All Forum Posts by: Kelly Rambo

I agree with Patrick.  Currently considering some deals in Grove Park, though I haven't purchased anything yet.  Some blocks are seeing reno sooner than others, but I think it's a great area, so when it happens, it will take off.

Hi @Sharon Evans !  You said a lot without saying some things.  First, you said "your fiance" is ready to embark on "his" first F&F.  Then you switch to "we" when talking about the personal loan and repayment.  Not playing English teacher, however, if you are cautious, nervous and quietly resisting, I'd suggest you keep your money out of this deal.   This is a high risk/high reward venture and the flipping shows make it all seem so fun and easy.  

I would consider seeking other HMLs and properties that may reduce the cash you need to close.  I can't disagree with @Eric Adobo .  Plenty of money is lost in these deals.  

Now that we got the negative out of the way.  If you/your fiance are comfortable with the risk of a flip, I would say try to use your own money rather than overleveraging the property.  With such a high amount of loans against a property (100%), your margins may not be able to handle a price cut, if necessary.  

Best of luck and keep us posted!

Hi @Ahmad Kakar!  Welcome to our market!  As you search for an agent, in addition to being investor-friendly, you'll want to consider the geographic area as well.   There are lots of agents but many focus on a specific part of town or county.   There are a lot of hot areas right now, particularly intown Atlanta.  Let me know if I can be of any assistance.  Happy Hunting!

@Emily Turner  Since Athens is a college town, I'd seek out the buy and hold investors that do student rentals.  I believe that you will find investors that are willing to share their knowledge.  Best of luck to you!

@Ralph Miller - I would consider offering some compensation, not sure if I'd do half.  I would ask them to provide the previous bill then make a determination on the amount, particularly if they are good residents that you want to keep.  

@Melvin Hazelton - If you have a Realtor that is going to list it once complete, you may ask them.  Best of luck on your flip!

@Haley Brown  - I agree with Ashish.  Taking the first step to investigate something is usually the hardest part, so good job on that.  Ask plenty of questions, even those that may seem silly.  I also believe there are lots of videos on YouTube, some selling products, but many just offering guidance on things that they have tried and worked or didn't work.  

I would say resist the urge to pay for a coach, at least until you know what you need from a coach.  Often people think they are getting one thing, but what they actually get is something totally different.  Not bad, but just not aligned with one's expectations.  

I believe one good place to start is with your goal.  Is your goal to add a stream of income or replace a full time 9-5 gig, to save a certain amount of money, retire early, etc.  Whatever the goal, have that in mind as you pursue real estate.  That IMHO helps keep one focused the why you are doing what you are doing.  

Best of luck to you.  

Let me first say, I'm known to be frugal. That said, I would keep driving the minivan.  Hopefully, when you go show a property you've already developed some relationship with the client and they are more interested in your service than your wheels.  If you get a property under contract on the same day as you get your license, you are still likely looking at 20-30 days to close (pay day).  I would hate to increase my expenses and have to start wearing L'eau de Desperation cologne.     Acting desperate is more noticeable than a car.  

Also, bear in mind, unless you're going to brokerage as an employee, you may be paying for your marketing materials, MLS fees, CRMs, etc.

Best of luck!

Hi Manbir,

IMHO, yes, it is really booming here. Atlanta has a lot going for it, in spite of our traffic woes. With the Superbowl, a really hot MLS team (Atlanta United), the Atlanta Beltline and major corporations, it is really a great place. As with any location, some areas can expect higher rents than others but for the most part, still strong. If you're looking to expand your portfolio, there is always room for good, honest and fair landlords looking to provide quality housing. Best of luck!

Good question.  I was at the Fulton County auction yesterday and watched a couple of groups of people that appeared to be working together.  However, if they use multiple company names it may be a lot to trace.