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All Forum Posts by: Niyi Adewole

Niyi Adewole has started 46 posts and replied 205 times.

Post: Suggestions for investing in Georgia outside of Metro Atlanta

Niyi Adewole
Posted
  • Real Estate Agent
  • Atlanta GA & Orlando, FL
  • Posts 211
  • Votes 99
Quote from @Abdul M.:

Thanks Niyi! I may take a look at those areas around the airport, I hadn’t considered them, as well as trying the short term route.


 No problem. Feel free to reach out if you want to discuss further. I actively invest in those areas mentioned 

Post: Are FHAs still feasible in todays ATL market?

Niyi Adewole
Posted
  • Real Estate Agent
  • Atlanta GA & Orlando, FL
  • Posts 211
  • Votes 99

HI @Ajibola Talabi

I am an investor friendly realtor and investor in Atlanta, and i have recently helped three FHA clients secure homes within the last 4 months. If you are able to go the conventional 5% down route, in this market that would be more favorable in the sellers eyes, however FHA's are still viable.


With the FHA's that we have been successful with, we have had to go over asking and provide a shortened due diligence period (i.e. 3 days) but we have been successful.


The last 2 years of work history is critical 

Post: Newbee, wants to invest in Atlanta

Niyi Adewole
Posted
  • Real Estate Agent
  • Atlanta GA & Orlando, FL
  • Posts 211
  • Votes 99

Hi @Antonio Cordova

You are taking the correct first step, which is connecting with other investors on the biggest real estate forum in the world! Atlanta is a solid market with diveristy of jobs and growing population. I currently own 2 short term rentals, manage an additional 6 (8 total) , in atlanta and surrounding counties, would be more than happy to connect to discuss neighborhoods and potentially set up your first visit to ride along. 

Post: Struggling to Sell our Flip?!

Niyi Adewole
Posted
  • Real Estate Agent
  • Atlanta GA & Orlando, FL
  • Posts 211
  • Votes 99
Quote from @Taylor Muell:

Hi there! I just have a couple points to make based on what I've heard from others or from BP podcasts. 

1. I wouldn't price it over market just because you feel like you put the money into it. It's better to price a little lower and attract the attention of multiple buyers to create a bidding war rather than pricing too high initially. If you bought too high and put more into rehab than you wanted then it is what it is and you don't get as much profit as you hoped. Lessons learned. 

2. For the appraisal, I've heard successful investors say that they will do their own comps in advance of listing and adjust based on how an appraiser would adjust. If you read "The Book on Flipping Houses" by J Scott I believe there is a chapter on how appraisals are done. You could make a list of all the updates that were made to the house and show it to the appraiser. Maybe you just got a bad appraiser, because ultimately it is still an opinion. Have you tried having it staged? Even though it should not technically affect the appraisal, they are human and will probably feel the house is nicer when they see it well staged. 


 100% agreed on the pricing piece here. I work with a flipper in atlanta and we had this conversation on a property that is scheduled to close/sell next friday. We were looking for mid 300's, but i convinced her we should list for 325. Multiple offers over asking, bidding war, and we got to the number we had in mind with minimal contingencies. 

Better to list reasonably and allow the market competition to drive the price up 

Post: Suggestions for investing in Georgia outside of Metro Atlanta

Niyi Adewole
Posted
  • Real Estate Agent
  • Atlanta GA & Orlando, FL
  • Posts 211
  • Votes 99

Hi @Abdul M.

I would not rule out metro atlanta or close surrounding cities (i.e. Marietta, Decatur, East Point, Hapeville, Riverdale, etc.). While the "Long Term Rental" numbers may not work, short term rentals are alive and well, and the metro atlanta/close neighboring cities are continuing to appreciate rapidly as more and more individuals and companies move down this way. 

Just my thoughts. Unfortunately i am not as familiar with the areas you mentioned. 

Post: Atlanta AirBNB ordinance

Niyi Adewole
Posted
  • Real Estate Agent
  • Atlanta GA & Orlando, FL
  • Posts 211
  • Votes 99
Quote from @Darrion P.:

Perhaps @Niyi Adewole can be of service and assistance in providing guidance here. 

 Thank you @Darrion P. 


@Joanne Adrien - happy to help/discuss live, i just sent a private message your way 

Post: Meeting for Short-Term Rentals

Niyi Adewole
Posted
  • Real Estate Agent
  • Atlanta GA & Orlando, FL
  • Posts 211
  • Votes 99
Quote from @Chirag Patel:
Quote from @Niyi Adewole:

@Louis Jackson welcome to BP!

I am a short term rental investor and realtor in Atlanta. I host a virtual call every Wednesday night with other investors in the area and it has proved invaluable.

Will DM you info


Do you mind sharing the information with me?

 Hi Chirag, 


My apologies on the delay, will message you now 

Post: Financial Freedom Mastermind Group - Weekly Meeting

Niyi Adewole
Posted
  • Real Estate Agent
  • Atlanta GA & Orlando, FL
  • Posts 211
  • Votes 99

Financial Freedom Mastermind Group for those that do not believe they were put on this earth to work 40 to 50 hours per week for 40 to 50 years, to hopefully retire at the age of 65. This group is focused on helping each other learn about different types of investments that can accelerate the timeline for achieving financial freedom.

Post: First Investment Guidance

Niyi Adewole
Posted
  • Real Estate Agent
  • Atlanta GA & Orlando, FL
  • Posts 211
  • Votes 99

@Scot Evans I agree with alot of the comments above. I am a realtor and investor in the Atlanta Metro area, and what i've been doing is a combination of 3 strategies. 

I have been working with my partner to BRRR homes and then rent them out on Airbnb for at least 1 year. As you know Atlanta has a myriad of fortune 500 companies based here and a signifcant amount of people moving here everyday. This strategy (if done correctly) will allow you to add value to a home, pull most of your capital back out, get some income generated via airbnb for a year, and then recoup the rest of your capital through a sell 12 months later. You will also pay less in taxes if held for 1 year.

Post: Getting started on Real Estate Investing

Niyi Adewole
Posted
  • Real Estate Agent
  • Atlanta GA & Orlando, FL
  • Posts 211
  • Votes 99

@Trevone Williams

I will PM you now