All Forum Posts by: Shannon Smith

@Lee Taylor Good to know!  Hey, by the way, I have seen you on the Middle GA Real Estate Investors Group on FB.  I keep wanting to get down there to attend a meeting in WR, but we are up in Forsyth and w/ 3 young kids it just has not happened yet.  Interesting to hear you have had luck w/ local lenders.  Robins Federal Credit Union or any others in particular? 

Hi guys, I have 2 rentals in Macon, GA.  5 total in Middle GA.  My husband and I lived in Macon for over 10 years.  It's not as good as it once was about 7-8 years ago and you have to be super careful about the area you buy in.  Just about every good area has a bad area not too far away. That's just the reality of an area where the median household income is below the poverty line.  That being said, we do have Mercer University, the Medical Center aka Navicent Health, and GEICO which is middle GA's largest employer.  It's harder to find deals now because most auction deals require your purchase to be all cash.  Most lenders in GA will not lend on less than 50K so you're looking at a sweet spot on 60-70K if you can find the deal unless you have cash.  Is there something in particular you're wanting to know? I'm happy to share my knowledge if it will help.

@Jesse Robert Zamarripa III

Look into house hacking if you have not already. I wish I had taken advantage of this method back when I was getting started, but I didn't know what I didn't know. As an owner occupant you only need a small percentage down versus the 20% required for most investment properties. If you buy a multi unit (up to 4 plex to use FHA loan) rent the other units out and have those units cover the mortgage and you benefit by living rent/mortgage free. Save the money you would have normally spent on rent and any additional cash flow to give yourself reserves for when vacancies and maintenance issues come up because they definitely will.