Frequently Asked Questions
Atlanta is the capitol of the south and poised for continued growth. Property values are down and rents are starting to move upward.
We are purchasing homes at well below replacement cost and in markets that are positioned to appreciate as the market turns.
We have a cumulative base of over 30 years experience in the Atlanta real estate market. We have weathered numerous market
corrections and know the local Atlanta Market like the back of our hand. You have the benefit of our local knowledge and experience.
What is my total cash out of pocket to purchase a property?
Most of our transactions are either “all cash” or with 20% down. The exact amount of the down payment will range from $14,000 to
$18,000 plus closing costs. You can use our Property Evaluator tab to obtain a clear picture of the costs and your return.
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.
What is included in your typical renovation?
- New carpet and flooring as required
- New paint inside and outside as needed
- New Appliances- refrigerator, stove, dishwasher
- New HVAC as required
- New Light Fixtures, as required
- New door hardware, stops and switch plates as required
- New hot water heater as required
- Freshen up the landscaping
Who performs the repairs on the house?
We are a commercially licensed contractor and run three project crews for our home renovations.
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 our properties.
Who places the tenants in these properties?
We have a full time leasing agent who works directly with us to place tenants in our properties. 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 financed properties. However, many investors buy properties using cash or self-directed IRA’s as well, which could allow you to buy more than 10.
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.
Who manages the properties?
We work with a few select local property management companies. We also allow for the investor to self manage the property if they so choose.