New to Real Estate · Snellville, GA · Member since 2019 · 46 posts · 14 votes
Hello Everyone,
As the title states I have 20-30k I would like to invest into real estate in the Atlanta area. I felt the best tactic with my amount would be to flip or BRRRR a small single family home.I'm not having the best luck finding homes in my 200k all in buy box (hard money is 10% down) due to the surging market. Any suggestions on locations I can look into?Thanks to anyone that can help.
P.S. My ultimate goal is to aquire multifamily and rent to traveling healthcare professionals.
$20-$30K in this area and market is not much to work with. If you don’t have experience it is just enough to get you in deep trouble, but that’s about it. You might want to consider partners with experience.
I’m a General Contractor, RE Agent, investor, landlord, in the area. Feel free to connect with me.
$20-$30K in this area and market is not much to work with. If you don’t have experience it is just enough to get you in deep trouble, but that’s about it. You might want to consider partners with experience.
I’m a General Contractor, RE Agent, investor, landlord, in the area. Feel free to connect with me.
I agree with @Tony Gunter $20K isn't much to work with and could get you in trouble if you are not careful. Even if you find a HML to lend you only 10% down you will need reserves for the loan and rehab etc. Most of the time your floating the money for rehab then getting reimbursed by the HML, unless you can find a contractor willing to wait for payment from the HML but that can be difficult to find.
I would either save up more to have proper reserves or invest in partial notes. I am an investor and Broker in the area, feel free to PM me.
@Adrian Wooten I would recommend using a small potion of your $20K to work on a marketing campaign. The biggest difficulty in our market is finding an opportunity; if you can find that, the money, the partners and everything else is easy to find. I would be happy to participate when you find that gem.
Clayton County: Morrow, Forest Park, RiverdLe, Jonesboro might be a good start, I see split levels 1700 SF rented for $1800-$2050 last week. Margins are still good there.
I have bought multiple houses this year for less than 20k
Some I have bought with conventional 2nd home financing. 5-10% down. 230k new construction that I rent for 2k month. These are about 1 hr outside of Atlanta.
In the last 9 months, I have bought multiple 70-110k houses is South Georgia. Rents are 700 to 1100. 20% down. 9-12% cash on cash return. $100-200 cashflow.
Most my deals I find on MLS from other investors. I also call and text 20-30 agents a month to let then know I am looking for a particular type of deal. I have found 20% of my deals off market. This just cost me time, no money.