All Forum Posts by: Jailen Holt

Welcome to bigger pockets! How has the Hollywood, Florida market been for your investments?

You could accept the partial rent payment until Friday under the condition that the tenant includes a late fee.

Hello Eliot,

Are you still interested in the Stone Mountain area for investing? 

I've personally lived here my entire life. Your worry is a good one to have because in this particular part of Atlanta there are areas which can be very deceiving. On the other hand, there are also areas which are great for investing. 

If you have any questions especially those regarding particular neighborhoods, I would be more than happy to give you my opinion. Or even point you in the right direction depending on your investment criteria. 

Feel free to contact me any time.

I am a Real Estate Agent from Atlanta, living here my entire life. I would be more than happy to help any and all investors, especially out of state investors who may have questions about our market here in Atlanta. I know of plenty areas which are great for rentals, and others that I would never suggest buying into. Atlanta has plenty of areas that look good on paper for renting and rehabbing, but in actuality the demographics resemble Detroit. 

While on the other hand, their TONS of great areas waiting to be picked.

My business partner is a licensed contractor that currently does about 10 flips per year and also owns several rentals.

Feel free to reach out to me if you have any questions. I would love to be of some help.

I personally grew up in this part ofStone Mountain. And still have family and friends that live in Waters Edge. These are actually the better neighborhoods in the city. Like you said, the school system there is indeed average. But this doesn't seem to slow down families wanting to live there. I think the neighborhoods could be considered B-class neighborhoods. Rental to rates to purchase price might barely fall into the 1% rule though. 200k for a house that might rent for $1,000-$1,500. Due to these neighborhoods having HOAs, they are usually very well maintained. Most have amenities such as pools, tennis courts, lakes, basketball courts, etc. But depending on the HOA fees, they could eat up your cash flow.

To summarize, I'm not sure if investing here would be "investor friendly" unless you are able to find a great deal. Paying retail wouldn't be in your best interest.

I am a local real estate agent specializing in this area. Feel free to contact me if you have any questions.

Best of luck, Nithin!

I cant wait to be in your position one day, Chad

Thank you, this post has saved me so much time rather than browsing endlessly on the forums, I just constantly find myself referring back to this page. Thanks J

Have you tried attending any local Real Estate Investor meetings? Networking with as many people as possible can help catapult you in the right direction. You would be surprised at how many people out there that have a strong passion for real estate and would love to have someone under their wing. Find a few of these people and take them out to lunch or coffee.

Goodluck out there, Anthony!

You have the potential to atleast break even IF you found a rehabber who would be able to first give you more accurate estimate of rehab costs. But the numbers may or may not fit their criteria. Never know until you ask though.

Also have you atleast considered selling it using owner financing (probably to an investor)? This would continue to pay down your mortgage at their expense while they more than likely fix the property up over time. Not to mention some cash flow for yourself. Even if they move out they would have paid down some more of what you owe as well as potentially made some free renovations. Or if they stay long enough to pay you off completely, even better.

Best of luck, Marc!

I agree with everyone else. Their is a reason why most places require 3x rent. Rent is actually more than their combined income! Even with 10k in savings (which they would be pulling from every month to pay the difference in her 1583 monthly income) they would be bending over backwards to even put food on the table.