All Forum Posts by: Lateefah Mathews

Hey @Nestor Hernandez Welcome to BP! Good luck on your investment journey!

Hi @Mathias Garrison I'd be more than happy to recommend a few contractors. Feel free to DM me for the information! 

@Xin-Ran Jiang  Hey! So, one way to gauge how much you can spend is the amount of cash you have on hand. For instance, if you've determined that your max down payment ranges from 3.5% to 4%, ask yourself: do you have the 4% for the down payment plus an additional 3-4% for closing costs (Yes, be prepared to pay the closing cost for the acquisition of your properties) on a $1.3M property, at your disposal?

If the answer's a no, then keep dialing back the price until you hit that sweet spot - ie. the amount you are comfortably able to afford. After that, schedule conversations with several lenders, coming to the table already knowing your price ceiling.

Hi @Joy Christina, I am working with a few buyers seeking Quads and Tri's. I would be happy to present your property to them. Feel free to DM the information if it is still available. TY! 

Hey @Josh S.

If I'm not mistaken did you imply you were Pre-qualified for 1M, FHA? If that's the case I'm with @Nicholas L. The most ideal way for you to utilize this funding and probably the safest way, would be to House Hack. If you are willing to move to any other state then you probably will have to get qualified in that state however with FHA you have to occupy the home for at least 1 year even if you're using it for a multi-fam (which I recommend). That's enough time to get your feet wet as an investor then invest elsewhere if need be...But I'm with House Hack all day even if it's Cali!

@Nicholas L.

Hi @Paul Pratt I ran into a similar situation previously and I don't know a specific company but you can start by researching the following. It would be helpful if your client already has their plan for property remediation lined up. 

For your fixer needing conditional coverage post-close:

1. Specialty Insurers: High-risk flexibility.
2. Surplus Line Insurers: Non-standard risks.
3. FAIR Plans: State-mandated option(last resort)

Hi @Yair Zarmon Welcome to BP! You're on a promising path with a good strategy and substantial resources for your down payment. One key consideration is the market you're planning to invest in. Have you decided which market you would like to start your investment journey?

As for your strategy, I'm in agreeance with Samuel Diouf, start with turn key. Specifically with a turnkey triplex or quad, using it for STR or MTR. This approach will cover your mortgage and still cash flow, especially as current interest rates, expected to decline, may not offer immediate cash flow year one for LTR's. With your seed money, starting with multiple units right off the bat could leverage your entry into real estate investment and rapidly scale your portfolio to help you replace your 9-5.

Hey @Jihan Lee, Welcome aboard! If you're looking to invest OOS you should check out this Bigger Pocket Blog here: 
Core 4 Members of a Profitable Long-Distance Real Estate Investing Team (biggerpockets.com)
explaining what's needed and how to build your Big Four team so you will have boots on the ground ready to move full speed ahead when you're ready to pull the trigger. Should you decide on Atlanta, I'll be happy to assist. Good luck! 

Welcome to the community Robert! 

House hacking via multifamily will for sure, offer the experience you need to get started. Good luck! 

Hi @Gregory Colton There are bubbling communities all over Atlanta both South, East and West.I concur with Jay Thomas regarding the job market in North Atlanta. However, the choice of location significantly depends on your investment strategy. If you're considering flips, South Atlanta might present a tighter profit margin due to its current market dynamics. Yet, if you're looking to buy and hold, especially STR or MTR, South Atlanta offers its advantages. Its proximity to key transportation hubs, the Airport, and Tyler Perry Studios, along with other amenities, makes it an attractive area for this investment strategy.

If you're leaning towards STR or MTR, you can consider areas like East Point or College Park. These cities are not only close to the airport but also benefit from ongoing development projects and a growing demand for rental accommodations. If you haven't already, get clear on your investment strategy and niche. Once you have a firm grasp of your goals, you'll be better positioned to make informed decisions regarding the location of your investment properties.