All Forum Posts by: Yogendra Joshi

Hey John - One quick question - Are those 80k-100k properties you mentioned also accessible to Out of State investors? I've been sitting on a fence for a while with good chunk of savings in HYSA and been wondering how out of state investing works. Hope you can share some insights :)

 Hello Matt - I live in Alpharetta and definitely interested in attending the next one on 8th August - how do I get invited?

 Hello Grant - Thanks for your response. The 120k is only for the real estate. I have already saved 60k additionally as a Rainy day fund which is in High Yield No-Penalty CD which I am hoping should be sufficient and we plan on making it around 75k gradually with our salaries.

When you say In-Law suite, are you referring to houses with unfinished basement which can then be converted to 1 or 2 Beds and rented out as STR or LTR? or a completely separate structure in the backyard, something like a small cottage? If so, do I need to talk to our Buyer's agent if that would be allowed. What I am trying to understand is, are there any specific permissions required by the County to construct those cottages externally or in the basement?

As I said Michael, I am Rookie in investment so I am not even aware of what ADU means but I will definitely look it up. At the moment, we're looking at new Construction near Exit 13 from Pulte Homes as well as in Alpharetta near Johns Creek High School by the Providence Group, the completion timelines for them is around 6-9 months from August 2023, but since this is my first investment and the most expensive one, I don't know if new construction is a good idea because the lot sizes are getting more smaller in new Construction vs previous resale ones.

Also, I see a lot of properties in Alpharetta built in 1995-2006, are those worth investing in? My thought process was, those properties are already 15-20 years old and if we plan on living another 15-20 in it, would someone really buy that old of a property when we go out to sell it? Ofcourse, I'll go through inspection on Roof, HVAC and other high cost items, but I am just worried that it may not yield good returns when I try to sell in future vs new Construction which will be 15 year old vs 30-35 year old for 1995-2006 properties

 Thanks for the response, Michael. We're not looking to invest into Multi-family or house hacking as yet as most MFH are in school zones in the north of 4-5 Ratings and that too in 1M+ range. Also, its our preference to be in 7-8 rating schools and thus Cumming, Alpharetta were 2 areas where we were targeting to get our property so at the moment house hacking wont be a good option. 

The single most important question was to go for SFH or get a Condo as an investment with the 120k we got at the moment. Would splitting the money 5% for SFH and rest for investment would be a better choice? Adding $300-400 for PMI is another consideration that we need to think if we go the route of doing bare minimum on SFH but atleast that will give us an option to save money for Investment once the market cools down and have good inventory on the market, but I dont know if this is a good idea because doing 2 Mortgages at the same time seems very risky especially when interest rates for investment properties are slightly higher.

Thanks Trevor - We're a family of 4, 2 kids and us spouses so looking to either buy a SFH for us in a good school zone in Alpharetta, Cumming which are kind of hotspots for people looking with goof schooling, but I am not sure if putting all of this 120k into SFH would be a good idea. Do you think I can go with 5% down on my personal home and use rest of the money for getting something like 1 Bed or 2 Bed Condo in and around Atlanta area to start my investing journey? I am trying to find the best utilization of this 120k which in my life will never come back easily, atleast not another 5-7 years of hard saving. So making a very good financial decision is what I am looking for a direction at the moment. At the same time, I do not want to jeopardize my children's schooling so really getting confused between SFH or Investment.

Do you think with the amount I saved so far, Multi-family is within reach? I saw some of the listings on Zillow, Redfin and they're all upwards of 1M+ and in areas where schools are 4-5 Ratings so not an option for us to house-hack due to school ratings.

Hello Folks - This is my first post at BiggerPockets so please be patient with me. With the disclaimer out of the way, here is my doubt!

I have been savings for a while now and been renting. I have ~120k saved in HYSA and unable to decide if I should go ahead buy a home for living first or buy a real estate investment. Also with exorbitant rates at the moment, is it a bad time to buy any property? Whether for living or investment. 

Would really love some inputs and insights on what should I be doing with the saved amount?