All Forum Posts by: Elaunte Brown

@Ronald Stanley I am a investor agent that works with many investors like yourself and I can say that there is nothing wrong with going half and half with your contractor friend. However, for your first deal I would do the deal completely solo, create a LLC and simply have him be the contractor on the deal. It works better as you have complete control versus having to share the responsibility of choosing materials, colors, and overall project scope.Then on your second deal you guys will have a true working knowledge of how to work together you can decide if its best to create a company.

Also, I would advise to use hard money due to the reduction in risk which allows your money to stay liquid if you need to handle any unexpected issues that you weren't planning on. With your levels of cash and availability to cash it wouldn't put as much stress on the project beyond the profit. Yet even if you only make 10k due to taking 8 months to complete a project/sale the property vs the expected 2-3 months of rehab and , the interest payments would only hurt your profits. I preach hard money to my investors as a first option for deals. However, I wouldn't mind assisting you in finding a property and giving your tips to help you get started. DM me. Happy holidays.

Honestly its going to take time and building a lot of trust. I met an investor from  San Francisco, California  thru bigger pockets a year prior, but during that time we talked on multiple occasions discussing locations, levels of rehab, and overall getting to know each other. I would recommend finding a set of different locations to have them focus while also focusing on having contractors, property management, lenders that you truly trust of have done deals with to ensure the process goes smoothly. If you do them right they will be a client for life. Lastly you would probably want to have them come out here to see the area's. Mine bought her's first them came out here afterward and during her rehab. She's very happy with her home now and is currently using it as an Airbnb.

@JOEL SEQUEIRA I would say that if you are going to invest in a property as a flip or even a rental to consider some private money lenders as a opposed to conventional lending especially if your considering flipping.There is a large number of cash buyers and aggressive hedge funds in the market who pick up most of the best which is why so many people go the HML approach.Most sellers and wholesaler's your going to deal with are usually not going to give you much if any due diligence in addition to wanting to close within 7-14 days. Conventional lenders usually will take longer than necessary to get approval for a loan to the point where you could lose the deal completely due to a "kick out clause" which I've noticed many sellers starting to use.

Also for the REIA groups I would recommend going on Facebook and joining some of the sub groups for REI in Atlanta. Once you are added to the groups you will be able to see most of the groups meet almost weekly in the same places so once your know you can pretty much count on it happening on the same day and time whenever you want to go. If you want to connect further I would gladly assist you with getting added to these groups.

Not knowing your price range or exactly the cap rate your looking for would be a better way to determine which area would be best to invest in. Atlanta is a very tricky place to invest in as neighborhoods change quite drastically as opposed to a cities like Decatur or Marietta. I work with many investors and in regards to Atlanta, most don't invest in those area's do to the price as mentioned. Instead they invest in places like Grant Park,Kirkwood, East Atlanta Village, Capitol View, East Point, Hapeville, or Old Fourth Ward. They focus on these places due to the appreciation and low entry price where you can build equity. Look up the appreciation in these areas its steadily going up each year. One investor in particular bought a property in East Atlanta last year for 73k rented it out for a year and recently sold it at 125k at 1100 sq ft. 

Rebecca I work for a real estate investment firm called New Western Acquisitions, were I've helped investors locate and target areas to maximize their money doing flips. However, I have been working with a few clients looking at doing buy and holds as well. At your price point, East Point, College Park, and some parts of Grove Park are a good place to start. I'm saying this due to the developments that are coming to these areas and the continually appreciation that has been building over the past couple years. If you need some more help or want to talk more shoot me a direct message. I would love to help you out.

@Charisse Daving I just sold a town-home in Marietta ( East Cobb, Wheeler HS) at 115k that had a tenant in place paying $1250 monthly. However, I have been getting quite a few town homes in and around the Cobb area.  Like Erica said there are a lot of factors that will determine which deals will fit you. 

@King Stinson I work for an real estate firm that specializes in finding rentals for new and experienced investors. In fact, we just opened an office in riverdale just for that purpose. However, when finding rentals it all about the cap rate and your end strategy to determine if a property makes since to purchase. Do you know the area that you are looking to find a rental in? 

Alfonzo, 

I actually work with a firm here in Atlanta that focus only on investment properties for beginning and experienced investors. I can show you some places that will get you some great cap rates 10-12% while also being affordable with little to no work needing to be done. Like @ Tim Griffin mentioned with duplex's and SFH's you can build a solid portfolio of properties near the belt line where parks and the overall area is being renovated to a new market of renters. I am a licensed agent as well so I would be more than happy to sit down and talk with you.

My firm works with a huge base of investors in and outside of Atlanta that flips homes. I can complete understand the hesitation in choosing a contractor. I have used a few and its really a toss up for contractors. I can recommend one that has done work for some known celebrities. He averages 6-10 weeks on a flip.I have provided his instagram. 

Mike Wilson

Instagram: korlex_construction