All Forum Posts by: Matthew Nicklin

Have you tried smaller Community Banks? I have a few contacts I would be happy to share that work at smaller community banks that can probably help. Feel free to PM me. 

Hey Nik lets talk. I am a licensed GA Broker who is a qualifying Broker at my firm. We do Sales and Property management but we do not currently do community management. I have contacts at a few of the bigger community association management firms in Atlanta, so I think it would be good to network. 

Sounds like a great first house hack. You get to live in a great home with low payment and have the option to rent out the entire home down the road, all while locking in a low down payment and low interest rate. The Woodstock market is very stable with great schools. 

Why choose just one? I have found a lot more value out of free Real Estate Meetups. As Bill mentioned REIAs can be salesy at times, where most of the independent meetups are not.  I am not a member of any REIAs but I will occasionally attend one of their subtopic meetings if the topic interest me. They all will allow you to attend just certain meetings and pay for that meeting instead of joining, if that is something you want to do.  

I own 9 rentals and the secret is all cost control. Like others above have mentioned do not over rehab or spend too much. I have seen too many rental owners go in and dump money into a property to get an additional $25-$45 more a month. Most of the time tt doesn't make sense to spend $10k to get $25 more a month. You have to look at the cost and benefit to see if it is worth spending the money.

As other have said look at other rentals in your area. Do they have have laminate countertop? If so probably not worth spending the money on granite etc. Do they have LVP instead of tile, probably best to stick with LVP. 

There is a reason some people call lower cost materials rental grade. Keep the costs down, don't over spend.   

Whats your deductible? Top tier carrier? I always recommend people shop their insurance. 

Yep as others have stated bank statement is sufficient. It is what I use when I am not using my HELOC statement showing I have the available cash available as a line of credit. Also to note it looks like Schwab and some other Brokerages offer an instantly available proof of account balance, which you can self generate. Kind of a neat feature.

@Katie Pandolfo Yeah a lot of the meetups are still meeting up virtually right now. If you go on Facebook and search "Atlanta Real Estate Meetup" that is the biggest free Real Estate Meetup in Atlanta with about 1,600 members. They have a lot of valuable posts in the group and they do a zoom call once a month. I am hoping they go back to in person once all of this has passed.

You also have all the REIA's in Atlanta that are still meeting virtually. You can join the REIAs as a member to attend all of their meetings or just pay a small fee per webinar etc. They are all a bit different. The biggest REIAs in Atlanta are Georgia REIA, South Atlanta REIA, and the Atlanta REIA.

Welcome @Katie Pandolfo! I am also in Woodstock, GA. Are you entering the industry as an Agent, Investor, or what our your goals?

I am a Broker(Run a small Brokerage in Woodstock, GA that specializes in Sales and Property Management, with about 85% of our business being investor driven). I am also an investor with 7 properties currently, with an 8th one under contract. I have done everything from lending, to flips, to rentals, but prefer the rentals for all the tax advantages. 

Make sure you find a contractor who is open to working with a 203K lender too. Their draws can be a little bit more cumbersome so some contractors do not like working with them.