All Forum Posts by: Account Closed

Asking price $350,000

Fully renovated this year.

Rent $675 per unit = Total $4050 All are 2 bed, 1 bath

Taxes $400 yr current owners numbers

Insurance $2,000yr current owners numbers

Water $270

PM $405

Maintenance & Vacancy $500

Payment $ 1,850.00 , includes Taxes and INS

Net $1,025.00

Located in Powder Springs GA I'm an hour and a half drive so I could manage myself and pocket the extra $405.

Not a good deal in my head. I need at least a $500 net to be happy.

I have a great spot for duplexes and the area needs nice rentals.

Land $18,000 2 acres I think I could picked it up for $15,000

936sft duplexes at a building cost of $45 per sqft... Total of 84,240. $85,000 to be safe

Permits, utility hook ups, road through property etc. $10,000.00 rough estimate

Total in at $113,000

Rent $800 x2 $1,600

Payment $815. Includes property taxes and insurance.

5.5% at 20 years with $37,000 down.

35% For maintenance, vacancy $275

I figured I could drop to 35% instead of 50% with them being brand new.

Net $510

ROI 16%

How's that look?

Also there's room for a total of 5 buildings (10 units) for the future.

Anybody have a rough idea what it would cost to finish the inside of a house ? It's finished on the outside but inside it's just bones, no electrical & some plumbing. 1,550sqft. Going for semi nice should be in the 150-175 range when completed. Located in AL

We have formalized the agreement as of last week, with a contract.

It's on a twenty year as of now. The way he was talking he wanted me to refi it and he would show that I had put 250k down with him as a way to clear up the debt. I want to grow in RE but I'm hesitant that this deal is the best way and I might be better off investing the 2,500 in other opportunity's.

20 years till their paid off. I'd say he's pretty solid. Unless he does something crazy he has a very successful business.

The DG is NN the Family Dollar is NNN. FD just re up'd for another 10 years. DG has 3 years left on their lease, but he's trying to get them to extend before he would sell to me.

Karen. I'm not sure the exact sqft. They both come with a acre of land. One is leased to Family Dollar the other to Dollar General. I already manage 4 Dollar General properties so I'm good in that sense. I'm just not so sure on taking on 800k debt for 2,500 in cash flow. They value in around 1.5 million.

So what do you think ?

Jon, I might net 100-175k if I sold them. My father didn't have an collateral, they was friends since high school, one of those good ole boy deals.