All Forum Posts by: Karam A Tascoe

Thanks for the comment. I like the BRRRR process but I also like not having a mortgage. I haven't spoken to a bank yet. Do you have any recommendations for portfolio lenders in middle/southwest GA?

 The auction company did the title search and I purchased title insurance through them. Send me a message anytime. I would love to share what i know.

 I see you're in Beaufort County. Small world as I live in Bluffton.

 I used a contractor for the renovations.

@Sanjeev Kaushik I currently own 2 properties in Columbus GA. One is being renovated and the other is completed and rented out cash flowing nicely at $1050/month on a $37500 total investment. I am also a licensed Home Inspector. If you are interested in partnering with someone please feel free to contact me. I can inspect any home you're interested in as well.

Investment Info:

Single-family residence buy & hold investment in Columbus.

Purchase price: $25,700
Cash invested: $12,000

4br, 2ba in Columbus GA

What made you interested in investing in this type of deal?

The low cost of entry and return on the investment made me interested in investing in this type of deal

How did you find this deal and how did you negotiate it?

I found this deal on an auction website

How did you finance this deal?

I financed this deal using my cash savings

How did you add value to the deal?

I added value to this deal by having my contractor lined up and being able to manage the renovation

What was the outcome?

The outcome was a beautiful renovation and a 12-month lease with amazing cash flow.

Lessons learned? Challenges?

The biggest lesson I learned would be to find partners so you can leverage resources and investment in multiple properties at once

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I did this deal on my own

Well, I am pleased to say that I finally got my first property in Columbus GA renovated and rented. I purchased the property on auction dot com for $25700. Renovations costed $12,000. 

I am all in for $37,700. 

On December 31st I signed a 12-month lease with my new tenants for $1050 a month. Can you say super excited! Now I am trying to decide whether I should refinance and take the cash out or just keep it going and save up the cash to repeat the process in another year or so. I purchased and renovated using my savings so I don't have a mortgage on the property.

@David Goings I will message you my phone number and the addresses so we can talk about it and maybe discuss some other properties as I am focused on Columbus and middle GA. My Reno numbers are solid. My Contractor an I visited both properties and he provided the quote for services and materials. I cat guarantee the Refi numbers its pure speculation based off of comps in the areas and previous sold prices