All Forum Posts by: Derrick Jordan

Gauging out of state or local investor interest or need to have someone on the ground to assist  on the ground eyes for property acquisition or  other real estate services.

Nick- just a thought if you put 550k down and next year the market tanks  how much do you stand to loose.  If you have 550k cash that money should be going a bit further for you and putting it in a 750k house to have a 200k mortgage does seem to reasonable. 

@Jordan- does the property have to be in your personal name on the refi?

How many square ft?

ok

Looking for 4-5 acres throughout Georgia typically in urban areas but doesn't not have to be. Will look at existing structures as long as they are not occupied.

Types:  Schools, Hotels, undeveloped subdivisions, vacant land etc

Price: Typically under $900,000.00

Bought my 3rd and 4th properties!!!!!

Place off Howell mill by the Marta office doesn't have a name its a warehouse 

@Kevin Polite just looking at mainly 30314 and 10 sometimes 18

So I  purchased my second property in  downtown west  last week for 32k. Its an older house but very near the westside beltline. Im now working on completing the finance for rehabbing it and looking for some good subs for electrical and hvac.  I plan on making this my own home somewhere down the road  when the market will support better rehab values.

The house was built in 1910 so it has tons of character but needs about 40k in work but it met my buying criteria and I initially lost the bid but it came back on the market 2 weeks later and I believe the realtor was like lets see what this guy is going to do!!!! Checkmate for me.

I think I can rent it for 860.00-900.00  its has 2 beds 1bath with a possible very small bedroom for a child. this time around im going to make the kitchen and bathrooms the best places in the house for some reason people just melt when the kitchen and bathroom look good. Possibly upgrade on the bathroom sink and cabinet accessories. (not much)

I have not chosen the section 8 route as of yet but I may on this one.

I also have purposely not gone for the top rental rate. I probably could get an extra 100  at market and probably 200 if I used section 8.  But Im going to look at this ALOT more this time around.

Learning experience from first purchase.

I over paid for the rehab not by much but I did.

I bought everything new from HOME DEPOT  and I really did not have to.  Atlanta  has lot of places that sell most things you need at a 1/3 of the cost. I just didn't know that.

I don't have my own network of  subs carpenters, electricians, plumbers, painters, locksmiths, landscapers and pm's  ( I now try to get contact info of every person I see in a pickup or van that does residential work) I have at least 3 plumbers now on my list.

Must Do'(s)

In the 30k market what I found is most important is KEEPING THE GRASS CUT. I pay a guy in the neighborhood to cut the grass. I cant tell you how much this helps the curb appeal even in the hood.  I pay 20.00 and the guy cuts my grass and the lot next door. this really helped when the appraiser came out and the neighbors appreciate it to and watch out for my property even more. the first thing I do now clear and trim the lot instant value.

Mississippi

Im originally from MS and was able to purchase my 3rd property last week. It had sentimental value as it was my grandmothers old house that was lost into foreclosure by in 2006. I got it for a STEAL (A REAL STEAL) I WILL POST PICS SOON