All Forum Posts by: Jamel JR Smith

I am looking for a Multi-Family Property with Good ROI, HI-Occupancy, and Value-Add potential in the Atlanta Metro Area or Some parts of Florida for a buyer that I am working with. Prefers Min. 12-20 units.

7mil budget. Ready to GO ASAP.  A+B neighborhoods only.

A lot of the responses here are spot on and some are not worth reading a second time.  The biggest thing to consider is: if you sell your house, will you also live in the next one? You need a place to sleep and call home.  

Consider the options of a Heloc (depending on the interest rate) and a Cash-out refi.  Stay where you are.  If your house appreciated over 100k in 4 years, then your in a great area.  Use the equity to cover your down payment and rehab on 2 other properties.  When you complete the other two properties: rent them out and refinance them.  When you refinance, you can pull out the new increased equity (due to the rehab) and buy another set of properties.  Yes, you will have mortgages on these properties but any true investor is not as concerned about carrying a mortgage as they are about the returns the property will bring.  

Follow the BRRRR process that is widely discussed here on BP. It makes sense and keeps your money in your pocket.

As far as your house is concerned: Since you are currently single without children.....If you have additional bedrooms.....Consider House-hacking and rent out the additional rooms. That may help cover your current mortgage payment, the HELOC and still put cash in your pocket.

Last ditch: if you happen to have somewhere else to live: If your "Investment home" is close or near to an airport (10-15 mins) consider: Renting Beds to Flight Attendants.  They need "crash-pads" when they are in their (domicile) city and will typically not be there because they are flying all the time.  so your place wont get get abused and beat up.  That is Renting on Steroids if you can get that going.  

Message or call if you would like some advice on either option mentioned.

Definitely stay in Real Estate. That's for sure. Consider buying a SFR in a good area that you can run as an AIRBNB (constant returns while building equity). Also, start looking for land. There are many areas in the Atlanta Metro and surrounding areas that land is still cheap. The areas haven't been developed yet. Put some money in and hold the land for a couple of years. That will bring a good return for sure. Flips are slowing a little but in the right area, that can work also.

Give me a call if you would like to talk and weigh some options. I'm in Atlanta area as well.

J R Smith, EXP Realty Associate Broker, Our Life Properties LLC., 770 255-9773

Many agents did not and still don't understand the difference when it comes to representing a Seller as a Sellers agent.  If you don't get a signed contract from the buyer stating that you are representing them and their interests in purchasing (typically with an agreed amount/percentage of compensation) then you are representing whoever the seller is of said property that the buyer is purchasing.  

Without an agreement: the Buyer is your customer and the seller becomes your client because they are the one paying the commission.  With an agreement: the Buyer is your client and the seller is the client of the listing agent , hence they do not technically owe you a commission.   

It is and always has been pretty clear by law and NAR regulations. Lots of agents however have misunderstood the "Law of Agency" and disclosure which is why this problem exists now.

For those that have always represented properly: there will be no issues because they will continue to follow what they should've learned when taking their classes, passing state exams, and in their "30-day orientation".

The others: will fall off from confusion.

Just Saying...............

 "Caved"?  They ran up the mountain and just jumped down. LOL

BP Family, I am looking for a Multi Family property (min 20 units) with Hi Occupancy and a good ROI. I have a buyer looking to spend up to $7mil if the deal is right. Must be in an A/B area (nothing less), must have Rent Roll (current), low vacancy.

Prefers the units to be updated already but if there is room to increase rents thru renovations. my buyer is open.

Cap Rate should match building and rents.

Message me with any info that you have.  On or Off Market.

Prefer Atlanta and surrounding areas but open to other states as well (FL, TN,, NC)

Jamel Smith

I love your response. It is so accurate and on-point almost as if no one knows how buyer agency actually began. Also, that when it first became a "thing" you had to take a certification class to become a Certified Buyers Agent thru NAR. This is really just defining who is actually representing who and should you be representing a buyer you have to fully disclose it (and quite possibly still write your commission into the deal as was done before anyhow). It also still ultimately doesn't change the fact that the list price is only higher because the commission is included in it and the buyer is realistically paying for it (over 30 years) anyhow although it reflects on the sellers side of the CD.

 Wholesaling can be pretty tricky depending on your state but the process is the same.  I would be more than willing to help and mentor you thru your first deal and more.  Reach out when you can.

Hi Khyati.  I can help give you some guidance and assistance.  Navigating and knowing when you have a good deal can sometimes be hard.  Give me a call when you would like some info and I will walk you through it.