All Forum Posts by: Matthew Nicklin

So I was actually just reading this same exact article. Does this match up with what you all are seeing? I have been monitoring Notice of Defaults in Cobb and Cherokee County for awhile. I haven't really seen this drastic up tick in those counties. Please also note this is talking about foreclosure starts meaning a notice of default has been issued but may not result in an actual foreclosure on the court house steps.

I agree with what @Eamonn McElroy said. Also make sure you have a lease or something written in place so everyone understands the terms. Do you have any major concerns?

Sounds like a great way to house hack! 

What do you mean by crashpad? Basically a unit just for pilots/flight attendants? I dont think we have enough details to help you. Would you be buying this property and leasing it out to pilots/flight attendants? Or doing a master lease? 

@Jared Welch I will be back in town Tuesday. Its a busy week for me as I am playing catch up after being out of town, but let me know what works for you and I will try to make time to meet. Feel free to send me a PM or give me a call anytime. 

I am out of town right now but will be back mid week. Would be open to meeting for lunch or dinner. I am a Investor and Broker on the residential side.

@David Muscovalley Yep only you can know if you want to take that risk. Everyone and every investor has their own risk tolerance. Just keep in mind timeline and repayment strategy. Are you going to use a HELOC which is a line of credit and most likely is variable rate(May have an option to go fixed at a higher rate) or are you going to take out a new 1st with cash out to go fixed original but not have the line option.

I am often reminded of Sam Zell's great quote "If you've got a big downside and a small upside, run the other way. If you've got a big upside and a small downside, do the deal. Always make sure you're getting paid for the risk you take, and never risk what you cannot afford to lose. Keep it simple. A scenario that takes four steps instead of one means there are three additional opportunities to fail." -Sam Zell 

@Renaldo Russell Welcome! Have you been to any local meetups? I would recommend the Atlanta REI Meetup. They are held the last Wednesday of the month in Buckhead. Doesnt look like the one for August has been posted yet but here is the link for the previous meeting. https://www.biggerpockets.com/forums/521/topics/725248-july-2019-atlanta-rei-meetup 

@LaRhonda M Go to a few GA REIA meetings as mentioned, in my opinion the sub groups are more valuable than the main meeting. Also come to the Atlanta REI Meetup that happens once a month, it is held the last Wednesday of every month at the Ivy in Buckhead. It is an even better value than the REIA's in my opinion as it is completely free. They have over 1000 members on the facebook page and typically have 100+ members show up in person. Always great speakers and incredible networking opportunities. Here is the link for this months meetup https://www.biggerpockets.com/forums/521/topics/725248-july-2019-atlanta-rei-meetup 

@Account Closed we can talk more offline. I have a few I can send your way. Terms are not as good as conventional financing but it can often times be better than waiting 6 months. 

@Account Closed Typically 80% Loan to costs(Original purchase price not current appraised value) so you would only be able to get 80% of $150k in your example($120K cash out). There are a few other options to get around seasoning requirements but they are not conventional Fannie Mae loans, mostly portfolio lenders(Lenders who hold their own notes and do not sell them on the secondary market).