Frequently Asked Questions

What is the difference between renting and leasing?

Mostly the words are used interchangeably and basically have the same meaning. Sometimes the word "renting" can infer a shorter term commitment while the word "leasing" is used for longer term contracts or when a purchase or purchase option is part of the contract.

Are pets allowed?

Is smoking permitted?

Yes and no. Pets and smoking are a landlord's two biggest concerns because of the damage they can cause to a home over time. We absolutely do not rent to smokers period. This keeps our properties smelling nice and fresh for our future tenants to enjoy. Outdoor pets and some smaller indoor pets can be considered, however we do charge an extra pet deposit which can range from $400 to $1000 depending on the type size and number of pets. Larger indoor pets will not be allowed. Fish and pet rocks are okay.

How do I submit an application?

An application can be given to you at the same time you view one of our properties. If you are out-of-town we can fax or email an application to you. Contact us at (770) 442-2834 or sdobson@mindspring.com .

My credit report isn't perfect, will you still rent to me?

During our screening process we check references, verify employment, and pull a credit report. Having less than perfect credit, in most cases, is not a problem. However, if you have a history of not paying your obligations, judgment liens, etc.in other words if you have really bad credit, we may choose not to rent to you. If you had problems in the past from situations like loosing a job, divorce, etc. but are now back on track, we will probably be glad to work with you.

How does a "lease / purchase" or "lease / option" work?

Our number one, most widely asked question. We will consider Lease / Purchase arrangements or Lease w/ an Option on many our properties. There are really three different arrangements which we will consider.

First and the most basic is a Rental Agreement that contains a "Good Faith Purchase and Sale Clause" which basically says that after the tenant rents the property for a certain period of time (usually one to two years), we will agree to enter into negotiations pursuant to selling the property to the tenant, if the tenant wishes to buy the property. The purchase price is not set in the rental agreement, but is determined based on the market conditions that exist at the time of purchase. Although there is no guarantee of the future price of the property, this arrangement does not cost the tenant anything extra in the way of a down payment, option money or additional monthly rent. This type of arrangement is commonly used when a tenant has moved into the area from out-of-town and wants to get familiar with the area before deciding to commit to a purchase.

Secondly, there is the a "Lease / Purchase" agreement which is really a Lease Agreement and a Purchase Agreement that are tied together. In this arrangement the tenant commits to leasing the property for a certain period of time and also agrees to buy the property at the end of the lease period. The purchase price is agreed to and set up-front, so the tenant gets the benefit of any future rise in the property value during the lease period. The Landlord will collect a non-refundable down payment on the property which usually ranges from 3% to 6% or more depending on the property. Additional monthly amounts can be added to the lease to be applied to the future purchase. A Lease / Purchase is a lot like a "lay-away" plan at a department store. You can lock in the price of the property and work over time to pay toward the purchase. This arrangement also works good for buyers who need time to clear-up credit problems, get established in a new job, etc. The number of months in the lease, purchase price, down payment, monthly payments, etc. can be set-up differently depending on your exact situation and goals.

Thirdly, the Lease / Option is very similar to the Lease / Purchase with the exception that the tenant has an "option" to buy instead of being contractually obligated to buy. Typically this arrangement allows the tenant to exercise the option during a window of time. For example, the lease might allow the tenant to rent for one year then have the option to buy at any time after the first year but before the end of the third year. The purchase price for the property is set up-front but usually increases in predetermined increments. With a Lease / Option the tenant pays "Option Money" in addition to the security deposit. The Option Money is applied to the purchase at closing, but is non-refundable if the tenant chooses not to purchase the property. The Option Money amount can be 1% to 5% of the purchase price depending on the other factors in the contract.

The bottom line is: If you have a special requirement that you would like for us to consider, please ask. We can get creative.

Do you offer owner financing?

Yes. We offer two types of owner financing on properties.

First there is "bridge financing" where we will finance up to 95% to 100% of the purchase price, but only for a short period of time such as 3 to 6 months. This is typically done with "As is" properties that may require some repairs or renovations. The buyer will purchase the property from us with our short term financing, make the needed repairs, then refinance the property with a bank or traditional mortgage lender based on the new after repaired appraisal.

Secondly, in some cases we will hold back second mortgages on the properties that we sell. Depending on the property and other factors in the deal, we may consider holding a second of 5% to 20% of the purchase price. Many times this allows the buyer to purchaser the property with a smaller down payment and avoid PMI (private mortgage insurance) and other cost associated with high LTV (loan to value) mortgages.

I don't see a property on your site that meets my exact needs, do you have others?

Yes, we are constantly buying foreclosure properties in Cherokee, Forsyth and North Fulton Counties. Give us a call or send an email with your requirements and we will notify you when a property becomes available that may meet your needs.

Exactly where around Atlanta are your properties located?

Click here for a Georgia County Map

Our properties are located North of Atlanta in Cherokee, North Fulton, and Forsyth Counties. All three counties are located just north of the Atlanta Metro Area and have good access to main highways going in and around Atlanta. More and more people are choosing to live in these areas because of the good access to Atlanta, without having to deal with the congestion of counties like Cobb, Dekalb, Gwinnett which have already become over built and crowded.

Woodstock is the largest city in Cherokee county and is located 30 miles north of down town Atlanta and 18 miles North of the Atlanta perimeter with good access via highways I-75 and I-575.

Roswell and Alpharetta are the main cities in Northern Fulton county. Roswell is 20 miles north of down town Atlanta via GA Highway 400. Fulton county is very developed and has large shopping centers and malls.

Cumming is the county seat of Forsyth county located 38 miles north of down town Atlanta via GA Hwy 400. Forsyth attractions include more rural living but with good access to shopping and other services. Lake Sidney Lanier is located in Forsyth and is popular for boating and fishing. Forsyth is one of the fastest growing counties in the United States.

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