All Forum Posts by: Trent B Paul

Ivory,

Great question. ALWAYS ALWAYS ALWAYS have a qualified professional inspect a home before you buy it so that you at least have a surface level idea what you're getting yourself into. 

A reputable, certified home inspector will check all the major systems of the home electrical, plumbing, hvac, roof, structural defects, potential foundation issues a.k.a some of the most costly items that will take away from your bottom line as an investor. 

It would definitely be worth it to research and verify the home inspection company before paying and ensure the inspection will be encompassing all major systems and components of the home as $50-$100 is one of the cheapest quotes I've seen in this market. Inspections usually range anywhere from $300-$700 depending on the quality of the servicer and any additional tests or bonds that need to be conducted. No matter what the price, a good inspector can save you MUCH more money than they cost you.

Lastly, keep in mind inspectors are just following a checklist and are typically not experts in any specific area or system of the home. So if there are any issues that need to be looked at further, they will simply give you a blanket explanation of their concern and recommend you consult wth an expert in the certain system (i.e. electrician, plumber, hvac specialist).

@Joshua Andrews,

Welcome to an awesome community full of helpful mentors and vendors. I know it can be tough to find good multifamily deals still in the Metro ATL area so congratulations on closing on your first triplex. You've taken the first step toward building generational wealth for yourself, your pug and the rest of your family and you should be really proud for taking that plunge! 

Now that you've entered in this world, I know you're itching for your next deal. What's next for you?

Karthik,

Feel welcome to let me know if I should refer you to some great companies that have worked well for our clients in the area in the past.

Josh,

Emails are typically one of the lowest cost campaigns but also one of the least effective. Cold calling is one of the most effective due to the high rate of contacts that can be achieved in a short period of time.

However, you definitely want to make sure you’re using successful scripts that produce responses rather than objections. People in this market get dozens of phone calls every day from scammers investors and even agents asking them to sell so you want to make sure you stand out.

I would also recommend integrating other low cost marketing and lead gen mediums as well.

PM me if you’d like me to go over what works for my team in this market! Good luck!

Ming,

It’s unfortunate that you have been put in this situation. These government programs are not looking out for the interests of landlords in any form or fashion. I would consult with your attorney for the next steps if you choose to continue the eviction process.

However, I would seriously consider option C) cash for keys. If the tenant is truly in a strapped for cash situation, they are very likely to accept. It will result in the cleanest possible break from the current lease and may end of saving you more money in the long run from the potential rental income you’re missing out on every month, as well as attorney and court fees.

PM me if you’d like to discuss further what a cash for keys situation would look like for you!

Sam, 

A property with higher-grade finishes near the lake will run you about $175-200/sq foot.

PM me your email and I can send over the currently available lots in the area you’re curious about to give you an exact idea of current market values. I’m happy to also share tips and tricks for closing on deals 70-80% of market value in that area.

 We can also discuss several different financing options available to the public that no one is talking about that allow you to better leverage the cash you already have saved up.

Kamuela,

Rentals in areas surrounding college campuses is a very popular and creative strategy due to the endless demand that can be available. It is a strategy my utilizes as well.

However, Kennesaw is an area that might be more suitable for leasing to other options as well and it may narrow your tenant pool to market exclusively to students.

That being said, if you are dead set on utilizing this strategy, I would recommend other nearby markets surrounding universities such as GSU, Georgia Tech, Emory or the University of Georgia.

Eric,

This is a great question, because as I’m sure you’ve heard, real estate is all about location.

There are certain neighborhoods and zip codes in the Metro Atlanta area that are better for certain methods of investing than others.

To better answer your question, I would need a little more insight as to your price range, exit strategy and if you plan to manage the property as a Short Term or Long Term Rental.

My PMs are open to consult more about your options! Hope I get the chance to discuss with you soon!