All Forum Posts by: Matthew Nicklin

@Ethan Henning You know I am active in Cobb and Cherokee County. Always open to talking to others about deals in these areas. 

I just sent you a PM, feel free to reach out anytime. I live in Woodstock and own multiple rentals in Marietta. 

@Patrick Young If you are investing in condos you need to ensure you understand the condos finances, covenants, rules, and regulations. A lot of condominiums have rental restrictions. A lot of condos are run poorly and are mismanaged leading to high HOA dues or special assessments. It is important to request the HOA Financials, covenants, rules, and regulations in your due diligence period.

The 12% number you mention above is considered your cash on cash return. There are several factors to consider when purchasing a rental; Cap rate, cash on cash, potential for equity appreciation, etc. 

@Miles Robinson I use American Family for my Single Family rentals. They offer reasonable rates and seem to be highly rated. It is just like anything else I would recommend shopping around. What area are your rentals in? My firm does property management but we are only selectively adding new properties in our target market. 

@Julie Kern Awesome! I saw your post in the Atlanta REI Meetup group saying you were looking to go into Multi-family. Hope you find a nice 50+ unit deal and can share with the group.

@Shiri Manor Nisenbaum Sorry to hear this has happened to you. We have been in a similar situation. I just sent you a message about who we used and how they helped. Good luck! 

Have you considered going to any local meetups? I go to a few around the Atlanta area and there is always something to learn or hear about. I think your best bet would be keep reading biggerpockets and just take in as much information as you can. See what peaks your interest then develop a plan to make it happen. 

I have never had experience with that site. From what I understand if you were to sell that judgment you would get pennies on the dollar and it would probably not be worth all the hassle. It is a small amount which makes it a bit more difficult. You would be better off if you could find a collections attorney who would take it on a contingency. Basically meaning you would give them 50-60% of the amount collected. I would not advise spending anything additional as your chances of collecting are probably low. 

I would read your lease and see exactly what provisions you have. Also I would consult the Georgia Landlord Tenant Handbook which can be found here https://www.dca.ga.gov/sites/default/files/georgia...

Typically it is 30 day notice from the tenant, 60 day notice from the landlord. 

From pg 13 "a tenancy-at-will is created and the terms of the original lease still apply except the landlord can only terminate or change the terms with a sixty (60) day notice and the tenant can only terminate with a thirty (30) day notice."

@Emmanuel Magana Just start calling lenders/Community Banks and see what is out there. I called quite a few community banks to see what they offered. I ended up going with a smaller community bank that I have done business with in the past. They ended up being able to offer a normal conforming 30 year fixed loan with reasonable rates. 

In my search I did find a few other smaller local banks that would do commercial style loans that were amortized over 20 years and rate reset every 5 years. These seemed appealing due to their lower rates but I am interested in holding this property for awhile so wasn't too excited about the rate only being fixed for 5 years. These style loans have their place in the market and I could see them being useful for shorter term buy and holds.