All Forum Posts by: Ethan Atkinson

Check with John Adams - Money99.com. The famous John Adams. He is doing deals down there a bunch. 

You can finance this but would be an investment property according to the lender and would need likely 20% Down, and I have one bank that has even talked about 10% down.  The rent-to-own contracts don't even exist with the Georgia Assoc of Realtors.  The beter idea is a "Lease" and separately an "Option to Purchase."  Better for all parties and you can stipulate the tenant does all repairs.  Let us know what happens. 

@Kristina Modares - Have you seen the "cracked/missing part?"  Is this just a concrete block wall around the crawl space?  If so that's not a major problem.  Likely not a major problem anyways.  Doom and gloom with talk about foundation and structure, but usually an easy fix. Although yes, it could be worse. Get some quotes from a few people on repair, including just an insured handyman or carpenter type person who can likely fix it.   Also - go ahead and get the tenants going soon.  Hopefully in your lease you have a clause with 60 day notice for you or them to move out.  If they didn't pay the mortgage how are they going to continue to pay you over time and on time? 

Come down to Atlanta - Look for @Azeez K. and he can find some great property for you.  

Section 8 isn't usually known as the safe route, but the route for better than average returns if you purchase right.  The higher the return usually means, possibly a less safe investment, hence the need for a higher return. Sometimes they can be more work, but if you do it right, you almost can't become a bad landlord because the property has to be in great working order from the closet door closing correctly to the bathroom outlets working perfect with the GFCI, to the important things like no roof leaks.  

I have a good referral for you but just have to find his phone number.  He can point you to some good areas. 

If you need one more great agent for commercial or residential deals to help source for your clients keep my name as a good referral for the metro Atlanta to Athens, Georgia area. I live in Athens and work all over and have access to three separate MLS's. I have some great properties coming up soon in Athens, GA. Some even in the Downtown market with really great restaurants and shopping directly next to the University of Georgia.

@Wendy Lovejoy - I am in no way trying to make a joke here, but I have been driving for dollars every time I can.  I almost always take the long way, cutting through neighborhoods both good and bad.  Picked up some great leads that way. I have an investor I work with that also has spent a bunch of money on software that gives him leads to vacant properties.  Not sure if it works great, but less driving happens for him than me.  Check out listsource.com  

I am not an attorney so I will only give a brief explanation of what one attorney told me about assigning contracts in Georgia.  It is legal.  If you are the investor and have a property under contract this pertains to you.  If you are the agent listing the property direct for seller, this may not pertain at all.  Consider yourself the investor in this situation -- You do have to disclose, you have to disclose to seller that you might market the property and assign your rights to purchase to another party.  You should quote the georgia code that shows this.  Disclose and make sure they know, and this puts you in the best position should things go south.  Contact me if you need to know the exact location.  I dont have the exact code in front of me, as I usually just copy and paste from a file I have saved.