All Forum Posts by: James Sigsbee

Welcome to BP @Marc Brenner.  I live in Marietta and have several rentals in Metro Atlanta.   Happy to connect and help you out however I can.  

Hi @Matthew Holland and @Jason Souder,

Did either of you end up looking into investing with them any further?  Hopefully someone on the site has some experience with, or can provide an opinion of, working with them as I am curious as well.

Thanks,

James

Hey Toby,

Welcome to BP. I live in Marietta too and own rentals in the Metro Atlanta area.  I would be happy to meet up or help you however I can.  If you (or anyone else on BP) would like to get together locally and talk real estate, just message me.

Best of luck on your journey!

James

@Elizabeth Luchenbill - Don't discount your experience just because it was not intentional.  There are tons of things to learn regardless of how we all got started.  The advantage you have (hopefully) is that since these properties were purchased in the past, you could have significant equity and maybe very favorable financing lined up on them.  That will allow you to A). make some mistakes with a lot more leeway than a newer investor starting now or have them work as investment properties at your basis where someone buying today would be cash flow negative or B) eventually sell or refinance the properties to raise the equity for higher return or larger scale investments.   That has generally been my mindset shift since I got into rentals, and I'm just at the beginning stages of "B".

Hi Elizabeth,

Welcome to BP.  I've been an investor here in Cobb County on about the same timeline as you.  I'm happy to share my thoughts and experience to help you however I can. If you (or anyone else on BP) would like to get together and talk real estate, just message me.

Best of luck with your business and investing journey!

James

Hi Stephen,

Welcome to BP!  I have lived in Cobb for a long time and own single-families  here and multi-units in other North Atlanta markets.  Based on your criteria, Gwinnett might be a good place to look.  There is a pretty steady flow of available multi-unit properties there (many more than areas of Cobb with decent schools) and in areas that I personally would consider reasonable to live for a shorter period to house hack.   Feel free to connect with me if you would like more information, a property management recommendation, or anything else I can help you with.

Good luck! 

James

Hey Chad,

Welcome to BP.  I have had good luck meeting up with other BP members in the area.  I'm happy to share my thoughts and experience to help you however I can.  If you (or anyone else on BP) would like to get together and talk real estate, just message me.  

Best of luck on your journey!

James

@Michael Ehmann nailed it very well, in my opinion.  Taxes in unincoporated Cobb are pretty reasonable overall and better than ITP.  With regards to flipping, I think competition (as @Ethan Henning hit on) is going to be way more a factor than taxes in the current market environment.  

Hey Tyler,

Welcome to BP.  I live in Marietta and own rentals in Cobb County.  You likely will not find many 2-4 unit properties available in portions of Marietta or Kennesaw, but I do think house hacking is a good way to start an investment portfolio if you can find one in an area you want to be in and the numbers work.  If you (or anyone else on BP) would like to get together and talk real estate, just message me. 

Best of luck on your journey!

James

I agree with Aaron. I'm coming up with $442 per unit for the 13 units. That's really low. I have a hard time seeing how you can do 50% on expenses at that price point on SFR. I have not done any kinds of deals like this one, but with this being a financed purchase, I would think you would have to get a commercial loan where the rate/costs might be higher and the amortization possibly lower as you wouldn't be able to get a traditional residential loan (to my knowledge) on this package. I would be interested if anyone feels differently.