All Forum Posts by: Tyler Hardy

@Ahsan Harriel I would go with Lee on this one. Quick turn over and no renovation means your dollar can be used on your next project faster. I'd take the cash, pay the capital gains, and do it again. It's good to get lucky sometimes, but don't let it go to your head. Good job though!

@Victoria Applegate Who knows, you may be able to find a 4 unit that generates enough cash flow to pay off your debt and generate income at the same time. This forum can be one of your best tools in this process so reaching out was a great idea. I wish you all the best of luck!

@Victoria Applegate

Welcome to Georgia! First off, (in my opinion) I would say your priority would be paying down your debt. Then again, I know some people that are absolutely terrible with money that have succeeded in real estate carrying a large amount of debt.

It sounds like you are referring to you and your significant other when you say "we." Have you ever thought about house hacking? I wish somebody had told me about this process when I was younger, but I can guarantee you my wife will not fly for it now. You may have the opportunity to get some very attractive financing options from conventional methods by using the house packing method. Even if your debt to income may be a little outside the range for an investor, you may still be credible to a bank.

@Fitzroy Harvey My recommendation to you is to spend some time driving around GA and staying short term in a few different areas. Georgia is covered in vastly different markets, all with their own atmospheres. You can stay in hotels if you'd like but the best way to get the feel of an area, in my opinion, is to go the Airbnb route. This would put you in a home in the community and get you a better idea of what it would be like to live there. 

I would also focus on two different areas, one to live in, and one to invest in. They don't have to be in the same area at all. You may say you'd like to raise your family in Alpharetta (North side) but you find it more attractive to invest in East Point (South side) where the market is cheaper and growing. Don't limit yourself to moving to an area where you want to live an invest because those two mentalities don't always line up. 

All over GA (around Atlanta specifically) you have a very diverse market and a broad scope of property values, culture, and growth rates. If you aren't planning on moving here for a while, you have plenty of time to take some trips. Plan on staying on the Southside, Northside, and intown to get a feel for one of the best states in the county. And don't forget, when you order a "tea" at a restaurant, you'll have to tell them "unsweet" until you get used to the way tea is supposed to be made (with sugar)! We look forward to having you!

@Karoline King

Keep in mind, Georgia is one of the cheapest housing markets in the country right now. $400,000 buys you a lot in Georgia. The tenants you will attract at that price range has a lot to do with location. Where is the property located? If you are in the higher-end areas around Atlanta I wouldn't be concerned with a bad tenant. A 400k property in the more rural areas can be considered a high in property in this area. Although, I don't see getting 4K a month in rent in many places around Georgia. It all comes back to the location, where is the property located?

@Brandon Roof Excellent advise. I'm looking for seller financed deals now to try and work that exact angle. If I can show her that my system works on smaller deals, She can be more comfortable as I scale up. Thanks for the help. 

I'm a new investor and I'm on the hunt for my first deal. I've been narrowing down my search and I'd like to start in smaller, commercial multi family (5+ units). The issue I have is the up front capitol. We recently built a house and put the large majority of our liquid capitol in it to keep our mortgage down. This way, when I finally get to the point of leaving my day job we won't have a huge monthly payment to cover, and we're not paying as much in interest. Unfortunately this leaves with with very little to invest. 

My issue is this, I'm thinking about using a HELOC to start investing but I will only do this if my wife is comfortable with it (being that this is our primary residence). I chose a HELOC because of the lower risk of default, and the fact that it won't change our mortgage payment like a REFI would. Because her parents were both agents before the crash and basically lost everything, she's hesitant about investing. How can I have the conversation with her that will put her mind at ease? Should I even try to push the issue if she's not comfortable? I'd like to have access to the 200k or so of equity I have in my home, but it's not worth her laying awake at night stressed about the risk. Thoughts?

@Boyce Alexander

That's not too personal at all. Everybody as questions and, while I may not be an expert, I can try to answer you give me. As of now I'm on the hunt for my first property. I'd like to start off in the commercial multi-family space because that business suits my mentality better than single-family. I know that's not exactly conventional but I feel that's where I would be the best fit. Recommendations and introductions may be easier when you narrow it down to a specific area. Where are you looking to invest?

@Boyce Alexander i'm in the same boat here on the southside. It's always good to hear from another new investor ready for the first deal! Reach out if I can help with anything. Even if it's just to bounce ideas off of. I may not be an expert investor but it's good to talk to someone on your level sometimes.

@Nick Ruffini I'm sorry to hear that you're having to reach out under those circumstances. I understand you're looking for a "reputable" investor but I'm actually looking for my first property and I may be interested. I'm about 30 minutes outside of Peachtree City. Send me a PM if I can help.