All Forum Posts by: Jack Tucker

NEWS FLASH: Football is a religion in the SEC.  

It matters little if it's a win or loss.  @Jonathan Bethel  All that matters is it's game day in the south.  Last year, we made thousands upon thousands as vacation rental and the season record wasn't as hyped or as good.  

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Again, football game day weekends only accounted for a relatively small percent of the income this property produced in 2014 / early 2015.  Graduations; conventions; visiting parents; Alumni / Frat / Sorority get togethers; Church groups; Band Concerts; Marching Bands; Bachelor / Hen Parties; WEDDING parties are huge; Holiday stays, Family reunions; even funeral accommodations.  We've had a bit of everything and the people mostly come for the 5 bedrooms / 4 bathrooms and nearly 3000 square feet to be close to each other and to UGA or Athens downtown.

That's our "unfair advantage." @Brandon Turner

@Pancham G.

Congrats, Pancham and Monika.  Thanks for taking the leap of faith on this (what most naysayers call) CRAZY business model.  Now get ready for the Wedding season!  Now... Please stop telling folks how much money we are making down in Athens Georgia by University of Georgia ;)

Shout out to @Steven Duffee and wife Donna, whose blood sweat and tears helped turn this dilapidated condo into a money making beast!  Not a rookie anymore, and neither is his bank account.  

"You make your own luck."

or the corollary...

"The harder I work, the luckier I get."

Thanks for calling me out @Micah Redden

Bump

Talmadge, 

Congrats on finding and participating on BP. Congrats also on being in one of the hottest markets for deals in Athens GA. Consider coming out to our REA this Monday night (free of charge). 

Nevermind... I bought it and did it myself.

Awesome moneymaker! Looking at close to 50% profit margin upon completion.

@Account Closed ... for pointing out discussion items.  Would love to discuss your comments and clarify as needed. Couldn't resist just buying this duplex since it's another winner in the portfolio.

This is a Bona-fide duplex zoned for and approved by the county.  Here's the public record for Clarke county that hold answers to your doubt. Notice it says Duplex. In our jurisdiction, even a grandfathered use survives as long as modification is not made to increase density.  You are correct that there are other places to invest outside of Athens that are much less investor friendly.  Plenty of other data on here which is helpful instead of assumptions.  http://qpublic7.qpublic.net/ga_display.php?county=...

Here's the zillow page valued at $105k..
http://www.zillow.com/homes/317-springtree-athens-...

Please email me for the copies of the LONG TERM tenant leases. One guy just resigned a 2 year lease for $500.

Feel free to dial in PM and Vacancy for conservative numbers. Also use the BP calculators for a full list of CapEx planning, holding costs, etc, etc. This is what we call a "Hardened" an all-brick duplex with concrete walls, relatively new roof and septic among other things. Very low maintenance exactly how I like them. Come see the unit and the older tenants with their fixed income checks rolling in every month.

Diligence should always be done and judgement reserved until data rules the day.

Thanks again for looking. Would love to host fellow investors on a visit to learn about the strength of Athens investing! One of the lowest unemployment in the state, anchored by the University of Georgia, billions invested by large companies bringing jobs here such as Caterpillar, Johnson and Johnson, Baxter nearby, and a slew of great start-ups.

Yes David, you are more than welcome to. The Duplex was built in 1966.

What keeps the expenses low is that the property is all brick with concrete walls. The roof and the septic are relatively new. There is only one tenant per side, 1 bed 1 bath per side, and they have been long term tenants for a few years which keeps maintenance low and vacancy almost nonexistent. One of the tenants just signed for another 2 years. 

Vacancy is not included in the pro forma so that can add another 10%. Also a quick correction, the rent is $900 per month, not $950. 

Please feel free to keep the questions coming, and @David Tapia let me know what I can do to get you this property. If you live near the area I'd be glad to show you the place.

CASH COW all brick duplex less then a mile away from Kroger and Publix on the East side of Athens.

•Within 5 minutes from the University of Georgia

•Long term tenants in place at $950/month.

•Renovated and updated in the past month, EXCELLENT condition.

•TURNKEY at a discount

Zestimate: $104,693

We can connect you to local management who will manage this property for those of you who need it.

Asking: $69,900

YOU DON'T WANT TO MISS YOUR CHANCE TO OWN THIS TOP PERFORMING DUPLEX AND INSTANTLY START CASH FLOWING.

Please don't hesitate to contact me with any questions.

Fun Rehab Opportunity for a single family home on top of 1.7 acres of beautiful Oconee land.

Within walking distance from the Historic District of Bishop Georgia.

Plenty of room for upside

This is a 3BR/1BA 1080sf home that could easily have another bathroom added.

Zestimate: $163,224

Asking: $55,000.

Pro Forma:

Comps: