All Forum Posts by: Lateefah Mathews

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!  

@Mike Wilcher Jr I'm glad you found the information helpful! I mentioned Newnan for its potential in the BRRRR or Fix and Flip strategy, among the other cities you mentioned. LaGrange will indeed offer low prices however on the sale side it's still rather weak and DOM is questionable there.

I'm assuming BRRRR or Fix and Flip is your investment strategy. Feel free to correct me if I'm wrong.

@Mike Wilcher Jr Peachtree Corners is indeed quite pricey, as @Jason Wray pointed out. When considering between Newnan and LaGrange, my choice would be Newnan due to its proximity to Atlanta. Currently, there's a high demand for rentals in the area with low vacancy rates. Home prices are still reasonable, and you can find a great fixer for a decent price.

However, if you are more familiar with Norcross or Doraville, I would recommend exploring these areas before venturing into unknown territories. Be sure to check your calculations and the like to ensure that these cities align with the strategy you have in mind.

@Edwin Ortiz I don't think you need to overly complicate the situation. It just might be best to communicate openly with your tenants.

Express your job offer and relocation plans. Let them know you're considering selling but would be open to keeping the current arrangement if they choose to renew or sign a 12 month lease((whichever works best for you). Keep it simple, honest, and give them ample time to make a decision. Hope this helps and best of luck with your relocation!

@Oliver Marson Your post is truly a pleasure to read; it flows like poetry. First, I want to echo what @Jaron Walling advised regarding utilizing BP's search and immersing yourself in the vast pool of knowledge here. You will learn about different creative strategies investors are using today, various property types, and current market trends (and, of course, much more). It's a bit of a rabbit hole, but carve out time to get educated and stay informed.

Also, networking and developing relationships with fellow investors, real estate professionals, contractors, and the like will help open doors to further opportunities and provide valuable support along your journey.

Lastly, but in my opinion, most importantly, is to develop a clear investment strategy. Define your goals and create a strategy that aligns with them. Know your budget and decide whether you will finance your deal or buy all cash. Having a plan and building your team will help you make much better decisions.

That's my two cents; you'll have to take the nose dive and understand that sometimes your first deal isn't going to be the best deal, but you will learn so much more from the experience!

@Amy Lemaistre 

I agree with @Cody Lekberg, I used to invest in Macon and found it to be a great choice for Fix and Flip, LTR, and MTR. The areas you choose to invest in, are of course very important. Augusta and Athens could be another excellent option for your budget as well. 

Best of luck with your first flip!

@Edward Acker I agree and thank you for the clarity. I indeed forgot to make it clear that the advice offered above is NOT Legal Advice and I Do Not have a legal background. It is purely a suggestion.