All Forum Posts by: Lateefah Mathews

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.

Hey @Rubin Sanders Welcome to BP! You absolutely can sell the land with a to-be-built home plan without incurring the construction fees. It's done all the time and even better when you market it and include the current plans and permits (assuming you have this in place). Your contractor should be able to assist with this...Very appealing for those homebuyers who are ready to finance new construction. Feel free to DM me to further explore, I'm more than happy to assist!

Hi Mohamed,

Welcome aboard and happy that you've joined the community!

@Kris B. A Series LLC is a complex entity and is only available in certain states. You should verify whether you can establish this type of LLC in Texas.

If you are seeking ultimate anonymity, the state where you domicile your corporation is crucial, as many states do not offer protections for its members or shareholders, which affects anonymity. I'm personally a fan of C-corporations, though they are also complicated. Many shy away from them because they do not want to deal with the extensive paper trail required to maintain separate tax filings for the business.

In short, for the type of protection you're looking for, Wyoming is currently at the top of the list. Nevada has become expensive and no longer offers the level of protection it once did to its owners. Delaware is next up to bat. Remember to file as a foreign corporation in any state where you plan to do business, especially once you start acquiring property, to protect your corporate veil.

Lastly, my Disclaimer: This is not legal advice. :)

Hey, @Robert William Welcome to the community! I'm here in Cobb County and more than happy to connect and share resources with you to help provide some guidance in your real estate journey.

Hey @Jesse Kassel It sounds like you're experiencing a bit of FOMO here, especially with the number of caveats with this property. How did you estimate the $25k for repairs? Without a professional inspection and a detailed quote from a contractor, that estimate could be far off once you get your hands dirty. Considering the potential for unexpected costs, especially with the unpermitted addition and the need for significant updates like roofing and windows, the profit margin seems tight.

IDK, the significant dip into your savings for a project with many unknowns could strain your safety net. Balancing eagerness with an assessment of risks and potential returns is key. It might be worth exploring other opportunities in the same neighborhood that offer better profit margins with less upfront risk.

Opting for a turn-key property might be a safer and more straightforward investment, especially if you're planning to hold for 5-10 years in an area that's already appreciating. With a turn-key, you're likely to have fewer outlays and potentially better cash flow from the start. Just my two cents.

Hey @Austin Berlick, I agree with Jason Sousa. Go there and see what the experience is for your tenants. Also, a 3-month try before you lease may be the issue, tenants are using it as an MTR, it gives them far too much wiggle room, and that short-term turnover can start hitting you in the pockets pretty hard...With that said some incentives you can offer are the first and last months rent-free for a 12-month lease. Or last month rent-free or even half off for a 6-month lease. You can also waive the application fee. Just make sure you are vetting your applicants appropriately!