Banks will not lend on a house even if an AC is missing so I don't think we are having a big competition from home buyers 90 % of these house would not qualify for traditional bank loans.

203 K was a construction loan but requirements so tough. One of the resellers from West Coast that you mentioned might be my competition are now selling my  Charlotte deals in both the USA and Australia .They are just one of the west coast teams selling in Atlanta . If you google Atlanta and wholesalers I bet you can come up with 25  to 50 local companies doing this. Now add in the USA resellers  from west coast and northern markets that are jumping in.Add the international buyer that is seeing , and hearing about Atlanta and 15 to 20 % returns.  Then the market gets flooded I seen this happen in Memphis, Phoenix , Indianapolis .When word gets out any body and every body who wants rental properties seem to flood the area.

Again this is just my two cents. Are you still coming over to Atlanta let me know I am holding you to a couple margarita's.

the city like most place very little funds except for first time home buyers. My wife is grant writer for Catawba Indian nation I have a intern coming on in May. To help find funds out their to make these homes energy efficient , green , anything else that will help. I think taking this on street by street basis could keep me busy for a bit .

Got a skype conference with my Hong Kong guys in 5 minutes going to do 60 with them and keep 7 for my self. If we can sell the first 30 an pay off loan.  Look to keep the other 30 well on paper that would be nice.

Yup got the same message. I get about one of of those a week to my email. Now getting them on forums

I deal with rental  income from $350 yes $350 up to $1400 so it is what it is. Really comes down to how you make it work ,the people you work with and people you rent to.  It is all relevant and seems to work the same for $1400 dollar month rental  down to $350 a month.  People are people and expect to be treated like people. Some times we focus more on money then the actual humane side of real estate and investing. This is still a people business regardless what side of the fence you are sitting on.

I have a great Tenant that rents for $450 single mother two kids lower end area. Went on a Sunday  a few weeks back to meet plumber turned out this lady worked with my mother in law for 15 years. Even saw my wedding pictures and knew of me and my wife. Some people are  just better then others dealing with people which in this business in a key for some one like me.

I guess I have never entered a true war zone but I deal in lower end homes in SC and great people in these houses. Do you get bad renters sure, but I also get bad  renters in higher priced rentals as well. Being on the ground and being involved in these homes daily makes it much easier for people like Kyler , Cheeves, Emma and others who are on the ground. Doing this from far away always has its disadvantages. Take Jay he has to make sure people he deals with with who he already has had long term relationship still function. Which again still has its advantages over  those who are not on the ground or have do not have direct long term relationships with the teams you deal with or choose to deal with.

again just my two cents….

I actually enjoyed this post been away from forum of late. We have had back to back clients from Singapore – and Australia. My theory is lot simplier  then above. Real estate is a investment which means risk . You learn to buy and rehab right along with leverage. Yes the herd can block you but if you do your homework.You can always find another path. Life is full of challenges and  road blocks ,or  road maps. Just depends how your perceive them or take them on. One of my best friends lost 48 house and his personal house. My uncle lost out on his town home project 7.5M and both of his personal residences . Hopefully they can learn and have different paths to choose  to get to that water again or pass the heard. Only time will tell but again life is full of risk and reward . Depends how much you can stomach or learn to be able to  to get to the water or pass the heard.

 So guess it is all relevant.

SC and NC very similar  and easier to evict . For our company or us buying at  court auctions we have our Agent ( paralegal go check the property to make sure no liens( court house ).) That is some thing I just refuse to do   is buy something with possible liens. I am sure there are people who do it but not for me.There are plenty of bank owned properties to choose from so no need for us.

Just my two cents

lawsjs wrote:

Never let it be said we think for ourselves Kyler:) Absolutely no room in this market for contrarian investing. I guess the more familiar a US city is familiar with Aussie foibles the better:) ATL properties are 'pretty' and the place has visual similarities to bits of Oz – people also have a fetish for high headline returns so it fits the bill. My sister (emma171) said to me last night she reckons you have to buy $20-30k (thereabouts) less in ATL compared to a place like LAS to make up for the extra maintenance (lawns, termites etc). Interesting point. As long as you stay away from HOA's you should be fine. Then all you have to do is manage the place – and we all know how easy that is:)

Atlanta is getting flooded with investors, as the prices are rising with over bidding. Every USA investor group especially from west coast is buying in Atlanta or from turnkey investors their. So they same groups that are buying from turnkey guys like me are reselling to International clients. I am no longer in Atlanta still stuck with 5 or 6 houses looking at dumping. Now from some one like your sister who seems to be buying direct. Has she purchased any thing their yet. Curious to see what she is able to grab in that market. Still good deals just depends on price range your willing to pay. Notice investors are now justifying stepping and buying  further away from the city( to make numbers make sense ).  Only time will tell if Atlanta or any of the investment markets hold up to supply and demand + rental demand  here in the USA.

Charlotte was just ranked as the fastest growing city in the USA ( from Yahoo so who knows  how much weight that holds. I will say even for me here. The prices are slowly rising and more competition then just 3 months ago. We are taking more rental applications then ever. How ever  at the same time we are denying 12 to 13 out of every 15 applications. So what I worry is if other teams come in lower the standards we are trying to set or hope to set . This  will also and is happening in Atlanta as people are going to be buying to high , then make a common mistake by not rehabbing properties like they need and should be.

Lawsjs you, Freckly ,and Jay will always be much better at writing and making you points. Me to simple of a person. I did finally lock down the 67 house deal In Rock Hill SC. Jay knows about the homes  all in 5 block radius, Took me two and half years to complete the deal. Finally purchase price is $860k with rehab about $400k  $2k in title insurance no other closing cost. So deciding best way to work that deal out.

Another property we just  picked up lower end Commercial deal in Myrtle beach beach 13 units Was lsited for $399k got it for $200k . Block from the water so been bit busy not posting . .I guess  to be quite honest all real estate .It really depends on what your goals are and what you are trying to accomplish. Oh getting ready to build our first house in a  few years. Nicer homes think we are shooting for  1800 sq ft about 100 dollar ft to build. Land $20k cheap and shooting for Resale in $165k market.

talk soon

Been a way for a few days quite busy.I am going to say if any one of us USA investors has done this would Be Jay Hinrichs. Send him a PM and ask him

Alex

Okay had to chime in wife drives a KIA Sportage  been paid for years ago. Myself doge ram 2004 but paid  for so all good here . Cars seem much cheaper here in the states then what you all pay over seas.