All Forum Posts by: Pete Galyon

 NICE!  Yeah. I'll visit the beach. Not sure I like it for investment.  

 Thank you my man. It's been successful thus far and I plan on doing it again until it's not. Would love to hear your experiences and next project. 

Investment Info:

Single-family residence buy & hold investment in Ellijay.

Purchase price: $300,000
Cash invested: $70,000
Sale price: $450,000

BRRR method using an STR property that has projections in the 75k gross range

UPDATE -- did rent well. Used it for a personal home way more often than anticipated> Loved being there with friends and family.

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

This market is fun and interesting. There are so many options for great investments in both of the areas I serve ( Gatlinburg and also Blue Ridge GA) I love being able to get a report from the property manager on every turn to know if there were issues or positives about the previous stay.

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

On market. Offered at asking price $265k ( those days are gone LOL) and got my commission as well :)

How did you finance this deal?

20% conv

How did you add value to the deal?

Stunning furniture and features, two bathroom reno and pretty much new everything walls in.

What was the outcome?

136k in profit over 2 years

Lessons learned? Challenges?

know your HOA and make sure they are favorable toward STR. This one was, but could have been a shock to a newby

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

I am an agent who has sold hundreds of Air BNB and have amazing and creative partners including lending

PREVIOUS AIR BNB PROPERTY   <--------- link to previous Air BnB we flipped

Some say that numbers are down for Air BNB and I'm here to tell you it is all in how you look at ( and structure it ). 

This, our third rental, we plan to do the BRRR method with as we have the other two that are now owned by fortunate new owners over in my other market of Blue Ridge GA. This place was bought at a sweet price of $595K and $15k in seller concessions. The comparables for the resale on this home are in the 825k - 850k range which of course, makes this guy happy :)  ITS an UGLY DUCKLING and I love ugly ones that need improvements THUS adding value when we improve the home AND increase the ROI from the monthly income standpoint as well.

AIr BNB just put out a report that in the past 2 quarters the occupancy over the top 10 major markets has been steadily going back up by 7- 9% per quarter and may be back to pre 2021 numbers by 1st quarter next year. That's promising and has me buying properties once again. 

BLACK SWAN. 

YEAH ... me too. However, there are so many deals up there and i am going to start posting them here for all to see. Good returns and great equity as well. Seeing so many sellers drop prices and leave money on the table for the new owner. 

  LINK IN POST BELOW 

This is an amazing opportunity for some lucky buyer to ( or capital group ) to invest in the beautiful Smokey Mnts. 

Not going to say much more here, but I dare say that the critics who say STR is dead or dying are not looking at the right properties and more investors need to lean in on agents like me who are truly experts. Agents who know how to find the deals, evaluate the potential, and provide resources to help make their investment thrive.

Yes, this one is a unicorn and kind of a high PP, but this is a prime example of what works in these areas and will absolutely blow away other RE investments.

this is not my listing.

https://www.zillow.com/homedetails/2006-Thistle-Thorn-Trl-Se...

Investment Info:

Single-family residence fix & flip investment in Chattanooga.

Purchase price: $210,000
Cash invested: $40,000
Sale price: $360,000

BRRR
I do two or three of these type flips per year. Have a proven strategy to find good value adds. Chattanooga and Knoxville are always named top places to do a BRRR in the US and last week Chattanooga was named the best place to retire in the entire US! Great opportunities here and blessed to be in this business.

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

I saw the scope of work was simple and straightforward. Time to acquire and reno was short. Rent in this area was very high as well and when I sold the property I also cleared 90k on top of my cash out ( 123k only 4 months in ).

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

Coming soon on MLS> called agent and said Id give ask price, no inspection( Inspector was with me during walk through ;)

How did you finance this deal?

Conv 20%

How did you add value to the deal?

The home was a 1950s beauty that had never been remodeled. Check out the pics. I did ALL the trendy and inexpensive things to make it standout

What was the outcome?

Happy Camper

125k profit over 1 year including $300 month rent

Lessons learned? Challenges?

All went well. Had to replace AC. set me back 9k unexpected

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

Me. Im an agent

Sent Pm 

Hey all,

Take a minute and look at this video. This property is an immediate passive income producer. For those of you first timers, it doesn't get much better than this. Contact me to get more info.

Pete
CLICK HERE----->      https://vid.us/msnyil

Schedule a consultation ----->    https://calendly.com/pete_the_...