All Forum Posts by: Lateefah Mathews

@Jordan A. Absolutely, Statesboro is not a bad place to start! I say, get solid with your strategy (Buy/Hold or Fix/Flip) then focus on the cities that align with that strategy and budget.

 @Jordan A. The opportunities you seek are right in your backyard. Yes, it's okay to invest anywhere as long as you have a strong team, specifically your core 4. However, if you're looking for a strong market with lower numbers, you do not have to leave the state of Georgia to find them.

Areas such as Athens, Augusta, Statesboro, as well as Macon, to name a few, provide great opportunities for flipping and even higher potential for buy-and-hold strategies since all four are college towns. Additionally, there are small pockets and areas in Gwinnett that offer some flexibility for novice investors to enter the fix-and-flip game at lower prices with good profit potential.

If you're interested in exploring these options further or need assistance in evaluating potential deals, feel free to DM me. Wishing you the best of luck! 

Quote from @Michael Dumler:

@Bria Bacon, this is all nuanced. I could be mistaken, but this will likely not meet FHA underwriting if two separate addresses exist. Both properties would need to be on one parcel under one address. Moreover, I would assume there would be some underwriting interference if the properties are converted from SFHs back to duplexes. What does the tax ID indicate? What is the lot zoned as?

I completely agree! While the FHA 203k does permit renovations, converting from a single-family residence back to a duplex might encounter some zoning and occupancy issues, especially with two properties sharing the same lot but having different addresses. Also, any structural alterations, such as demolishing or adding walls, must strictly adhere to their guidelines, which I assume you'll need to consider for your conversion project.

@Evelin Negrete Welcome to the BP family! BiggerPockets is an excellent platform for networking and learning about real estate investing. I would also suggest the local GAREIA (Georgia Real Estate Investors Association); they host in-person meetups and cater to both novice and seasoned investors. Feel free to DM me if you'd like more suggestions or guidance. Best of luck on your journey!

Hey @Jedd Austin I know of a private lender referral that lends in Atlanta, if you like feel free to DM me for info. Look forward to connecting!

Hi @Steven Brown Welcome to BP, and congratulations on embarking on your second rental property venture! While I'm somewhat biased towards Atlanta, Augusta is a good choice, especially with its promising conditions for mid-term rentals and STRs.

As for areas, I assited my cousin with obtaining her LTR by Ft. Eisenhower and it was very successful, however for MTR I would suggest areas like Summer Hill and Downtown area.They provide central access to key Augusta attractions and also come with a lower price point (Augusta as a whole). This means you can enjoy the perks of lower taxes while potentially matching the revenue of an Atlanta MTR. As always, assess your budget for travel and maintenance. If you plan to manage it yourself, ensure you have a team in place so that you're not traveling two hours for every minor issue that arises.

Wishing you much success! Feel free to connect or DM for any additional questions. 
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Hi, @Wencheur Antoin Welcome aboard! I'm an Atlanta agent and would love to connect, and give you a grand tour :) 

@Dashon English welcome to Bigger Pockets! 

While I'm not a legal expert here, I couldn't help but notice your enthusiasm in your post. It seems like you're reaching out to the BP community for assistance in securing business credit lines to support your exciting project, rather than solely relying on your reserves. Am I on the right track here?

Just a friendly piece of advice, allthough your LLC has some history, aligning it with what most creditors prefer is key. Depending on the funding amount you're after, teaming up with someone well-versed in working with aged LLCs with no credit or credit profile could make a significant difference with the credit acquisition timing. Just be prepared to personally guarantee a chunk of the new credit, including potential credit pulls and hard inquiries.

I've heard of creditors offering 0% interest and no hard pulls – it's an option, but again, working with someone experienced in this field is crucial, and sometimes a little give-and-take can lead to substantial gains. Wishing you the best of luck!

@Shawndra Brown Hey there! Atlanta is a promising market compared to the high costs in California. I echo the advice from @Peter Dorinsky and emphasize the importance of leveraging BP to refine your investment strategy as well as build your team. 

Building a strong professional team is crucial when investing out of state. It not only alleviates potential challenges but also ensures a smoother and less daunting process.

Considering your investing capital and funding sources is also key. Atlanta offers more value for your money for sure and will help leverage your finances in comparison to California. If you have any specific questions, feel free to DM me! 

@Robin Roundtree While I'm unfamiliar with the Idaho market, I'm familiar with Georgia, therefore I'm a bit biased. However, If the idea of selling your current home and making a move to Atlanta or Fayetteville, NC is on the table, have you considered the house hacking strategy? 

You will find abundant information here on BP by typing house hacking into the search bar. 

In short, House hacking involves living in one unit of an SFR or Multi-unit property while renting out the other. By doing this, you can build equity in your new property while someone else pays the majority of the mortgage through rental income. Unfortunately, you will have to bite the bullet and deal with current interest rates should you decide to finance.

This strategy, however, should soften the blow, allowing your move to be a smart financial step and add a personal touch to your investment journey. It offers you a home and a strategy to grow your investment portfolio. A basic win-win situation!