All Forum Posts by: Bryan Mitchell

Have you asked for some owner financing? You have an IRA? If so, you could consider buying it with a self directed IRA.

I have listened to many hours of 💯 Financed with Juan Pablo. While I’ve enjoyed the podcasts, I’ve always wondered how legitimate his coaching program is. He seems very knowledgeable, 

I’d consider Clayton county if you only have $50K to invest. There is some appreciation and it’s a good rental market and close enough to the jobs in and around Atlanta. Previously, people avoided it, but may be worth a second look. 

Well done. I totally agree with the value of perseverance and grit. This and laser like focus are so important. You don’t have to be a genius, beautiful, or extremely talented to be successful. Keep plunging away, never quit! 

@Elliott Elkhoury, parts of north Columbus dropped, but bounced back a little more quickly than some areas in ATL that I was watching. However, as previously stated the appreciation is negligible. Anticipating growth at or slightly below national average. Unemployment at or about national average in the city but outside the city, it not so good, lower income with higher unemployment and lower appreciation.

@Myles Cardenas $700 for a 2/1 is a little above average. I own a few of those and I struggled to get $600. I’d say that $600 is average but it can go up to $650. I personally don’t prefer paying more than $35K for $600 rents.

@Ken Breeze I agree. Like you said, keep making offers that make sense to you even if the are well below what the owner will accept. It’s great practice.

@David Song great advice. I remember looking for investment properties in 2004-08. Many were buying properties in anticipation of appreciation. I just couldn’t find a deal that worked. Then the market began to decline. I waited and watched as prices dropped. My employment had stabilized and my income had risen substantially. I had the means (down payment) and credit score to secure funding. So, I continued the hunt. I spent many weekends weeding through properties and narrowing the list. Eventually I had an offer on a foreclosure and it was a home run. I only wish that I had more money for down payments or the knowledge about alternative funding sources. So, if the recession were to happen again, have some cash and a network of partners for additional funding at your disposal.

@Russell Gronsky best advice thus far. Risk mitigation is accomplished in the way you describe. Through careful analysis, utilizing/ leveraging your agent. Still you’ll need to move quickly and not reach a state of analysis paralysis. Lock up the property quickly do you due diligence using your own inspectors and contractor to estimate repair costs based on the inspection. You can’t time the market. Instead stick to your fundamentals.

I think all college graduates get excited about investing in university life. In many cases, they are reliving their youth. However in this case, it appears to make good financial sense. Being a highly sought after school with limited quality student housing, it is appealing. This strategy could be replicated, but probably not a small college town of small public university that churns out graduates who are on the lower end of the salary spectrum.