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All Forum Posts by: Mike Williams

Mike Williams has started 139 posts and replied 242 times.

Post: Outstanding Investment Opportunity!

Mike Williams
Posted
  • Investor
  • Dalton, GA
  • Posts 244
  • Votes 35

This fully leased 4-unit multifamily property has been thoughtfully remodeled to enhance both curb appeal and long-term durability. Major improvements include a new roof (2020), new siding and gutters (2021), all new windows, granite countertops, and ceramic tile flooring throughout—completed in 2021. Each unit is well-kept and features stylish, modern finishes that attract and retain tenants. Tenants cover their utilities (water, power, and trash), keeping owner expenses low. The property generates strong annual gross income from four units—two 1 bed/1 bath and two 2 bed/1 bath. This turnkey property offers minimal maintenance and excellent cash flow potential. Ideal for first-time investors or those looking to expand their portfolio!

Located at: 1775 Westside Circle, Rocky Face, GA

Listed at: $425,000

Give us a call if you're interested!
📱706-271-6549 | Selling North Georgia⁠
☎️706-459-3107 | Keller Williams Greater Dalton⁠

Post: Prime 0.71-Acre Property with 2,511 SF Building on GA-225 – $115,000

Mike Williams
Posted
  • Investor
  • Dalton, GA
  • Posts 244
  • Votes 35

Unlock exceptional potential with this recently upgraded 0.71-acre property, featuring a 2,511-square-foot building ideal for residential, duplex, or commercial use. Highlights include:

10-foot ceilings
🏠 New roof
🚽 Updated septic lines
💧 New water meter

📍 Strategically located with easy access to Chatsworth, Dalton, and Cleveland, TN—just 25 minutes away!
🌾 Zoned agricultural with strong development potential.

📱 Call 706-271-6549 | Selling North Georgia
☎️ Call 706-459-3107 | Keller Williams Greater Dalton

Post: Outstanding Investment Opportunity! Located in Rocky Face, Georgia

Mike Williams
Posted
  • Investor
  • Dalton, GA
  • Posts 244
  • Votes 35

Turnkey 4-Unit Multifamily Investment Opportunity – Fully Leased & Recently Renovated!

This fully leased 4-unit multifamily property has been thoughtfully remodeled for enhanced curb appeal and long-term durability. Major upgrades include:
✅ New roof (2020)
✅ New siding & gutters (2021)
✅ All new windows
✅ Granite countertops
✅ Ceramic tile flooring throughout (2021)

Each unit boasts modern finishes that appeal to quality tenants and help ensure high occupancy. With two 1 bed/1 bath units and two 2 bed/1 bath units, this property brings in strong annual gross income.

Tenants pay their utilities (water, power, and trash), keeping your operating costs low. This turnkey property offers minimal maintenance, excellent cash flow, and is perfect for both first-time investors and experienced portfolio builders.

📞 Interested? Let’s talk!

Post: North Georgia Investing

Mike Williams
Posted
  • Investor
  • Dalton, GA
  • Posts 244
  • Votes 35
Quote from @Kevin Peace:

Hey all,

I'm looking to start my investing journey in North Georgia. Currently live in Acworth so would love to buy my first rental within driving distance. I've been looking at properties in Cartersville, Rome, and even up by Chattanooga. Are there any experienced investors in this area that could help maybe point me in the right direction when it comes to possible areas/strategies. Ideally, I'd like to BRRRR. Thanks.


 Hey Kevin, I live in Dalton and invest in the 5 County area surrounding me. I also lead an agency in Dalton (Selling North Georgia Team), part of Keller Williams Greater Dalton. 

would love to connect and learn more about what you are looking for!

Post: General Contractors in the Blue Ridge Area

Mike Williams
Posted
  • Investor
  • Dalton, GA
  • Posts 244
  • Votes 35

I am about an hour away from BR, and have a crew that takes care of my STR in Ellijay. Exactly what are you looking to do for upgrades? I may be able to get my guys to travel over.

Post: Blue Ridge GA STR restrictions

Mike Williams
Posted
  • Investor
  • Dalton, GA
  • Posts 244
  • Votes 35

Interesting read above about Union County limiting it to 5%...I didn't realize that. I'll do some research and learn more. I have a short-term in Gilmer County, the government there is pretty laid back from what I've seen, as long as you are not in the downtown area.

Post: Cartersville GA Rental Properties

Mike Williams
Posted
  • Investor
  • Dalton, GA
  • Posts 244
  • Votes 35

Hi Luther,

I work primarily a little north of Cartersville, but I do pay attention to that market and one of the agents I work with closely is focused on Cartersville. I've been seeing a steady rise in vacancies over the last few months (from basically zero, so it's still pretty solid). I typically factor in at least a 5% vacancy rate, but given the shift in the market in the recent months, I would probably up it a little to 7.5% as a minimum, then discount further if there are other factors that would cause tenants to hesitate on signing a lease.

