All Forum Posts by: Account Closed

@Joshua Feit Everything is relative to the property so $25k could be a good investment if you're looking for a rental property.  When getting a house at a good price, the wholesaler will likely want you to pay double closing fees.  As mentioned by @Heather W. , definitely go through a lawyer's office (my company has 2 that are real estate experts and I can refer them to you in a PM as its borderline soliciting) to cover your purchase if nothing else.  Also see what kinds of deeds were given on the house's previous transactions as a special warranty deed can make you fail to see things such as unpaid back taxes on the house (which is a definite risk on a $25k deal).  Once again, any proper real estate attorney should track miscellaneous items like that down for you.

@Koob Moua Monroe is more for people who are looking to purchase a house unfortunately.  If you are looking for a rental property that you could get to easily from Monroe, I would recommend Stone Mountain.  Hwy 78 takes you directly to this area that is gaining popularity with my investors.

@Barrington Ferguson Jr Every deal that comes across my desk in Sandy Springs sells within an hour, given that the property is researched by the acquisition agents here and deemed to be in a growing part of town.  Be careful when looking at similarly priced homes across from each other on major streets like Mt. Vernon!  One side of the street could be safe and then a mile down the street in the opposite direction could lead you to a location that you do not want to invest in.

@Matt Stambaugh @Jackie Garabedian @Kabir B. @Stan Butler @Jeremy Dyer @J Scott I have found that hard money financing is doable on many investment properties. In fact, it helped so many of my buyers that I became a loan officer myself!  Unfortunately, a lot of times the processing of the paperwork by offices in the City of Atlanta is very slow because of the lack of processing power at the courthouse.  I have seen many a deal fall by the wayside when two different buyers, mortgage vendors, and lawyers' offices are trying to get their paperwork together and sometimes they get "lost in the shuffle".  I have some recommendations for lawyers in the area that specialize in real estate so if you want them feel free to PM me.

@Simon Campbell Thank you for that foreclosure information. I found it very surprising and interesting as well as a positive for the Atlanta area!

@Teresa Keith With the beltline being reconstructed as mentioned by @Kevin Polite its hard to go wrong with a location close to it.  The trend developing around the beltline is positive for investors and is great to see as an Atlanta native.  While the development is a work in progress, I have found that renting Section 8 housing is a successful investment because the tenants tend to treat the houses with respect (because they aren't allowed back into the program if they fail to) and the government assists in the renovation and 85-90% of the rent payment.  I have seen many hopeful investors buying these houses but do your research on the homes and growth of surrounding areas before you make a decision.

@Michaela G. Thanks for the post! As a current college student at UGA, its always good to see a fellow student already making a difference in Atlanta.  Its amazing to think that a college thesis started this entire project!  I will continue to look for more lots in this area.

@Tranice Davis Welcome to BiggerPockets! You have already found the best resource available to you online for real estate investing and its right here! I suggest typing "Atlanta" or whichever suburb you are interested in (its good to find a neighborhood that's convenient to you so that you can monitor your investment) in the search box and seeing what comes up. I would also suggest going to REI events here and the best place to start for that is joining this website http://www.meetup.com/AtlantaREIA/. Its a great place to meet people with experience in the business. As for what specific area to aim for when starting out, it depends on how quickly you want your investment returned and which neighborhoods you are interested in. If you can clarify that information for me I would be happy to help!

Hello Nils,

My company, New Western Acquisitions, does a lot of business buying and selling distressed single-family homes in the metro Atlanta area. We do about 20 deals a month and we're looking for new investors to add to our expanding network, so please contact me if you're interested in doing business together.

http://www.meetup.com/AtlantaREIA/ This is a good source to find many of the REIA events as mentioned above. Meetup.com has quite a few groups that are interested in Investment Real Estate.