All Forum Posts by: Kris Compton

It is a house that used to be a group home.  Next to a dental office and a small strip mall.

$49,000

LOCATION! LOCATION! LOCATION!

Historic Virginia Park/ New Center. Located in prominent commercial and residential historic district adjacent to Midtown, one mile north of the Cultural Center, and approximately three miles north of Downtown.

Zoned Commercial.

Excellent location just one house off Lakeshore Road. This 3 bedroom 2 1/2 bath ranch with attached garage and first floor laundry features a large open sunlit living and dining room with fireplace and cathedral ceiling. Kitchen with Thermador and Sub Zero appliances. Family Room with fireplace.  Newer roof, skylights and furnace. Needs updated kitchen and baths, and new flooring.

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I have the opportunity to buy a house from a homeowner:

ARV: $130k

repairs:  $10k

rents: $1100

I would like to offer $80k cash.  

She wants $100k, and is willing to owner finance to get a better price.  

I need help determining the terms that would make owner financing work for both of us.  What rate, down payment, and term.   What formula do you use?

Thanks in advance for any help

Thanks Jon! This property was offered from a wholesaler who wants to close quickly so I thought I would try to use private money and then refinance with a bank. Thanks, I need to do a little networking at my local REIA. All of my relatives are poor :)

I've used Lima One for rehabs but don't want to use them for a rental.

I am looking for a private lender in Atlanta to lend on an in town rental property. price $66,00 + $10,000 in repairs.

Rent is $800 per month; it is vacant right now.

It is a 3/1 near CDC in Decatur in the 30033 zip code.

You should start with the Atlanta Real Estate Investors Association. They have various subgroups and events throughout the year. You can go to the main meetings once per month and find groups in your geographic area and interest area too. Good Luck!!

http://atlantareia.com/