All Forum Posts by: Robbie A.

Congratulations on your first deal, Joe. Sounds like a good one. 

I'm looking at getting a builder's risk policy through REI Guard and they seem to have reasonable rates (at least for that policy, not sure about their landlord policy). Do you mind sharing the property management company that is currently in place? 

On my first flip and about to close on two duplexes. Following until the next two deals. Great idea!

Awesome information here. I have a possible seller (not sure how motivated they are yet) from a driving for dollars lead and this is exactly the questions I need to ask. Thanks @Ryan Dossey

@Derrick Jordan, when you say there are places in ATL that sell what you need for a rehab at 1/3 the cost, what do you mean? I started renovations on my first buy-and-hold today and would love to know where you get your supplies/appliances. Thanks!

@Rush Wall been looking hard for about a month or two. This was actually brought to me as a flip initially but I saw rent prices around here and thought it may work as a buy and hold too. Either way I figured worse case scenario I just flip it for $125-130k. 

But this is why I brought it to y'all. I'm ready to invest in the right property so if this isn't right, I'm ready for the next one. 

@Matt W. that's a good question and my answer is I don't know. So there's a lot of acronyms going on, which numerator should be used with the ARV?

Thanks for all the input!

@Brent Coombs $130,000 is a semi-conservative ARV; max is $140k and minimum would be $115k.

Just to be clear, when you say, "delayed financing," you mean seasoning out the property for six months, pulling out 70% equity with a mortgage broker and moving on and purchasing the next property? 

BRRRR strategy is my priority so I want to make sure I'm on track. Thanks so much for your input!

Hey everyone,

I'm starting to get sweaty palms just thinking about typing this out as it would be my first property and it's all cash (would love anyone's opinion on financing with private money would be better or not... Probably a stupid question). 

The home is located in the Hammond Park area and I've attached the BP Rental Property Calculator's results below but here's the main numbers:

Purchase Price: $51,500

Repairs/Rehab: $33,000

Closing: $1200

Total Project Cost (cash): $85,700

ARV: $130,000

Projected Monthly Income: $995

Monthly Expenses Total: $357.87

-Taxes: $9.17
- Vacancy (6%): $59.70
- CapEx (4%): $39.80
- Insurance(estimate): $90
- Repairs (6%): $59.70

Monthly Cash Flow Profit of $637.13

Thanks so much! See below for the BP calculator output.

I would also recommend a nice wordpress theme (definitely pay for a quality one as @Luka Milicevic pointed out). There are a TON of beautiful themes and some even specific to real estate at Theme Forest or you could repurpose any of the other themes for your own site. 

So basically what y'all are saying is that this isn't a great deal? That is pretty much what my gut has been telling me... The cash flow is okay but I'm worried that I'm spending too much for the area. Still going to see what the inspection comes back as but will probably continue looking in other areas (maybe a tad bit closer to the belt line developments). Thanks for all the input!