All Forum Posts by: Canesha Edwards

Hey Davonta Williams- 

Congrats and welcome to the club. My answer is it depends on your long term goal.  If you have an interest in commercial real estate, I would start there as an agent.  Don't waste time in Residential if that's not where you want to build your career.  However, being a commercial agent is expensive.  Here in GA the fees are defiantly higher than residential agents.  So, if your financial situation isn't the best or you want to save money, go the residential route until you have enough funds saved to cover the commercial fees.  Hope this helps. Feel free to reach out any time. 

Happy Investing!

Canesha

Good morning everyone-

I hope all is well. Are there any brokers currently licensed in GA and AL? If so, please Send me a PM. I’m looking to switch brokers and would prefer someone dual licensed. Thank you.

Best,

Canesha

@Ryan Chatman

Thank you.

I agree. The South has a lot of opportunity on the residential and commercial side.

Do you have any properties in Atlanta?

Canesha

@Fready Mills

Thank you. That was the goal.

Canesha

This little big city has gradually made a name for itself in the real estate industry. Atlanta is unique and thriving. The job market is growing and housing prices are at historical highs. It’s a great time to own property in Atlanta and surrounding areas. For those of you looking to break into the market, here’s a breakdown of the area.

The Atlanta area can be separated into two distinct categories…..inside the perimeter (ITP) or outside the perimeter ( OTP).

Check out the map.

https://www.n-georgia.com/images/atlantamap.gif

Every area inside the HWY 285 loop is considered ITP. Within this circle you have several different cities. To the north you will find the cities of Buckhead and Vinings. These are affluent areas that give a suburban vibe while living close to the city. Good school systems. Well established areas. Properties typically have higher appreciation and lower cash flow. The area maintains it’s value well.

To the East lies East Atlanta. Edgewood and Kirkwood are in town hot spots on the east side. Lots of development, new houses, retail and entertainment. A little further East is the City of Decatur. Decatur has seen a lot of flipping activity over the past 3-4 years. Deals are hard to come by, but this is a solid area to invest. Good school systems, solid appreciation, higher class tenants.

West Atlanta is still transitioning. Areas closer to downtown have seen the most growth, like The WestEnd. This area is close to all Atlanta universities, so college students are a large part of the tenant base.

Further west is Grove park, an area to look for opportunity. Grove Park is an underserved market that would benefit from additional investment in commercial and residential options. Microsoft has purchased a large track of land in Grove Park to build a new Hub here in Atlanta.

Comprised of East Point, College Park, and Hapeville, the south side of Atlanta is ripe for growth. Several development initiatives are underway like the Aerotropolis and Six West. Property prices are lower here than in the other areas mentioned above.

An issue with the south side is the school system. Schools are poor in some areas, while in other areas the schools are excellent. For example- Woodward Academy ( A top notch private school) is located in College Park. I foresee the school system turning around as more money pours into the areas and development continues.

Remember : A bad deal looks great in an up market. Make sure you’re buying quality.

Happy Investing.

Canesha

@Terry Pollman

Okay Terry- not having any funds to bring to the table can make it hard to find partners. But don’t be discouraged, there’s always a solution. Without having funding, you have to find other ways to add value to the deal.

What skills do you have that would be beneficial? Are you handy? Could you do some of the rehab work? Also, starting out in your position, you may have to give up a lot of equity. Still, having 20% of something is better than having 100% of nothing. The key is to find a way to get in the game. So, maybe that means connecting with someone who has capital but zero time to spend looking for deals or walking through properties.

In the meantime, start saving money. Real estate like anything else requires capital.

Best,

Canesha

@Anais Hawkins

Hello Anais-

I hope you’re well. My first recommendation would be to speak with the bank where you have established your business bank account. Since you already have a working relationship this is the best place to start.

Typically, you're able to get a LOC for 10x your liquidity. So, if you have $20k liquid cash, you're eligible for a $200k LOC.

Never be afraid to shop around. You’re objective is to find the best terms suitable for your business needs.

Another option could be a business credit card. You’re able to have the financing you need while benefiting from rewards points.

Best,

Canesha

@Jeannie Tam

Hey Jeannie-

Welcome. First, if a property is selling at a 10% Cap in this market, the property probably needs a lot of work. Or there is some other issue.

Next, the best way to find investors is to network. I would suggest attending REI meetups, getting involved in the forums here, etc.

Also, the other key to working with investors is to provide value, especially if you’re looking for someone to invest their money with you. How will an investor benefit from investing with you? As a newbie, focus of providing value to others and the opportunities will come.

Best,

Canesha

@Jonathan Rigg

Always make sure the contractors are licensed and insured. Ask for references and examples of work. This is a good place to get started.

Also, pay attention to how well the contractor communicates with you. If you ask for a quote and it takes a week to get it to you, this could be an indicator of how work will go on your project.

Right now, every good reliable contractor is busy. So, if someone tells you they can start right away, be weary.

Best,

Canesha

@Jennifer Arena

Hello Jennifer-

This is a loaded question. Depending on the market you may be able to accomplish this. You should look to purchase a home that needs only cosmetic fixes. I would say consider the Cleveland, OH market. I don’t personally invest here, but I receive deals all the time in this market that may fit what you’re looking to do.

Best,

Canesha