspiring investor, near the end of my enlistment in the army, stationed here at Fort Stewart. I have come across, what seems to me, a great opportunity for one or more single family homes, all owned by a single investor who is looking to sell due to a lack of time/"getting old." I spoke to the owner over the phone, who is selling privately and not putting the property on the market. The owner mentioned having a few other properties they are renovating to get ready to sell. I see this as a great opportunity to get into the investing world, and would like to try to work out a deal with her and not go through a realtor, to save us both money. I was thinking seller financing, at a discounted price, and the current owner would continue to receive a percentage of the income from the properties for a period of time while I owned them. I have little money to put down, so I am trying to be creative with financing. This would be my first deal, and to me, the education and experience of going through the process is worth far more to me than the monthly income from the property. I would be happy with a profit of $50/mo, just for the experience gained from the deal. Any advice would be greatly appreciated!

[Gabriel Miritello]

Welcome. I invest in Savannah too and am also military. If you haven’t run the numbers through the BP analyzers that is a good starting point. Depending where you are at Savannah, RH, or Hinesville rent can vary greatly.  The issue I’m seeing is people selling at jan 2022 prices but the numbers may not support that. Shoot me a message if you wanna talk some ideas or if you’re looking for funding, may be able to help. 

[Karan Agarwal]

I am an investor in Savannah and would like to connect. I think creative finance is a great idea with current interest rates as both sellers and buyer find a win-win. I would love to connect. 

[Alli Breighner]

Hi Isaiah, 

Welcome to BP! Would love to connect.

[Kenny Smith]

@Isaiah Backiel

Welcome to BiggerPockets! You have hit the JACKPOT of resources for real estate investors. You can literally find answers to all of your questions within the confines of this site. What’s the best way to get started using BiggerPockets?

1. Subscribe to the BiggerPockets Money and Rookie Podcasts

2. Attend the FREE WEBINARS

3. Attend a Meetup in your area/virtual meet ups

4. Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy

5. Peruse the forums! Ask questions! Answer questions! If you are consistent with learning real estate over the next 4-6 months, you’ll be ready to purchase your first (or next) property in NO TIME!

Good Luck,

Kenny

[Joshua Austin]

Isaiah, how did this turn out? I'm in the Savannah area also. I did a seller finance deal with a seller once and bought 8 properties from him. It took a long time to build the relationship but I was able to secure the mecca 100% seller financing that we all dream about. haha. I am happy to share my experience anytime.