All Forum Posts by: Constance Chambers

We’ve made over 10 offers on sound deals meeting our criteria, only to get beat out by “cash offers” so I’m considering private $ lenders & have been contacted by a few...but I get totally on the defensive every time & it feels like working w a used car salesmen. They’re not interested in “my story “ just throwing numbers & I have a really good aw-2 job w my husband., how do I accurately vet these “lenders”?? I could still just use a bank locally, but I’m trying to avoid the 20% down scenario

@Kurt Stevenson Hmmm... I’m not a fan of Stone Mountain area...generally speaking, if I wouldn’t live there I don’t want to invest there. You will chase rent & have a lot of tennant turnover in Stone Mountain. Mostly C / D class rentals. Athens is a hotbed, condos are everywhere to buy...but there is a reason there’s so many for sale. Most of your tenants are UGA students. So do your homework (no pun intended) before deciding to take them (students) on. You will have better luck w Duplexes etc. In my opinIon Certain areas of Athens are not so desirable though, Just email me & I can let you know If you decide to come down, WE’D be happy to show you around. Just PM me if so

hi Kurt, we are investors (newbie...just bought our first duplex 8/30/18) in the NE GA area...we live in Athens, GA are members of a local REI group. i am from this area originally, moved back 5 yrs ago...my husband has lived here all his life...we've done years of research and getting our ducks in a row before moving forward this year...if you want to connect or ask questions more specific im more than happy to offer my knowledge.

thanks for revealing your rehab numbers, we live in Athens... just made offers today on 2 homes ( 1 off market & 1 MLS duplex) how did you find contractors? that seems to be a big issue in Athens, everyone is backed up... is that what held up your rehab times?

after 2 years of analysis paralysis, i have an off market deal for a SFH & a MLS deal for a duplex...in Athens GA. made both offers today, conventional loan wont be an option for a few months for us. Both owners "just want out" & have managed the rentals themselves and are tired of the headaches. The properties are well below FMV, the SFH is 30k less than tax assessed value for 2018 (he inherited the property) and have great rent roll history over 5 years. The duplex price has been dropped again today! they are asking 149, but we are offering 125...per our calculations will work for our desired cash flow per door. (both properties will be buy and hold...brrrr is the plan for the sfh)

We are submitting an offer on a reverse mortgage foreclosure next week, my RE agent text me that the lender may require me to turn them on if the seller won’t prior to getting approval for the conventional loan. The home has been vacant since January..has, power, water are all off. Has anyone heard of this practice? How can I have utilities turned on for a property I don’t own?

I love Amica.   I found them through nerdwallet.com & bankrate.com reviews (& clark Howard for those RE investors living in GA)    We use them for everything, including our investment property.  Never have issues reaching them & excellent customer service & ease of use for online submissions of paperwork is worth the little extra you’ll pay (they’re not the cheapest)    State Farm canceled us after a claim of less than 10k for broken hot water heater flooding a crawl space.  After going up on deductible to 3k initially.