All Forum Posts by: Jon Acosta

This deal accidentally fell into my lap from a direct mail campaign for SFR in Gwinnett County Georgia.

ADDRESS: 2054 Mineral Springs RD, Hoschton, GA 30548

Property was on market but contract expired.
Owner is now SERIOUSLY motivated and ready to sell.

DETAILS:

Property zoned C-2 and appraised at $1.2 Million (I have a copy of the appraisal, less than 90 days old). 

Cap Rate: 9%

1.4 Acre Corner lot with a brand new Exxon across the street. 

Owner says a Walgreens was looking to lease the property but contract fell thru. 

There's also a rental house (4 bed 3 bath) that sits on the property.
It was grandfathered in after the property was re-zoned to commercial. 
Currently rented with tenants paying $1200/month.
Tenant is on a month-to-month contract and will move out with 60-day notice.

Feel free to give me a call or message if you're interested. 

404-625-1834
[email protected]

A tired landlord contacted me last week (via direct mail) offering 3 of their rentals for sale in Gwinnett County, Georgia. (2 SFR's & 1 Townhome).

I didn't think they were all that motivated. 

Then they called back again today (twice!), asking me to make offers on all 3 properties. 

Turns out they ARE motivated. 

Maybe a little stubborn... (they're asking 85%-90% ARV) but there's definitely a cash need and some wiggle room here.

Tried asking for seller financing, but they said they "need cash".

I'm looking to connect with a buyer here on BP before I waste anymore energy negotiating with this seller. If you're interested, please PM me.

Details:

Properties are located in the following cities-

• Sugar Hill (Townhouse - asking $169K)
• Loganville (3bed 2bath SFR - asking $99K) <- Caveat to this one... seller WILL take $50K down & the rest in payments over 2 years.
• Snellville (4bed 3bath SFR - asking $229K)

- Sugar Hill & Snellville properties both have tenants in place. 
- Loganville home is vacant at the moment but fixed up and move-in ready.

I can probably talk this seller down to 75-80% ARV. Just need to make sure I've got a buyer in place. 

Anyone in the market? PM me or give me a ring: 404-625-1834

I've approached the owner of a rental property in a B+ neighborhood asking for terms to purchase their home.

It's a 3 bed / 2 bath "move-in ready pretty house" that they've rented out for about 10 years.

Owner is asking $205K (I confirmed with a realtor that this is fair market value).
Rent is $1495/mo

I offered to pay their asking price if they held the mortgage for a period of time.

They came back with, "Sure, we'd definitely consider it. How long do you need the mortgage held? and what down payment can you make?"

MY STRATEGIES:

 1) Seller finance the deal with some attractive terms and then follow through, or turn around and sell the contract to a local investor in the metro Atlanta area (Georgia).

2) Create a sandwich lease option. (Put some money down and negotiate a lower rent for 3/5 years). THEN, turn around and lease option the home to a tenant/buyer with a higher option fee and higher rent. 

I'm pretty certain the owner still has a mortgage on the property, but will need to get details soon.

Before I present any offer to the seller, I figured I'd reach out to the community for advice.

What do you think? Any alternative strategies to consider here?

@Nathanial Dunne - Just sent you a PM. Looking forward to connecting.

EDIT: Ah! Can't figure out how to revise the post,
but let the record show that the down payment is: $6,000. NOT $2,000.

$6,000 down.
$200/month principal only payments for 60 months.

Price: 

$18,000

Owner Financing Available:
$2,000 down.
$200/mo. (principal only payments for 60 months)

Can be rented for $450 - $500/month

Repairs Needed:
$3,200 (cosmetic + 2 room window replacements)

ARV:
$26,000

3 Bed 2 Bath mobile home in Eatonton Georgia. (Putnam County) 

Water/sewage is connected to city. Brand new kitchen cabinets.

Must Sell!

Great mobile home rental property for investors in Eatonton, Milledgeville, Macon, or surrounding Middle GA area. 

Roughly $3,200 in cosmetic repairs needed. Asking $18,000 as-is (financing available). 

Call me for details: 404-625-1834

Call me for details: 404-625-1834

@Jason Hatfield Epic advice. And excellent observation. 

I know for a fact that some of the best deals I've come across have resulted from asking questions that I would normally be uncomfortable asking.

This is a noteworthy example of how stepping out of your comfort zone is the ONLY way to become a successful RE Investor. 

I commend you for writing this.
We can all sit here and research, learn, listen to the BP podcast, etc. all we want.
But it all comes down to courage. That includes asking thought provoking and actionable questions. 

@Ethan Atkinson, I handed this one off to a BP member in the Athens area.

However, I do have a similar property in South Eatonton that I'm wholesaling. Will PM you details. 

Up for grabs is a mobile home + 1 acre of land that I'm wholesaling in Eatonton, GA. 

Great opportunity for investors in Athens, Macon, Lake Oconee, Watkinsville, and Augusta.

If you're a wholesaler around the Eatonton/Milledgeville area:
I'm happy to partner up on this deal if you can find a cash buyer for the property. 

The Details:

Excellent 3 bed 2 full bath modular home + Separate 2 bedroom unit!

Both located on 1 acre of land in Eatonton, GA.

This is a sweet turnkey property. 

Great rental with minimal work and TONS of potential!

The Facts:

• The Property (both lots combined) are assessed at $60,000 by Putnam County.
  (Parcel 1 assessment and Parcel 2 Assessment)
• 2nd driveway contains a two room “man cave” with a large porch that can be rented out separately.
• Great unit for a cash buyer looking for a “Lake Rental” to produce cashflow.
• Entire acre can be split into two half acre lots.
• Property contains two water meters and two addresses.

Asking Price $33,400.

MINIMAL WORK NEEDED:

– New coat of paint in 2 of the rooms
– Few patches of drywall
– New carpet (or keep the current hardwood)

NEARBY ATTRACTIONS:

– In walking distance of Lake Sinclair parks and playgrounds
– Peaceful environment to kick back
– Short drive to the cities of Milledgeville, Athens and Macon.

Asking $33,400, but willing to negotiate. 
Plenty of meat on the bone for multiple investors on this deal.

MESSAGE me through BP or CALL if you're interested! (678-288-5404)

Hi BP,

I'm selling a 3 bedroom 1.5 bath cute single family "cottage" home located in Gainesville, GA.

Address:
1396 Enota AVE NE
Gainesville, GA 30501

This is a corner lot in the middle of a  super quiet & family friendly neighborhood.

Newly renovated by the seller. 
Looks brand new inside while keeping it's unique features and charm.

Fenced in back yard with giant deck.
Refinished hardwood floors. 

Looking for a cash buyer, as I am wholesaling this deal.

Great home someone looking for rental cashflow. 
Seller also has a list of local folks already interested in renting.

Asking $139,000 or best offer

Call me so we can work something out!
404-625-1834