All Forum Posts by: Sher J.

What I found for my rental was to make applicants complete a pre- screening before you even show them the place. This way no one spends wasted time. In the document I ask, credit score range, prior evictions, monthly income and how many ppl are estimated to live in the space. Based off the criteria I have and what they have said (they could have lied) I then move forward with them checking out the place (open house style). If they are interested, I give them a complete application (asking for paystubs and bank statements) and then run background, credit and eviction history. Let me know if you have any additional questions!

Hey Marcus, I am doing a househack now with a small MF. Feel free to send me a message with any questions. 

I have heard of successful low down payments for either claiming the investment as a "second home" or "vacation home" but you will need to see what is all required to claim this status. As mention earlier, look at credit unions and small banks and tell them what you need. 

I legally do not believe so, I was trying to find my FHA paperwork that I signed. But I do recall closing attorney mentioning that. However, clarify with the lender you are looking to close with.

Hello,

Does anyone know of any active meetups or real estate networks focused on Douglasville , Douglas County  or West Georgia real estate? Thanks in advance! 

Just purchased a duplex with a fha in March in metro Atlanta. Like @Azeez K. mentioned, very competitive but doable. 

Shoot me a message if you want to chat more about it! 

Hey @Account Closed do you mind sending over that spreadsheet as well?

Hi @Cody Smith I thought about this for a long time because like you, I have student loans. Slightly larger than yours, but after reflecting on my situation I decided that I am going to invest in real estate, after I save enough capital.

Since these loans have very low interest , i believe you can hold off on them for a bit. For me my plan is to house hack, hopefully the numbers work were my tenants are able to pay a good portion of my mortgage and i can live for free! From there, I would continue saving my monthly amount that i do now along with the money i would have spent on rent. Those savings would then go towards my student loans, while I am also building equity in the house.

Pay off all my loans and than continue my investing journey!

Hi @Alicia Bell I am also getting started with real estate however, when it comes to getting a great gasp on numbers I like Coach Carson’s content (he has a blog, podcast and YouTube) and Chandler Smith (YouTube and blog) they both provide calculators to get started as they too look for short term and long term data on properties.

After you learn about the  numbers that matter the most to you, you can create your own excel sheet, like I am sure your excited to do haha :).  

Access for financing, I would search a couple  and you will see articles/books that share more knowledge. For example, private lending, hard money, conventional, lease to own, seller finance and so on.   

@Michael Fitts thanks for sharing! Sounds like your real estate agent was the "quarterback" for your team. How did you find your agent?