Other than that, I do like the Bartow County market, there have been a ton of jobs created in the area over the last couple of years, and it's still close enough to north side Atlanta that plenty of people commute into the city. Happy to share more thoughts when we chat tomorrow! :)

Post: First STR Purchase - Existing STR in Blue Ridge, GA

Mike Williams
Posted
  • Investor
  • Dalton, GA
  • Posts 244
  • Votes 35
Quote from @Hyunjae Chung:
Quote from @Mike Williams:

Hey Charles,

Congrats on getting in the game! I am an agent in North Georgia, and an investor with an STR in Ellijay, just south of Blue Ridge. You are correct that it is extremely difficult to find a cash-flowing property right now. Cost of debt is higher than usual (at least lately), and the past 2 years of appreciation has made it "expensive" to purchase.

I experienced a 52% occupancy last year, but also utilized my cabin personally a significant portion of the time so it caused me to be a little lower on the occupancy. I believe your 60% is a fair assessment. We also have a long gravel road getting to our property, so it becomes a little tough to access at times, and because of it's remoteness, it does lose power 3-4 times/year. We only charge $125/night but probably ought to be more. It's 6 acres, on a small 10-acre lake. 

I did the math on your payment - are you getting a 6% interest rate on a second home? Borrowing $342,000 at 6%, 30yr fixed is amazing right now. Wow, that's impressive...is the seller buying the rate down for you? My mortgage girl is quoting much higher on a second home with 90%LTV right now.

I will say that my operating expense for my little cabin (roughly 1000sqft) is higher than $681/month. Here is the breakdown of our real expense:

Our repairs/maintenance were $514/month last year. This could've been lower by about 30%, but I chose to do a couple of upgrades that could be considered capital expenditures (Cap-ex is a term that you'll need to get familiar with!).

Our cleaning fees were $6,860/yr so $571/month. 

Our utilities were $223/month. 

Our expense to host on VRBO was $499/yr, so $42/month. 

Insurance was $867/yr, or $72/month.

Property tax was $102/month. 

That's a total expense for us of $1,524/month BEFORE debt service (your mortgage expense). 

Our gross income was $23,963 for 2022, or $1996/month.

My mortgage (I refinanced a couple of years ago when the rates were low) is $654/month, so negative cash flow by -$182/month. I certainly would not want you to get negative cash flow, simply telling you what my real numbers are.

In my particular situation, the cabin is worth every penny, because I'm literally sitting in it right now, on my birthday, enjoying nature and about to go fishing with my 65 year old father. :)

Again, not advising you, but there is a part of the picture for me that also needs to be seen. That interest expense from last year (for me) was a tax deduction of $5,340 at a 29.75% tax rate = $1589 actually saved in tax dollars. 

I also got a depreciation of the asset (again, for me) of $4,909, and at 29.75%, that's real money bottom line to me of $1,460 last year. 

So - for me - the positive cash flow from owning the asset and having the deductions was $3,049, the negative real cash flow from operation was -$2,184, resulting in a real net positive cash flow of $865...AND I spent around 20 days at the cabin last year, allowed my dad to stay 4 nights, and donated 6 nights to charities of my choice.

I hope this was helpful to you and others. It was not meant to be prideful or anything other than just trying to be helpful and provide value to the thread, as well as help a newbie understand and see some REAL numbers. :) 


 Do you charge the cleaning fee towards the guest?

Yes. The gross revenue from VRBO includes the cleaning fees that we collect, and then we pay the fees to the cleaners.

Post: Rental markets around Atlanta

Mike Williams
Posted
  • Investor
  • Dalton, GA
  • Posts 244
  • Votes 35

We consistently see solid cash flow rentals here in North Georgia. Here's a deep dive on a duplex we closed a couple of weeks back:

367 Old Cottonwood Mill Rd, Tunnel Hill, GA 30755

Sale Price: $155,000

Revenue: $18,000 (below market, new owner increasing to $21,600)

Mortgage with First National Community Bank: 20% down, 7.75% rate, 20yr Am = $1017/month ($12,204/yr)

Taxes = $810/yr

Insurance = $755/yr

Repairs = estimated $1800/yr (10%)

Vacancy = estimated $900/yr (5%)

Total profit after Debt service and with current below market rent = $1,531

Total profit after debt service AND with market rent of 900/mo each = $5,131/yr.

Add in the tax advantages like deductions and depreciation (talk to your CPA), and seems like a really solid deal! 

Post: Possible move to Atlanta area in 6 months - good / bad areas?

Mike Williams
Posted
  • Investor
  • Dalton, GA
  • Posts 244
  • Votes 35

I love the yield/returns here in Northwest Georgia. We have seen a faster rise in rent prices than in sale prices, and it is an area with a great manufacturing base that continues to expand from flooring into other areas (like the Q-Cell solar plant, Gedia Automotive, and others). If I can help answer any questions for the North Georgia area, just let me know.