All Forum Posts by: Felicia Hamilton

I have 2 loans I’m considering.  One is A. commercial loan, 15% down, 15 year term, 5.5% interest rate - after year 7 you will need to “renew” the loan (not actually refinancing it).  It gives the bank an opportunity to adjust the rate.  I will get this all written out on Monday.  I’m relaying EXACTLY what the banker said to me.  

The other is B. 25% down, 30 year term, 4.99 interest rate. This will be a long term investment, primarily interested in cash flow as opposed to market value.  Both are smaller regional banks.  I feel most comfortable with the people of loan option B.  But they are both well known banks.

I’m buying duplexes.  Bank B is insisting that it’s 25% down (across all banks), Bank A figured it out and is saying they can do it for 15% down.  

I’m NOT interested in getting involved in any shady business!  Have you heard of option A type koans.

Any thoughts on this?

Ah, thanks.  Yes, that makes sense... I'm researching the codes and ordinances for the county now.

In the state of GA, are there any laws that govern if you can rent a house to multiple tenants that aren't related?  Specifically, I'm wanting to rent out bedrooms separately to students near a local university.  Each bedroom (student) has an independent lease and they share the common areas of the home.  

It seems odd that there would be rules/laws surrounding someone leasing property they own, but you never know. There isn't an HOA or neighborhood association - specifically inquiring about state laws. Thank you!

This is great, thank you for sharing.  Quick question, what did you find to be the most effective method of advertisement for the property?  Were your leases with the students?  or their parents?  Did you require the parents to be a guarantor for the lease?