All Forum Posts by: Elaine Raymond
Elaine Raymond has started 2 posts and replied 5 times.
Post: Looking for an agent who specializes in small multi-family homes in ATL
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Quote from @Toby Kim:
Bought a quadplex in Lithonia back in the fall of 2021. Highly recommend you contact Breionne Jackson from the NTW team of Keller Williams. She got my quadplex locked up at $450k and was able to get it dropped to $410k during due diligence.
Really appreciate the recommendation, Toby!
Post: Where do I find the data I need?
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- Votes 5
Quote from @Justin Moy:
Most of the information people are looking for when analyzing a market are found on public websites.
I like to use sites like:
bestplaces.net
Bureau of labor statistics
worldpopulationreview
macrotrends
And also commercial real estate investing sites. The big ones like CBRE and Berkadia typically have lots of local data on an area.
Hi Justin - This is a very helpful. I know what general area I want to invest in (greater Atlanta area), but need help narrowing it down to a specific neighborhood. Would you use the same tools for that? Thank you!
Post: Small multifamilies are scarce. Should I go smaller, bigger, or stay the course?
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I’m a first time investor looking to househack with a small multifamily (duplex, triplex), but they are scarce and competitive in my area. I’m not interested in renting out a room in my primary residence for safety and privacy. Should I go smaller (e.g., house with a mother-in-law suite) or bigger (e.g., small apartment complex)? Frankly I haven’t considered going bigger until now because I’m intimidated by the idea.
Post: Looking for an agent who specializes in small multi-family homes in ATL
- Posts 5
- Votes 5
Quote from @Michael Dumler:
@Elaine Raymond, the small multifamily space in and around the ATL area is unique, to say the least. First, inventory for 2-4 unit deals has been dreadful these past two-three years. Moreover, any solid small multifamily deal that does hit the market usually results in a bidding war amongst aggressive investors. If you're planning on financing via an FHA-insured loan, this will make acquiring small multifamily deals even more difficult. Depending on your budget as well, a lot of markets can be ruled out. Small multifamily deals that lie outside of the perimeter are often in B-/C+ class subdivisions. I've posted this ad nauseam on the BP forums, however, I would advise including single-family homes that have an in-law suite or separate basement entry in your search criteria. Needless to say, these specific properties can be great house hack deals if you source the in-law suite as an STR on Airbnb. There are other house hacking methods as well. For instance, I'm house-hacking my primary residence by renting the additional bedrooms. A simple, yet effective strategy to cover the majority of my mortgage. As an investor-focused agent, I work with house-hacking clients regularly. If you have any real estate-related or house-hacking questions feel free to reach me via cell or email (contact info is listed in my bio).
Very helpful! I am definitely open to single family homes with a separate entrance. I’m not interested in renting out a room (or more) in the house itself if I’m living there. Sounds like this might be a more effective approach for the area?
Post: Looking for an agent who specializes in small multi-family homes in ATL
- Posts 5
- Votes 5
I am an aspiring first-time home buyer looking to house hack with a duplex or triplex. I'm looking for an investor friendly agent who is familiar with multi-family deals in or just outside of the Atlanta area. I would especially appreciate recommendations from people who were happy with an agent they worked with on a similar deal.