All Forum Posts by: Ryan Johnston

ITP MFR comes down to two things. Do you value tenant quality and neighborhoods or your cap rate. The duplexes are available and a lot sell off market but it depends what is most important to you. Depending on your price range for the purchase that will narrow it down pretty easily as far as what areas will have what. Atlanta does tend to have less MFR than other Metros and a lot of it exists OTP and in areas such as Gwinnett County. If you are looking to house hack Lindbergh and Chamblee/Brookhaven still have some decent options. Good parts of Decatur (City of Decatur) has been inflated the past few years and anything from Morningside/Midtown/Virginia Highland will typically have caps at 7% or less. Going below I-20 and the West Side may keep your numbers up but the neighborhoods are more transitional.

@Rod Stanback, I would looking to buy and hold the property.  Trying to work on the friends and family to get the 50k with higher rates back to them but no bites yet.  Presentation format sounds like a solid way to go about it.

Hi All,

I am a residential real estate agent who has bought and sold multiple personal properties but have never taken on a commercial loan or private money. My cash is tied up at the moment and I am trying to find suggestions about how to best structure the deal. The seller either wants to outright sell or will owner finance with a minimum 50k down so he can move to his next project.

Purchase Price $165,000

6 Units All 2/1s Already Rehabbed

Fulled Occupied at $500/mo all 12 mo leases

Seller pays water, tenants pay electric

Property manager already in place at 7%

If I don't have out of pocket cash at the moment, what is the best way to get this done? Will private lenders do as little as 50-60k loans?  . Any help is appreciated.

Hi All,

I am a residential real estate agent who has bought and sold multiple personal properties but have never taken on a commercial loan.  My cash is tied up at the moment and I am trying to find suggestions about how to best structure the deal.  The seller either wants to outright sell or will owner finance with a minimum 50k down.

Purchase Price $170,000

6 Units All 2/1s Already Rehabbed

Fulled Occupied at $500/mo all 12 mo leases

Seller pays water, tenants pay electric

Property manager already in place at 7%

If I don't have out of pocket cash at the moment, what is the best way to get this done?  My credit score is 800+.  Any help is appreciated.

Hi @Hunter Rogers, welcome.  Do you have specific questions or looking for specific info from an agent?  

Hi @Patrick Hartley.  In terms of multi family are you only looking for the commercial as in 5+ units are open to 2-4.  The duplexes, triplexes, and quads in Atlanta are heavily focused in specific towns with a high concentration in Gwinnett County that get you close to the 1% rule and are in stabilized neighborhoods with decent schools.  Areas in Dekalb such as Stone Mountain and Lithonia will hit the caps you are looking for but are more of C and D neighborhoods depending on the area.  

Inside the perimiter (ITP) which is what most people want property values wise the caps are a lot lower as investors bank more on appreciation than current cap increases.

If you want 5+ units that will depend on the budget and if you are looking for something more turn key or a value add.

Hi @Paul Monroe, welcome.  Atlanta is great, let me know if you have any questions!

@Charles Kennedy the West Midtown area is going through significant growth but the prices are still a little suppressed from other Intown areas.  Your should be in good shape, there are some places now that would be good samples.

@Brian Baker Your price range for those neighborhoods is right on point for a duplex and potential triplex. You have to watch out for the Single Family Homes that are zoned as SFR but being marketed as Multi Family. Some are grandfathered in but some aren't. Either way there should be a few options.

 :) I am looking for one of those for myself!

Hi @Matt Bailey, welcome to Atlanta!  Is there a specific location you are looking to be in?  That will definitely put things into perspective in terms of what is available and the rents in a given location.