All Forum Posts by: Ethan Atkinson

National Bank of Georgia.  They should be near you in Dahlonega

Hey @Brad E. did you find anyone?  Call Chad Brown at the Tax Shelter. I am not allowed to enter his phone number but can send you a pm

Angel Oak has good permanent and hard money for investors. National Bank of Georgia, Synovus banks anywhere are usually good.  Reach out to the local smaller banks.  If you have less than 10 you should look at the normal 15-30 year fannie mae regular investor loans.  They are permanent and don't have to re-cast or refi in 3-5 years. Rates are really good right now. 

There are so many newly licensed agents that this might work for. I actually did this as an agent when I got first licensed in 2009 because so many buyers changed to tenants wanting to rent the houses our company had listed for sale. Then it became soooo much work. The tenants want to see lots of houses just like a home buyer but these were all only listed on the MLS. Never did any by owner because that would open up even more negotiating and uncertainty for the agent. I would have shown by owner stuff if the tenant paid me a fee up front. How much would any college kids even pay for that. Why would they really need help to find these homes too? College kids have more free time than anyone I know, and whomever is looking the agent or tenant, would have to find these potential by owner deals through Craigslist and the rental sites assuming there weren't already enough on the MLS. On the one side of having a real estate agent which also means their broker on your side would be far more protection for you if the owner allows the GA Assoc of Realtor lease documents. It has great protection for both sides actually. As long as the owner isn't stubborn and doesn't want to just use his 2 page lease. I could go on and on here but maybe you get the gist. This could be great as a small side gig for you while in college. Find the new or hungry agents and they might help. BTW is this Kennesaw or Ga State area?

Sounds like a pretty nice property now! What rent are you able to get now and how much is your total Invesment cost after rehab. I'd love to hear about that too. Now you've just got to be even more selective with prospective tenants.

@Shane Row - I have done them in Winder and Athens area, and can help you in Atlanta. Just want to make sure you know this is for your own personal residence only. You can then turn it into an investment, but you can only have one FHA loan under your name. If the plan is to just find a great house that needs a bunch of work, that's what the 203k is for. It is the easiest if you only have a small down payment. Also keep in mind you need the 3.5% down for the total amount of the loan, not just the purchase price. Feel free to PM me or call me.

Now it's time to learn how to generate leads! And negotiate the best deals for you and your clients. Good work.

First talk to @Azeez K. who is great for finding Atlanta area investment properties and he knows who to help manage them.  

A second company / guy You should look up is Chris Littleton.  He is in the Ptree City / Fayette / All over Atlanta area.  He has helped plenty of overseas investors buy, rehab, and manage properties.  Solutions Realty Network.

Does it have to be Atlanta, Atlanta or nearby?

I am going to be assuming lots of things here, but it sounds like this is a pretty good deal.  Is the downpayment 20% - or $50k?  And total purchase price is $250k for a 9-unit!!   There are deals like that around me sometimes and they are usually in C or worse locations, and often the property can never be turned around because of the neighborhood situations.  It sounds good if that's the deal price at only $27,777 per unit, but in a C+ or trending up area.  That is where the boots on the ground, or someone representing you would help out.  As an agent no one can steer you into one neighborhood or another, and buyer beware is always the case in every transaction, but I hope that @Melissa N. did some crime stats research, or even called the local PD and asked questions.  Maybe you have driven the area yourself, or maybe you are ok with the price because the returns are higher double digits.  All of that matters to this deal especially when an agent is not actually representing the buyer.