All Forum Posts by: Bijal Patel

@William Hubbard III  do you mean the North Georgia National Bank or Bank of North Georgia?

@Mike Lambert  You are welcome.  I am local to the Atlanta market let me know if i can assist in any way. 

Try Quantum Bank in Suwanee.  Speak to Ms. Joshi.  I have great relationship with that bank.  I just spoke to them this morning about funding a purchase of an apartment building.

Good Luck.

I carry a firearm on me when ever I show houses.  I did this while I was wholesaling and now I do it as a licensed agent.  

Since we both are in Georgia you should go to these website to get upto date and current information on Georgia gun laws.  www.georgiacarry.org and www.georgiapacking.com

Put me on the list for the next meeting.

I need assistance in evaluating this subject to deal. This is my first real estate deal and I would like to wholesale this deal for quick cash. I have this house under contract “subject to”. The Seller is behind on payments by over 1 year.

Location: Atlanta, (Decatur) Georgia

Comps: $75,000 to $80,000

Repairs: $5,000 – (cosmetic and replacement of a refrigerator)

Condition: the house has been vacant for over a year. However, the seller lives nearby and goes to the house once in a while to make sure that things are ok.

Amount to pay the bank to make the loan current: $17,000

There is only one loan on the house. No other liens on the house.

The Loan period is 30 years started in June 2011

Principal amount: $107,725.00

Rate of interest 3.25%

Interest type: ARM. Next evaluation of the interest rate will be in September of 2015

Monthly loan payments to the bank: PITI $592.06

Market rent potential: $850 to $900

Sec. 8 rent potential: $950 to $1,000 (section 8 will rent houses on this street)

I do not understand subject to deals completely.

Is there enough meat on the bone for me to wholesale this deal? So that I make cash and the investor makes a decent return.

Thanks in advance.

@ Andrew Cordle,

Thanks for staring this thread and sharing the information.  I live in the Metro Atlanta area and would be very interested to look at the flip process in-person.

I am a New member as well.  Been of the site for about 2 weeks and learnt a lot.  The Podcasts are a great learning tool.  Good luck to all in our real estate investments.

- Bijal