All Forum Posts by: Penny Brown

Atlanta...hands down. All of the Fortune 500 companies have it right...Atlanta is the place to be.  Be wise, run your numbers, find great locations, and a good team (core4) and you too will win, my friend.  If I can answer any questions, I have boots on the ground  and happy to send real data to support what I'm saying.  Best of luck house hunting!

You are treading a thin line.  Junkyards are active all times of the day and night with clanking and banging to fix the cars, they have barking junkyard dogs, and God knows what else.  Best advice, go park your car at that townhouse at night and then again on the weekends to see what's going on.  Put yourself in the shoes of a potential tenant and see if you are ok with your family living there.  If it's quiet and no issues..get the deal.  If you see, smell, or hear something kooky...keep looking.  But experience will be your best guide here...go yourself.

Paying out an investor depends on how they paid in. Meaning, did they act solely as lender? Or, will they be an active partner in the purchase and come to the rehab everyday. Are they expecting monthly payments or a lump sum once the house sells? Are you using their credit/finances or yours to guarantee the loan? Those things seem simple, but can become a huge deal once the balls gets rolling, so it's best to discuss up front. Then, put the answers in writing in your LLC operating agreement so everyone understands their role and expectations. Get an attorney to help so your documentation is clear. Best of luck!

This is amazing! Thanks!

Ownership has its perks, for sure.  But, it all depends on how often you are in Atlanta.  Renting may be viable if you are planning to be in and out alot.  If, however, you are putting down roots, then purchasing will save you money in the long run.  I have worked with alot of out of country investors, they usually just start a GA corporation and get an EIN which allows them to do banking and business locally.  Hope this helps!

A good handyman is hard to come by these days...will be interested to hear replies to this post! Best of luck!

You may also consider Roger Herring ...he's a local Atlanta accountant who specializes in investors

How great that you jumped from podcast listener to doer! Congrats on making the leap. Here is where the fun starts.  Now that your deal analysis says it's a go, get prequalified with a lender.  Depending on costs of rehab, it could be a 203K repair loan, or a private lender, or as a last option, a hard money lender.  Have your contractor go over the rehab costs with you, line by line so you can do a scope of work for the lender.   Give your financial docs, scope of work to lender so they do their underwriting.  Loan gets approved.  You bring your downpayment to the closing attorney and boom...you have a deal! Lots of turns in the road, but that's the basic map...need more help...message me...happy to help...Best of luck house hunting!

Just attended 2 great meetups this week...1 on Self Directed IRA investing and the other on commercial building investing....message me and I'll point you in the right direction once I understand what avenue you plan to go here...Welcome to the A!

No Wholesaler license required in Atlanta...have at it! Best of luck house hunting!