All Forum Posts by: Richard Capers Jr

As the title suggests- looking for title companies in the Augusta area that are investor friendly. Familiar with wholesale, sub-to, 1031, and seller financing contracts.

I've used Wright McLeod Attorneys at Law for most of my closings and have had no issues.

0 Votes

Atlanta, Georgia

Quote from @Amy Lemaistre:

Thank you! If you had to choose Augusta or Athens, which would it be? I’m concerned a home in Augusta might sit on the market longer. But homes there seem underpriced.

@Amy Lemaistre Homes in the Augusta market can move fast depending on the price point, location, and finishes. I live in this market and have had some good experiences if you need more detailed information.

1 Vote

Atlanta, Georgia

@Clinton Fain

I agree with @Matthew Crivelli on how low the rents are and the difficulties you will have finding a DSCR lender. I invest in Augusta and believe you have a potentially good opportunity pending location. If you acquire the property vacant are the turns easy enough to get a team in and out quickly? Does the seller wants you to honor the current lease? Is the seller open to creative financing?

Cash offers have to be favorable to you and if you go the hard money route I don't know many lenders that will fund you if the portfolio value is anywhere near ARV. The seller knows this so look for a few ways to bridge the gap and make the numbers work for you long term.

0 Votes

Quote from @Matt Weiss:

Hey Everyone - I am looking for some advice and different strategies to help get my most recent rental home rented out. The property is in Martinez, GA right outside of Augusta and zoned to great schools. It's in a good area and I have 2 other rentals that have not had any issues getting rented, but for some reason no one is pulling the trigger on this one.

The home is fully remodeled and ready to move in. I had already dropped the price down to $1,595/month which I believe is well priced. I've also started going on Facebook groups to list it and look for leads. Any other advice or creative strategies that I can use to help get this rented out?

Below is the listing:

4069 Sweetbriar Dr, Martinez, GA 30907 | Zillow

Thanks!

Matt

Hey @Matt Weiss! I know that area and have had some difficulties renting. I don't want to say the market has dropped but it has slowed down a bit in Augusta. I dropped my rent by $200 just to get a qualified tenant in. Tenants aren't moving as freely as they were just last year. One place I recommend you list your property is at the local Military Base Ft. Eisenhower (previously Ft. Gordon) Contact me directly if you need some help getting it listed there.

0 Votes

Quote from @Jennifer Schattle:

Hi, I just purchased a property for cash for $40K and put in $15K to rehab it. I already have a renter contracted to pay $750/ mo. I was looking at a DSCR loan but two lenders have told me they can't do a cash out refi if it's valued under $100K. Are there any lenders out there that are willing to do cash out from under 75K? I'm planning to transfer the deed into my LLC once the paperwork is cleared. Thx for your help!

Hey @Jennifer Schattle. Run it by this website. https://www.brrrr.com/ I believe they can assist you

0 Votes

Houston, Texas

Quote from @Andrew Aladjadjian:

Bringing this one back to light...

I'm in a similar situation. I want to wholesale a deal with seller financing, however the reason for seller financing is to avoid paying a large capital gains tax (original seller). Even if I close on the deal first, then sell it and pay off the loan, that would defeat the purpose of the seller financing, right? Otherwise the seller would not want to sell in the first place.

Biggest thing here is transparency. Let the seller know that you have investors that may want this opportunity. You are the deal finder and you have to comfort the seller into knowing they will receive payments from whoever your end buyer is. Anything can be assigned don't over think it. Hit me up if you have more questions.

2 Votes

Quote from @Octavio N Morales:

Hello everyone,

I have a couple of properties all in my home city; Laredo Texas. This border town is not even on biggerpockets’ drop-down menu. Anyway, I am looking for Hard Money Lenders that work in the South Texas area. I have lost the opportunity to invest in a couple of properties due to lack of financing so I would appreciate any help.

@Octavio N Morales If you need additional options for Hard Money lending feel free to reach out!

0 Votes

San Antonio, Texas

Recently I've seen a few lenders increase the LTV to up 80%. This includes Lima One Capital, Mofin, and Kiavi. The company I'm with offers up to 75% LTV. Expect the LTV to vary based on your deal's Cashflow, Location, and Long term Strategy.

0 Votes

Quote from @Zachary Vanison:

Hey guys, what private money lenders do you recommend to help with dscr and seller financing down payment deals

I'd advise you to check with your local REIA. Some investors will partner with you in the deal by supplying the down payment. There are also investors out there that can sponsor your DSCR loan if you need additional credibility with the lender.

0 Votes

Dallas, Texas

Quote from @Mechelle Miller:

Quote from @Erin Church:

Hey Elenis,

I am betting you'll like the Augusta area! I would suggest arranging your trip so that you're in town the second Thursday of the month. There's an Augusta REIA that is great for networking. There are several other meetups/meetings that happen weekly (and monthly). (Tuesday at 8:30, Thursday 6:30am and 4:30pm, Friday Noon happen weekly. There's a BP meetup the last Friday of the month and a Cash Flow game on the 4th Saturday of the month.)

I am moving to Augusta and would like infor on the REI meet up as well

@Mechelle Miller the Augusta REIA is held the Second Thursday of each month. We post the location and time on Facebook. Here's the link: www.facebook.com/reiaofaugusta

1 Vote

All Forum Posts by: Richard Capers Jr

Richard Capers Jr has started 1 posts and replied 85 times.

Post: Wholesaling Friendly Title Company in the Augusta Area

Post: What are the best areas in Georgia to invest? Looking for a fix and flip.

Post: How to Buy Properties in a Portfolio

Post: Looking for Advice getting Home Rented

Post: Is it possible to cash out property valued under $75k?

Post: Wholesale deal with Seller financing

Post: Hard Money Loans

Post: Looking for lenders for cash out refi or portfolio loan

Post: Private money lenders

Post: Looking for contractors in Augusta, GA to help expand my portfolio