All Forum Posts by: Keenan Smith
Keenan Smith has started 20 posts and replied 37 times.
I have a ten lot mobile home park in Rome, GA that I need financing for. The purchase price is 140K, the NOI is 18K per year. Any suggestions would be welcome. Thanks!
Post: Looking for advise on the purchase of a mobile home park
- Atlanta, GA
- Posts 37
- Votes 3
The cap rate is to low to consider purchasing. I would look for between 10-12 percent cap rate. 280K for the homes? That's more than 10K for each home. They must be in pretty good condition. I wouldn't price a park for its potential performance, but it's actual. He may be able to get 1.25 for the park, but not if you have to borrow the money, you can't afford to be in a negative cash flow. Most lenders have a DSCR of at least 1.05 just to make sure you don't default.
Post: 290K cash price 75K profit in ATL, 60K rehab, 485K ARV
- Atlanta, GA
- Posts 37
- Votes 3
Cash Price 290K OBO
ARV 485K
Rehab 60K
2494 Nancy Ln NE
Atlanta, GA 30345
- Single Family on Land
- 4 Bedroom 3 1/2 Bathroom
- Built in 1966
- 2884 Square Feet
- 2 Car Garage 400 square foot
- 1.4 Acre lot
- https://drive.google.com/open?id=14y4RdhH0ncLRIVVn...
Contact Us
Jeremy Tonjes Keenan Smith
(678)328-0589 (678)787-1912
Cash Price 305,000 OBO
ARV 485k
Rehab 60K
2494 Nancy Ln NE
Atlanta, GA 30345
- Single Family on Land
- 4 Bedroom 3 1/2 Bathroom
- Built in 1966
- 2884 Square Feet
- 2 Car Garage 400 square foot
- 1.4 Acre lot
- https://drive.google.com/open?id=14y4RdhH0ncLRIVVn...
Contact Us
Jeremy Tonjes Keenan Smith
(678)328-0589 (678)787-1912
Post: 50K Profit, located in a newly gentrifying neighborhood
- Atlanta, GA
- Posts 37
- Votes 3
ARV is 498K, rehab is 75K, holding costs and commissions 48K, leaving 50K
- https://drive.google.com/open?id=14y4RdhH0ncLRIVVnbG20dB7HiEtbL3rz
Post: 100K Profit Flip in Sandy Springs Georgia
- Atlanta, GA
- Posts 37
- Votes 3
Cash Price 450K OBO
ARV 675K
Rehab Remaining 120K
1544 Huntingdon Trail
Sandy Springs, GA 30350
- Demo started, permits have been applied for, you just need to finish the rehab and collect your profit
- Single Family on Land
- 5 Bedroom 3 1/2 Bathroom
- Built in 1966
- 3358 Square Feet
- 2 Car Garage
- 1 Acre lot
- Pictures https://drive.google.com/open?id=0B_JjcQm1qCqfcXg4alg3Y05LbGM
Contact Us
Jeremy Tonjes Keenan Smith
(678)328-0589 (678)787-1912
Post: Huge Lawrenceville Parcel!! Rental property!
- Atlanta, GA
- Posts 37
- Votes 3
- Single Family on land
- 3 Bedroom 2 Bathroom
- Built in 1978
- 1.17 Acre Parcel
- Recently Vacant
- 1331 Square Feet
- 2 Car Garage
- Additional Bed and Bath in Garage/Basement
- Market Rent $1500
- Paint and Carpet will Make Rent Ready
- Pics https://drive.google.com/open?id=0B6gN8ZTbCPfhWjFONDZFVWNlV1U
Contact Us
Keenan Smith
(678)787-1912
Jeremy Tonjes
(678)328-0589
Post: The Intricacies of Commercial Real Estate
- Atlanta, GA
- Posts 37
- Votes 3
I need some guidance for an off market property that a seller wants to sell. It is a 20000 square foot property in the Mableton area. It has a large room and several offices. I am looking for a partner that will help guide me through this. Any comments and help is appreciated. Thanks!
Post: Stone Mountain Flip, wholesaled, ideally a local equity partner
- Atlanta, GA
- Posts 37
- Votes 3
I would be willing to contribute to the deal. What did you have in mind?
Post: Stone Mountain Flip, wholesaled, ideally a local equity partner
- Atlanta, GA
- Posts 37
- Votes 3
Please contact me for more information. This is a fantastic opportunity to make a 20k profit or more if you are able to shave the rehab. We have this property under contract and we are looking for an equity partner to help finance the flip or in lieu of that a purchaser for the assignment. The ARV is 125k and the rehab budget is 25K. I have more pictures and a scope of work. Please let me know if you have any more questions. Thanks!