All Forum Posts by: Penny Brown

Of the list you provided, the sweet spots are Norcross, Lilburn and Decatur for small multifamily units.  You did not mention budget, if you message me your general criteria, happy to help you hone in on areas that work best for you.  Best of luck house hunting!

Never worked with them..but can recommend a few other property management companies if that is what you are looking for.

You're in a pickle for sure, but don't let emotion over rule good sound financial decisions.  Reassess your situation. Brandon always talks about the quiet time in the morning to reflect on your next moves.  Seems hokie to some, but may be crucial in your situation.  Calculate your true costs:  purchase, rehab, holding costs.  Add in what you expect to spend to finish the rehab on the second side.  Then look honestly at money on hand like the income from the airbnb, your next paycheck, savings, credit card limits, etc.  Then ask: Can you reduce your rehab, can you get materials cheaper, do you need to pay down a credit card to pop your credit score up to get a refi, etc. ? Then do a little market research. For example, find out what the home would sell for  (as is or if you finished it) or how much could you refinance it for with a no credit, no doc loan, then what are market rents and what are section 8 rents? Once all your numbers are in front of you, they paint a picture and your decision will be revealed.  You got this! I'm here in Atlanta if you need a second set of eyes...best of luck!

Sure...please message it to me. Will review for you

Brandon and David just did a great podcast #498 with a high level DC investor, Joe Asamoah. Start there if you are interested in deep dive into off-market deals in your area.  Here's the link: 

U rock! Great story!

I invest outside of my own state and Zillow.com and Realtor.com were my go-to websites for real time sales data.  I like to put in a whole state vs. a specific city to see the entire market, then I hone down on hotzones.  Go where you see a good mix of recent renovations.  Another neat trick is look for the local Chick-fil-a and/or Starbucks in the city you like.  They pop up on Google Maps, so write down the address.  These corporate titans do fantastic market analysis when building and know the next up and coming areas way ahead of the general public.  So search within a 5 mile radius.  Census data,  believe it or not, also gives good data points on income, population growth, etc.  Best of luck house hunting!

Appreciation is great, but never guaranteed.  Cashflow today is what you can literally take to the bank. So we always lean towards cash flow for our clients even if it's a small amount. Besides, with a good CPA, you will see tax benefits sooner rather than later.

If this is your first rental, I'd recommend you stay close to home or within a 2-hour drive/flight.  That way, you build genuine relationships with your prospective Core4 and you can get there quick if anything goes awry.  Call a local bank and get prequalified to see what your true budget will be, then walk INSIDE of a few homes to do your deal analysis.  It makes it a real experience for you and your wife.  From there, decide if you want to go out of state.  Best of luck house hunting!

Are you sure it's 30315 in Peoplestown? ARV seems low for that area. 30315 has alot of variety, (Grant Park, Peoplestown, S.Atlanta, Lakewood/Polar Rock, Chosewood Park) so definitely be careful and pinpoint your comps within 1/2 mile of your exact address. Go street by street to see recent sales since June 2021.

Don't be nervous. Numbers never lie. Get a firm grip on ARV, rehab, and then importantly, holding costs. Then leave a percentage for your profits. If you want help walking the property, I'll be at my listing in the area tomorrow afternoon. Happy to stop by and chat. Best of luck house hunting!

Atlanta is one of the best markets for you to invest in! C'mon down! To answer your tenant question, we have a variety of tenants. Atlanta's job market has lots of levels in pay and employment rates are lowest in years.  It's not a factory town or 1-industry town with 1 major employer---lots of corporate headquarters are here. So housing is working on the executive or young professional end down to the Section 8 tenant.  Atlanta Housing Authority has increased it's rents recently and the City of Atlanta zipcodes, 30310,30311,30314, 30315, 30331, are paying excellent rates.  Need more in depth info? Message me...happy to help! Best of luck house hunting!