All Forum Posts by: Canesha Edwards

@Anye Wanki

Hey Anye-

Congrats on taking steps to buy your first property. I’m a licensed agent in Georgia that currently lives in College Park, GA. Atlanta is a great market that will continue to see great growth.

The areas you’ve mentioned are very different as far as price. Properties on the Southside will be less expensive than properties in Smyrna. I have a couple of clients that are looking to accomplish the same thing. I would be happy to help you with your search as well.

Shoot my a PM and we can discuss forward.

Best,

Canesha

@Charles E Nielsen

Hey Charles-

What are you looking to get started with ? Wholesaling, fix &flip, buy &hold.....there are a lot of ways to get started in real estate. I think the first thing would be determining what type of investor you want to be and going from there.

Real estate is a cut throat business, so if you are looking for a mentor...you can either pay for one ( I don't recommend this route) or you can make yourself valuable to others who in turn will include you into their real estate circle. Join an REIA and start networking see who the big players are in your area.

Best,

Canesha

@Thomas Hicks

Hey Thomas-

The next thing you need to do is determine the rehab cost. A full gut for a house that size will probably run you - $60k in rehab cost minimum. Probably higher- this is just an educated guess. Room additions will increase this price.

Best way to determine specific numbers is to walk the property with a contractor. Once you have an estimate- you can work backwards to your offer price.

Hope this helps.

Canesha

@Jesse Woodall

Hey Jesse-

The best advice I have is to talk to multiple lenders in your area and some that aren’t. Ask for term sheets, and about their current lending appetite. As with anything in real estate, it’s about building relationships. Make a list of Hard money lenders and start calling around.

I wouldn’t wait to find a property until I find a lender. You should be doing both. good deals always get funded so don’t stress.

Hope this helps.

Canesha

@Napoleon Titschinger

Hey Napoleon-

Being proactive is good. Here’s my advice. Follow @househunter216 on IG. She is based in the Cleveland area and shares a lot of good information. I’m a licensed agent....If you want to wholesale, I say you don’t need it. Get an appraiser license instead. This will help you understand how to value a property and help with estimating rehab cost.

I would also say, determine what type of investor you want to be in the beginning and focus solely on getting there. Obviously, wholesaling is your way in and a funding source, but what is the long term goal? Answer this question and you will have a goal to work towards.

Just my 2 cents.

Best,

Canesha

@Long Wong

Have you asked the owner if they are willing to seller finance? Essentially, the owner becomes the bank. You can negotiate terms agreeable to both parties. Present it to the owner as still having a guaranteed monthly income without the hassle of managing a property.

Hope it helps.

Best,

Canesha

@Ernest Henley

Hey Ernest-

Congrats for getting the property under contract. I wasn’t able to view the pictures, so here my comments from the information provided.

1. You don’t mention anything about rehab cost. Is this a complete gut or cosmetic rehab? How much is it going to take to rehab the property?

2. Your comps are a little off. For properties within a city like Atlanta.... comps should be within a mile of your subject property and have sold within the last 3 months...6 months max.

Also- you need to pick properties that are comparable in size. If this is a flip,,,, a duplex shouldn’t be in your comps list. Also, new construction wouldn’t count as a comp unless this is a tear down and rebuild. You need to look for other fix and flip properties in the area that are around the same in sqft, number of bedrooms, etc. Look at what he property sold for prior to the rehab and what the property sold for after the rehab.

Fulton county qpublic is a great help with this.

How did you come up with your offer price to the seller? Just curious.

Best,

Canesha

@Tim Sipowicz

Hey Tim. An MSA is just a large metro area that is comprised of smaller cities and towns. I say start here because it gives you information at a high level.

Example- Atlanta- Sandy Springs in a large MSA in GA but it is made of of smaller cities such as East Point- BuckHead, etc.

It might not be a good idea to invest in East Point if the population growth of Atlanta is declining. This is just an example hit you get the idea. Now, it could be that East Point’s population is rising because a new company is opening their headquarters there.

The census website has a lot of information.

I suggest using the following

1. Quick facts

2. American community survey: Demographics and Housing

Best,

Canesha

@Enrique Kratz

Atlanta has a lot of great areas. Send me a PM with your price range and we can go from there.

@Joe Villeneuve

You’re too kind!