All Forum Posts by: Eugene Beard

@Brie Schmidt Just for me because I'm Dumb what is a Schedule E and YTD P & L.

thanks! 

EB

@Alex Hively yes your numbers are right but to really determine which ROI is best you have to know more information like the COC goes down as your ROI goes up in this case? with the 10%ROI what is the profit per door? not forgetting about CAPEx but i forfet how to determine that. Because I have a duplex and my COC is high but my ROI is low but only because I only paid 2K for a 200K home and live for free. So its all about what you are going for.

I hope this helps.

That Gross Income seems low only $475 for rent per door. Have you used rentometer or another analysis tool to determine if that is current market rate or can you increase it?

It seems like you didnt list if it needed repairs or not. does it? how old is the roof, the home, the electrical, the paint, the water hear or A/C?

Check those thing out to get a better idea.

Your property management is suppose to be 10%( i thought is the general number to use) looks liek u have 8% or so there.

Let me know if these things improve your numbers enough.

What ration of cash on cash or Cap were you looking for to get?

@Ian Brown Welcome to BP! plently of people to meet a work with. I always like to talk shop anytime!

Hello Brandon,

I am interested in working together.I am looking to work with other investor working in the small multifamily area. I mainly focus in the norcross area but am interested in expanding to other areas with great comps.

Lets link to discuss further.

@Alex Babayev Congrats! look at what @Michaela G. said. thats what I am doing as we speak! I got 0% down though im a little different. but with a FHA loan you can do 5%(dont quote me on that cuz it might be 3.5% or 10%) but i know its lower. Are you able to do that?

Hey @Ross Williams

Welcome to BP. Plenty of information here to get you start on diversifying your paper assets. I am also looking in  that area as well. Im focused in the cheaper side (Norcross, Embry Hills, North Druid Hills) on the interior and exterior of the north 285 area but I still may be able to provide assistance and work together. PM me as well to talk further! 

Im still fairly new but Im ready to work and connect with others that are interested in the same area as me.

@Josh Young Not sure because thats the main one I know. just vartiaions of renting out per bedroom instead of as a whole. craziest one I was going to do was live in the shed out in the back of a 4-plex. It was a unregistered 5 plex and it sat outside of a rehab facility in the city. Because city rents are so crazy I figured it was worth it. but it basically was about the size of a jail cell!

Other crazy things i can think of is not live in the house at all, check land zoning for ways to spilt a home get more value, bundle multiple services(insurances,power, water, etc) of the home through one provider then charge a base rate to the tenants plus overages. not many thing i can think of short of lie/cheat/steal  to rip off someone and take advantage.

@Germain Mopa Welcome to Atlanta! I am on the Eastside. (Norcross area).   I just started with my first home in July! Duplex and I ma working on my next deal.I did house hacking and live for free. I deal mostly in wholesaling and multifamily on my side of town but Im here to talk as well. good luck on your real estate journey!

Eugene Beard great to hear stories like this! BP sometimes feels like a large support group where each person who is ahead of the other encourages the person behind to take that next step.

I will take your advice and chew on your post some more down the road. Good luck to you as well.

I'm not at this stage just yet but what is your recourse in GA when a tenant doesn't pay?

@Kevin O'Brien Im not exactly sure to be honest with you.I am hoping giving them 30 days to move out will be enough not to have to persue them in court. this is one of those cases where I dont want the back rent they owe me I just want them out. I have plenty of other offers to refill the room so IDK what the normal process is but If heard horror stories about court system so Im trying to aviod that entierly.