All Forum Posts by: Scot Poore

I ended up investing in Athens and Rome. I have not looked at Dawsonville yet. I will have to check it out. I am open for investing in just about anywhere for multi family.

 @Brian Spears

Looking at a 950 sqft full rehab. In silver creek. 2/1. Electrical / Plumbing/Roof AC and all the things. So probably looking for a GC.

Brian, 

looking at a 950 sqft full rehab. In silver creek. 2/1. Electrical / Plumbing.  So probably looking for a GC.

Looking for a Rome GA General Contractor to look at a property ASAP. Please let me know if anyone can help! 

Hello All, 

I have a seller finance question someone might be able to answer.
I am a seller financing a property and will be getting a private loan (from the sellers) to finance the rehab. Is there a way to refinance the property with the rehab costs . Would I need those costs added to the mortgage/note? I know I have to wait 6 months to do a cash out refi, but I don't know if I could do a rate and term after the repairs are done and it is appraised since I will be leaving money in the deal.
Here are the numbers. 

PP 162k 

Down Payment (10%)

Loan 146k

Rehab - 30k. ARV 235k.

So basically I would want to do a rate and term refi for 146k+30k = 176k which is about 75% LTV.
My question is what documentation would I need to add the rehab cost onto the loan, so I can do a rate and term asap. 

Thanks!

Does anyone have any experience or any luck investing in South Atlanta. I am looking at a few flips in the Lakewood, Thomasville Heights, and Norwood Manor areas. I was told this was an up and coming area. Just looking for some tips and advice.

Thanks!

Scot

Does anyone have any experience or any luck investing in South Atlanta. I am looking at a few flips in the Lakewood, Thomasville Heights, and Norwood Manor areas. I was told this was an up and coming area. Just looking for some tips and advice. 

Thanks! 

Scot
 

Thank you all for the feedback. Greatly appreciated! 

Hello All! 

I am looking to buy a few buy and hold rentals in the the next 18-24 months. I am doing some research and exploring which market I should invest in.  I live in the Atlanta Metro area, but I am looking to invest in a smaller town that may have better cash flows per door.  A few markets I am thinking about are as follows. 

1. Montgomery, AL

2. Jacksonville, AL

3. Rome, Ga

4. Athens, Ga

5. Huntsville, Al

6. Douglasville, Ga 

If anyone has any insight to which markets they think have good opportunity or any other recommendations please let me know! Thank you!

@Tim Wilson the value of the property is about 240k. So probably enough for a decent down payment.