All Forum Posts by: Al Pat

@William Thomas, Think this way. What you investment out of pocket? Essentially you are using banks money to create a cash flow. 30 year will give you flexibility and greater cash flow.

@Andrew Powers Absolutely Not. Zillow uses algorithms to calculate the zests are and rent estimates based on public information about the property such as location, sq ft, bedrooms and bathrooms. Then spits out zestimate. Their process does not account for property upgrades so it is vastly off then an actual appraiser giving you the price.

@Sinil Kim you provided incomplete picture here. What’s the current rent? How much are the deposits?

I bought duplex last year and sent them introduction letter and mentioned that we are reviewing their files and lease will reach out if updates are needed.

Then in a week, we sent new leases if one did not exist. The one that had a lease but deposit was not topped off received a letter to pay the difference and a payment plan offer. The ones that do not have leases were given opportunity to enter into new lease at market rate with option to terminate tenancy in 30 days without penalty.

How far below market are you?

@Thomas Moran This happens due to land settlement or foundation sagging. Potentially resulting in dropped or uneven ceiling, joist pulling down or under stress, Door’s not closing in bed rooms, tiles cracking etc. I would recommend having a building inspector before proceeding further. I’m not a big fan of property with foundations issues as it can be expensive to mitigate.

@Nicholas Rice with all the information provided, $50 wouldn’t break the bank. Sell it as a middle ground between $950 and $1050 with final amount at $1000. Quality tenants are key to success in this business. She clearly cares for the unit, so if I were you, I will consider the request, though partially and go for $1000 a month.

@Alyssa K. I have been using Cash App and Zelle now for over three years and like the instant receipt of the payment. I have not used Cozy since other two are free and secure.

@Bryant Ervin Yes, we have monthly meeting at the Ivy at Buckhead last Wednesday of every month where about 100-125 people participate. It's hosted by @Vince Crane. Also join Atlanta REI page on Facebook to get regular updates.

@John Underwood I actually like the code enforcement violation, eviction. Taking notes to research in Atlanta area. My lease also says, if landlord can not correct the condition in seven days then the lease is nullified and deposit will be returned.

@Tyler Kress If your dad’s cousin hated it so much, why is he still holding on to those properties? There lies your answer. People will tend to under estimate you until you have tangible results to show, it’s normal. Now the key point I would make is, you don’t need no one’s permission (but you know that anyway) unless you are raising money from them. Now, I did not tell anyone about my investments until I cracked my third deal because to me it’s a business and just like I don’t tell around what I do at work, this is no different.

Do your homework, jump In multi family unit and expect to have bumps in the road but also know these are just the bumps and not dead end.

Good luck.

@Kathleen McCabe I have been hearing that crash is coming for now over 2 years and nothing has happened. If you look and do your due diligence, there is always a property or two at any given time that will make your expectations. I have been buying every year.