All Forum Posts by: Franky Davis

Hello fellow Georgia folks! I just wanted to post here in case any of you are doing deals down in South Georgia (Valdosta area). My wife and I are ready to put some money down there and would love to work with some wholesalers or flippers to help us with our next buy and hold! Good luck to all you guys.

@Sam Mitchell I came across this thread and am also very interested in networking with you guys. I am an orthopedic surgery resident in Chattanooga but will be consolidating funds after training and investing in this surrounding area. It will be a few years before that is in place but I’d love to connect. Will you fellas shoot me a pm if you’re interested in talking or grabbing coffee. Thanks.

@Alexander T Nguyen Congrats! I just purchased my first duplex (3 bed/3.5 bath) about the same distance from a university and have very much enjoyed it. Agreed with all the posts above. Definitely create a relationship with the school and their liaisons. Also, if you have incoming students, do your best to create incentives for them to sign multiple year leases. This can minimize your vacancy over the course of the 4 years they may be enrolled. I don’t know much about the air bnb thing but it sounds appealing if executed well. I’d love to connect when you get down this way! We are in Chattanooga, TN but have invested in South Georgia so are often coming through the Atlanta area.

@Mitch Messer I would also love that connection if possible. Not to hijack the thread at all, but I purchased a duplex using a local bank with good low money down terms and would like to refinance into a more traditional situation. I look forward to hearing back.

@Stephanie Parrish welcome! Chattanooga is such a great area. My wife and I are here for residency for 5 years but have really loved it. We recently purchased a duplex in South Georgia (where we will eventually settle). But, I will definitely plan on doing some investing in this area in the future. I sent you a colleague request. I look forward to hearing back!

Edmund......well done brother! It takes action to make progress for sure. I'm very new to the real estate game as well but would love to discuss. My wife and I recently made a purchase of a duplex out of state. But, I'm located in Chattanooga and would like to get coffee to talk or just network on here. I look forward to hearing back. Have a good one.

Nice work Allison! Tough to compete in this market but you're doing it. Shoot me a message if you'd like to partner on deals in the future. We just closed on our first out of state Duplex but I'd love to do some more work here locally. Well done!

I hear that. I guess I just need to do a better job with my search. I’m nervous about taking on a rehab so was hoping for turnkey ish for my first deal or two. That’s gonna make it hard to cash flow with no money down. At least that’s what my provisional numbers have shown.

Hello all,

I've posted before regarding my attempts at dipping my toes in the real estate investing pool. A quick background...I'm a 3rd year orthopedic surgery resident and have signed a contract with a hospital in South Georgia where my wife and I plan to set up our life after I complete my training. I have been obsessive about reading/listening to books/podcasts regarding the topic of real estate investing. My niche interests include SFH residential and small multifamily. However, I would love to branch into larger multifamily once my medical school contacts/residency contacts are all out and ready to invest together. Anyway, I have recently secured some zero money down financing from local banks in south Georgia that are willing to lend me the money based on my current debt/income ratio and my future contract. This has opened the door for two single family investments valued at $100k (6% rate with a 20-25 year am and a 60 month balloon). I also have access to a commercial lender who has agreed to a slightly larger number depending on the deal at 5.75% and a 25 year am. I am more than excited about the potential here. However, I am having some difficulty making the numbers work from a cash flow standpoint initially due to the terms of these loans. Would it be possible to essentially BRRRR with these initial loans and refinance into a traditional 30 year am on the single family homes that would bring my monthly payment down after purchase price and rehab? I am open to ideas. I am also very much open to making contacts with realtors in the South Georgia area who are willing to get after it. I am a big fan of small town life. However, sometimes things happen quite a bit slower than I would like. Thanks and I look forward to hearing back from everyone!

- Franky

Hey Adam! Long time since your post. Let me know if you're still active and involved in REI. I'll be moving back down to Moultrie, GA in several years and am actually looking to get involved in the investment scene as soon as I can. Please reach out to me if you would like to discuss things. Have a good one!