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Investment Properties in Fulton County : Real Estate Advice

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  • Home Buying31
  • Home Selling0
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Activity 87
Mon Oct 23, 2017
Cgappraiser answered:
Google the zoning District and then look for permitted uses. There will be a comprehensive list of permitted uses.
MEP
Appraiser
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Thu Oct 19, 2017
Gekiganger asked:
I was wondering if there were any properties in the atl metro area that would be suitable for a wedding venue?
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Sat Jul 29, 2017
Kathy Burgreen answered:
You need to work with a local realtor for your situation. Real estate websites do not have search filters to separate which condos have restrictions and which don't. Realtors restrict what information is sent to Zillow, Trulia, etc. because they need consumers like you to call them for the missing information. The MLS systems have far more search filters but the MLS systems are owned by realtors who pay annual fees to access it.

As for condos having rental restrictions, most condos do for 1 major reason. You need to know that when owners need to sell their condo, their buyers are required to meet their lender's rules for borrowing money to buy that condo. A MAJOR RULE that lenders use is to verify the condo has a majority of owners occupying their units. Lenders will refuse to lend money to buyers if the condo complex has too many renters. This leaves the seller to lower their asking price to attract cash buyers only. If that 1 seller lowers the purchase price a lot, it sets up all future sellers to lower the value of their condos. What will happen next? The first seller will pick a fight with you and most likely sue you in court. Do you have money to pay an attorney?

For this reason, most HOA's REFUSE to allow a high percentage of rentals in their complex. It's much easier and less stress to restrict the number of rentals at any one time. This way when owners need to sell, there is no bitter fights between neighbors and no pending lawsuits against neighbors. So in your case, you need to buy a house that is NOT in an HOA community.
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Thu Jul 27, 2017
Scott Godzyk answered:
Technically no, you should assess what the condo is worth in today's market and sell it at market price. The lease just ends
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Sun Jul 23, 2017
J Scott asked:
I'm looking to find a good broker that is confident he/she can find solution. Cash out is for some debt consolidation and also downpayment on future purchase in Atlanta.
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Tue Jun 20, 2017
Kathy Burgreen answered:
Yes you will have major problems. The following is a list of issues you need to be aware of:
1. Foreigners can buy real estate in the U.S. but it requires a large down payment - about 30%.
2. Foreigners will need to pay a FIRPTA tax when they sell any property in the U.S. You need to Google "FIRPTA" to find out the requirements.
3. Homes that resell soon after the buyer bought it does not always sell for more money. It can sell for less money and you (the buyer) can suffer a loss.
4. How knowledgeable are you with the neighborhood that you are buying in? If you need to rely on a realtor for everything, then you will be paying more for a home than it is worth. Realtors can take advantage of foreigners because all a realtor is interested in is earning a commission for selling a home. They don't care whether you pay too much or not.
5. Americans know more about the neighborhoods than you will and know what the true value of homes are in their neighborhoods. You will be at a disadvantage.
6. There are some things realtors can't give opinions on because of Fair Housing laws. How knowledgeable are you with obtaining your own information?
7. There are many types of homes in the U.S. You need to know the different types and what you can afford.
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Fri Feb 24, 2017
Shell_libra99 asked:
We are torn because we want to buy a $300-350K house, (to sell in 5YR) but we do not need a big house (running exp is high), currently renting apt.
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Wed Feb 15, 2017
Gabi asked:
Hello everyone.

I am searching for buy-to-let property management agent specialized with foreigner investors. I am looking for east coasts properties.
I am located in Israel, and have…
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Fri Feb 10, 2017
Manojs1234 asked:
Hello, I am an out of state investor and am looking for a real estate agent in Atlanta area who could help me short list properties, provide input about neighborhoods etc. Below are some…
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Mon Dec 26, 2016
Angela Kelley answered:
Wed Nov 16, 2016
Tony answered:
Hey Shaday

If you are still looking, I just happen to have one right there in Hiram, Ga for you. I live next door to you in Dallas. Give me a call if you are still looking.

Tony
office: 678-720-1447
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Thu Nov 3, 2016
Sunflower911 asked:
My international number is not being recognized which begins with 44. Can you have one of your agents contact me via email - sunflower911@live.co.uk
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Wed Aug 3, 2016
Faraz Mehmood asked:
Hi! I am not a US citizen or resident (but do have credit history in US). I would like to get a mortgage in Atlanta. Is it possible?
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