All Forum Posts by: Account Closed

I started my RE journey with a house-hack and I can share my thoughts. Please PM me !

Yes, you only need to put down ~5% for owner occupied conventional loans after your first one. 

@Ashish Acharya and I am CPAs in Atlanta. We are also investors. 

Trey, I have never done a seller financed deal so cannot give you a very good feedback on the deal structure. Overall, this seems like a good deal. I would ensure the taxes are adjusted for the new ARV (the county will catchup to you in a year or so) in your underwriting. Given this is a quad, I would have reserved 6% for CapEx (4 mechanicals and huge Sq Ft). Your Turnover/Make-ready cost is highly correlated with your tenant pool quality (which I am not sure of) but I would also consider how much would that take and if your vacancy/credit loss reserve would be sufficient for covering your debt services and turnover/make-ready during turnovers. Good luck !

Don't wait for the perfect BRRRR. A good-enough BRRRR deal should be significantly better than the traditional way of buying a rental. The sooner you do your first BRRRR (regardless of how it goes), the closer you are to your perfect/better/more BRRRRs. Good Luck !

Commercial Residential. 

Hello everyone, my brother @Ashish Acharya and I am local investors in Atlanta. 

In the last 15 months, we have BRRRR'd 10 properties in Tucker, Scottdale, Smyrna, Kennesaw, Woodstock, Powder Springs, Westview, Florida heights, and College Park. Some were prefect BRRRRs, for some, we got paid $2K in the refinance, and some have small capital stuck ($3K-$14K). All cashflow great.

We are currently underwriting small multifamilies and looking to connect with investors with similar vision. 

@Zach Westerfield, excited for you. It is certainly doable in the Greater Atlanta market. 

In the 15 months, we have BRRRR'd 10 properties in Tucker, Smyrna, Kennesaw, Woodstock, Westview, Florida heights, and College Park. Some were prefect BRRRRs, for some, we got paid $2K in the refinance, and some have small capital stuck ($3K-$14K). All cashflow great.

The 6 month seasoning period starts from the day you cash close and not once your rehab is done unlike what @Brenden Mitchum said. I agree with @Brenden Mitchum that there's a possibility of change (both favorable and unfavorable) in your ARV in those 6 months.

To manage the risk of ARV uncertainly, we refi our projects within 2 months (Yes, with conventional loans and not non-qualified or Hard Money ones). Your transactions need to be structured a certain way to get around the 6 month seasoning period requirement for the conventional loans. Please connect with me and I can walk you through it if you are interested.

Congratulations @Nitzan Mosery ! Would love to understand how much difference (operation and bottom line) does it make by bringing the management inhouse. 

Send me a message !