Frequently Asked Questions

What is my total out of pocket to purchase a property?

This depends on the property and the price. In most cases, you'll be out of pocket 20% of the purchase price (which averages about $14,000). Keep in mind that when you consider the cash flow for most properties, this money is typically earning over a 20% yearly return on cash flow alone. Where else can you get a 20% return on your money?  

What are the terms of the financing?

It really depends on the property and how the financing is structured. Typical investor financing involves a 30 year fixed rate loan with an interest rate slightly higher than an owner occupied purchase.  

Who performs the repairs on the house?

We use ProServe Home Solutions, LLC to perform the repairs.  (ProServeHomeSolutions.com) 

Can I see exactly what work is or has been done on the property?

Yes, when you buy a property through us, we will give you a login to our website. This login will give you access to the original estimate that was created by ProServe. You will also get before and after pictures of the property so you can see exactly what was done.  

Can I actually see the property before I purchase it?

Yes, we encourage our investors to see the property in person. If you are out of state, we are more than happy to have you fly into Atlanta and show you around our properties.  

Who places the tenants in these properties?

We assist our leasing agent, Janel Sellier with Osteen Realty in placing tenants. Our website, AtlantaLeasePurchase.net is one of the top websites in Atlanta for Lease Purchasers and Renters. We work closely with our preferred agent to make sure she places good tenants in these properties. 

How many properties can I buy?

This will really need to be determined between you and our loan officer based on your credit score, income, assets, debt to income, etc. Currently, Fannie Mae allows you to purchase up to 10 properties.  

What happens if I lose my tenant?

If your tenant moves out of the house for any reason, you can work with our preferred leasing agent to replace them with a new tenant. We will also put your property back on our website to assist in replacing the tenant as soon as possible.  

How long are your lease contracts written for?

We typically structure our leases as 24 month lease purchase contracts. The tenants are put in credit counseling and have the ability to purchase at any point during the 24 month lease. - If we put a renter in the house rather than a lease purchaser, it is more typical to have a 12 month lease.