All Forum Posts by: Charlie Anne

@Nic S. thank you for sharing your target numbers, it’s so helpful! 

It’s in the suburbs of Atlanta. What market are you buying in currently? 

@Ceasar Cifuentes partnering is a good idea! 

@Alec Rosario I am thinking of doing a flip! Maybe I will pursue that instead. 

@Brian Mittelstadt this would be the first house. 

@Darius Ogloza that’s a good point. 

The $20k estimate is solid. It’s an itemized list of required repairs plus margin of error. 

@Eric Jones thanks! 

Curious... what are your criteria?

I am getting to be “too close” to this deal so... would you invest in this?

I’m already under contract but can back out during due diligence.

-118k price 

-7.5k closing costs (so high!)

-20k repairs

= $145k all in

-ARV is 160k

-Rent $1350

-$175 cash flow/mth

So all in all there's low CoC at around 3%. Requires $51k out of pocket. The area appreciates quickly.


I suppose my hesitation is that it requires a lot of work to renovate and maybe my $50k could be more efficiently used elsewhere. On the other hand it took me forever to find a deal that cash flows. 

Would you buy this house?

@Soh Tanaka thank you for the feedback! I did end up moving forward with a mortgage. Closing costs are quite the reality check. 7.5k?! 

I am about to close on a house and I’m trying to figure out the best option: cash close & refinance vs 3.5% mortgage right away?

The home needs 6 weeks of repairs. 

What do you recommend? 

With cash, I suppose there are lower closing costs now, and I wouldn’t be paying a mortgage right away. I know there will be closing costs for the refinance.

I want to follow the numbers, I’m having a hard time making accurate estimates.

@Dennis Cosgrave that’s great advice, thanks! How long have you been in the motel business?