All Forum Posts by: Canesha Edwards

@Allen Gross

I have a contractor buddy and Section 8 or the VASH program ( program for veterans) is his business model. He mostly buys in smaller towns. Finds properties that need a little work and he fixes them up. He doesn’t have a problem keeping the units rent because he has the newest product on the market. He’s a great landlord and keeps the property in good condition and his tenants stay for a long time and take pride in their property.

Don’t let fear hold you back. Manage your risk accordingly and go for it.

Happy Investing!

Canesha

Also, the homes are being sold to institutional buyers. Which points more to a Zillow issue than a market issue.

@Jill Lutz

Correction- Even if the property barely breaks even still not worth it in my opinion.

Canesha

@Jill Lutz

I’m sorry I’m just now seeing this. But I hope you didn’t purchase the home. As an investor, I would not purchase a home in hopes of appreciation that has negative cash flow in the beginning. Doesn’t make business sense, no matter how great a home or location. There will be other opportunities.

Canesha

@Christaye Foster

This is a good problem to have because that means grid upon you.

If I was in your position, I would hire an office manager first. Here’s why.

The manager is going to be someone who eventually will run your business and only involve you with the “$10k” decisions. Therefore, this person should be brought in during the foundational stages.

Your manager should be someone who embodies the core principles of your company. Before you start interviewing, sit down with your husband and determine what are your core principles and what are the must have skill sets.

I also recommend taking time to put together simple policy and procedures. An overview of your current marketing/ lend generation and any other operational practices. This doesn’t have to be detailed. The key is to get something on paper and use this as a building block once you hire a manager. Your manager will help you refine the processes as the business grows based on real world experience.

Best,

Canesha

@Allen Gross

Hey Allen-

My first piece of advice would be to visit the city your going to invest in at least once.

Now, in regards to your research, yes this is helpful information. It sounds like the markets you're considering could make great section 8 rentals. Take a look at the HUD Fair Market rents for that area. Section 8 tenants get a bad rep. There are a few bad apples, but that to be expected. However, most section 8 renters are hard working people who appreciate having a decent place to stay.

Now, if you don’t want to go the Section 8 route look for markets that have a higher population of residents making a higher income.

Also, you mentioned being older and being scared to take the plunge. Have you considered passively investing in a syndication? This may be a good option to consider.

Happy Investing!

Canesha

As someone previously stated, this is a great headline, but 7,000 homes is just a drop in the bucket in the grand scheme of things.

Inventory is around 1.3 months here in Atlanta, so we could use the 7,000 back on the market. However,

the fact that a large percentage of the homes being sold are underwater is worth paying attention to. Are the homes underwater because Zillow over paid in the beginning? Or is the market starting to shift? If other companies like Zillow start making similar moves, I think it’s something to pay attention too.

Canesha

@Daeun Lee

In my opinion, In this market- I think there is more value in the single family home. People don’t have to live in the city anymore and A lot of people are looking for more space.

Another thing that concerns me is the age of a lot of the condo buildings. Will the owners receive a large bill for work being done to the building?

That’s just my opinion though.

Happy Investing!

Canesha

@Ryan Cavanaugh

Hey Ryan-

If I were you, I would be looking for fixers to renovate and rent out. You have a great advantage as a GC. If you have the funds, I would try to find something to BRRR.

Happy Investing.

Canesha

@Daeun Lee

Welcome to Atlanta. Atlanta is a great market with a bustling economy.

Overall more people own be rent in Atlanta but this shouldn’t defer you from looking for a rental property.

Where you buy depends on your investment strategy, but I don’t recommend buying a condo downtown. Just my opinion though.

I would love to connect and walk you through the Atlanta area neighborhoods.

Happy Investing.

Canesha