All Forum Posts by: Matthew Nicklin

I have been on the sidelines watching Dean and Julie through this process. What an amazing journey it has been. I watched Dean share the set backs and now the huge wins. Keep up the great work you two, your an incredible duo! 

@Michael Acevedo I know multiple. I will PM you. 

Turn key companies are not that common in Atlanta, not like they are in some other markets(Kansas and Memphis for example). You have some bigger national guys like Roofstock etc. 

I think your best bet is to find a local agent and team that is familiar with working with Investors. 

@Claudia Canamas-Donnelly I would recommend joining a few of the local REIAs or meetup groups to network with people in person or on their online groups. Plenty of cash buyers and active investors in those groups. A few of the big ones

-Atlanta Real Estate Meetup(Facebook group and in person meetup group, no REIA association)

-Cherokee Real Estate Freedom((Facebook group and in person meetup group, no REIA association)

-Georgia REIA

-Atlanta REIA

-South Atlanta REIA

I always recommend clients look at sites like city-data or other sources that provide census data. For communities with HOAs you can pull some info from the MLS or your agent can. I always recommend if buying in a neighborhood with an HOA make sure you look at the financials, rules/regulations, and covenants so you understand the full picture.

I use BankSouth a lot for conventional loans. If your are looking for portfolio lenders/commercial lenders Quantum National Bank and Tandem Bank.

No doubt the Atlanta market is hot right now. Anything sub $300k is going with multiple offers. 

There are a ton of cash buyers out right now, so I am not surprised to hear you are missing out due to cash buyers. I am seeing some buyers on the conventional financing side waive appraisal/financing contingencies to be more competitive.

The Atlanta market as a whole is at 1.2 months of inventory, which is the lowest it has ever been. With some pockets being as low as 0.7 months of inventory. 

As others have said you have to be persistent but you also have to make a competitive offer. 

Brett, welcome to BiggerPockets! Can you tell us a little bit more about your current RE investment? What are your goals or what you are looking to do next? 

Kyle a lot of great comments here. I started in RE part time as an agent, so it is definitely possible. I think it is worth while for investors to get their RE licenses as it opens up their options and allows them more access to data.

As far as the Brokerage question goes. The most important thing to remember when interviewing Brokerages is that you are interviewing them, so many new agents treat it like a standard job interview and think they are interviewing for a job not a Brokerage to associate with. You should be up front with the managing Broker that you will just be part time and what your intentions are, that way everyone is on the same page. 

Make sure the managing Broker and you connect, you want this to be a lasting partnership. Make sure they or someone on the team will be able to provide you mentorship and share any connections they may have. I personally opted to go the smaller Brokerage route when I started off as I had a personal connection with the managing Broker of that firm. He took me under his wing until I had enough experience and was comfortable enough to open my own Brokerage. 

Todd sorry for the delayed response, I have been out of town and just saw your reply.

It all depends on the deal and what it is. If your looking for something more turn key Cash on Cash return is probably going to be somewhere around 5-8% in todays market. If you are doing a BRRRR or very heavy value add it can be much higher. I technically have some with infinite cash on cash return, if you look at it that way as they are BRRRRs I have pulled all of my cash out of. So you cant really calculate a cash on cash return on something you have $0 in.