All Forum Posts by: Richard Capers Jr

Hi all, is there anyone doing midterm or LTR's in Augusta, GA? I'm looking to acquire my 2nd investment. Been hearing Augusta pop up on more than one podcast. I'm out of state, located in Nj. ZHVI shows a 3.3% home value growth. I'm aware that this alone is not the only reason to invest there. For anyone doing rentals there, please share your experiences. If you could also share areas to look at and areas to stay away from.

Thank you

I've done LTRs in Augusta for a while now and have enjoyed it. There are still opportunities in the market to hit and slightly exceed the 1% rule. Locations to stay away from is always investor dependent and potentially property management dependent.

There are quite a few investors here working the MTR game and doing very well. We have a pretty diverse market which has helped this space a lot. Reach out if you have more questions.

0 Votes

Quote from @Paul Tan:

Finally got my headshot uploaded so I no longer have to lurk around the forums! XD

What are your thoughts on Starting Small (Cashflow) vs Going Big (Equity)?

Since I will invest in the Augusta, GA, I'm trying to figure out what strategy to take for the next 3-5 years. Here's the facts:
- I'm pre-approved for $330K but I can push it to $450K if I really need
- $10K-$20K Saved for down payment. $10K Saved for renovations
- Saving $800-$1400 every month
- I have access to the VA loan

(*preferred) Strategy #1: $100K-$200K purchase. ~$1000 Mortgage. Rent for ~$1000. Rinse/repeat once I can ReFi for 75% ARV. 1031 in 5 years.
Strategy #2: Buy a SFH in a subdivision for $300K+, waiting until I have enough cash/equity and buy again. HODL.

Here are my pros and cons for each:

### $100K-200K ### <-- More Active Investment
Pros
- Higher Price to Rent Ratio
- Fast turnaround to purchasing next property (6 month before ReFi)
- Value Add repairs can improve house value a lot
- 3-4+ purchases in 5 years = More Learning Opportunities/Networking

Cons
- Higher Risk of Bad Tenant
- Maintenance Repairs
- Lemon Purchases

### $300K+ ### <-- More Passive Investment
Pros
- More equity to draw from down the road
- Good Neighborhood
- Family Tenants are safer

Cons
- Higher Operational expenses (Taxes, Insurance)
- HOA Limitations
- Typically recent builds/renovations so not much room for Rehab
- 1-2 purchases in 5 years = Fewer Learning Opportunities

I know that there is no one solution. Also, specific advice depends on me providing more details. But I always like to hear more new perspectives! So hit me with everything you've got!

I'm in the Augusta market as well. Why don't you put nothing down with your VA loan? Then in a year or so use the loan again for another purchase? There's a potential to use the maximum eligibility with these 2 purchases but you can House Hack them and increase the cash flow vs market rates in the area.

Save your cashflow and your down payment money then with the 3rd purchase go for a FHA loan 3.5% down with the amount you made. Move every 12-18 months until you are tired of doing it.

23 Votes

Quote from @Nana Ofori:

Good evening everyone, Please I wanted to ask what Is the best way to find seller info after you find a distress property. Some ways I can skip trace. thank you

You can look the property up at the tax assessor's website. You can also skip trace the property through Batch Skip Tracing. They will allow you to screen one address for 15 Cents.

0 Votes

Quote from @Steve Meyers:

@Chris Seveney it all depends on the deal, if I'm looking at a condo vs a house it will be completely different. They wouldn't be taking on risk but rather getting a percentage of the profits or commissions, depending if I list the property or flip it. I was thinking of doing .5% mind you our average price point here in SD is about $850K so .5% of profits on a flip or commission would be fair I think. 20 deals a month is a lot for my market here.

I was also thinking of doing a flat fee of $100 per appt set but not sure if that might be too low?

@Steve Meyers I wouldn't recommend paying a flat fee for appts set. You could find yourself at non motivated seller appts quite often and your assistant's focus would shift. To ensure they are setting high quality appts make sure you considers paying per close.

If you want to set an hourly rate plus closing bonuses that would work as well.

0 Votes

San Diego, California

Quote from @Karl Washington:

Has anyone had experience with this? Where did you find your gator lender?

Karl, I'm a Gator Lender. How can I help you?

0 Votes

Quote from @Jamaal Ragland:

Does anyone have any property management company recommendations for Calhoun and Augusta Ga?

I currently use Augusta Rental Homes for property management. I've been with them for a few years now with no major issues.

0 Votes

Atlanta, Georgia

I've used Fountain Law Firm, LLC in North Augusta. Closing was smooth and easy.

1 Vote

Quote from @Kyle Thomas:

Hey BP, I'm looking for direction and/or tips on finding buyers, shopping around contracts, and developing a buyers list when virtually wholesaling outside of your home market.

Reach out to local wholesalers in the market you are working. JV the first few deals then go from there. You should have a good idea of who the active buyers are after a few closed transactions. Connect with the buyer you closed with and as for referrals. Let it snowball from there.

3 Votes

Cleveland, Ohio

Quote from @Christopher Mooney:

Hey all!

I live and work in NY, but am interested in off market marketing in Cleveland, OH and Kansas City, MO. I intend to wholesale some, but the goal is to keep as many properties as possible (wholesaling to fund business operations and generate cash to invest).

If you had $300-$500 to invest virtually and not much free time to cold call on your own (I'm out of the house at 6AM and back home at 7PM), where would you spend that capital? Mailers + cost of a Google Voice local number? Another strategy?

I look forward to hearing your inputs!

@Christopher Mooney, If you want to work outside of your market then you should 100% connect with local boots on the ground that @Kyle Zdrojewski was mentioning.

Google Voice is free so no worries there. Have a list pulled from Propstream @ $99/month. Or pull a small list from www.listsource.com.

You can make those calls during lunch or have you boots on the ground follow up with the lead list. Spend as little as you can to get started. Hustle a bit then figure out what systems would work best for you as you grow.

1 Vote

Quote from @Jeffrey Fung:

I don't know what a pml or hml is but I would start small. Buy a condo/townhouse whatever you can afford that is in the ball park of what you are comfortable paying for rent. If you can afford a 2 bd, live in one and rent out the other.

Then move on from there. You're young so time is on your side.

PML = Private Money Lender
HML = Hard Money Lender

1 Vote

All Forum Posts by: Richard Capers Jr

Richard Capers Jr has started 1 posts and replied 85 times.

Post: Augusta, GA for midterm or long term rentals?

Post: First post and ready to buy! What do you think of my strategy?

Post: Real estate wholesaling question

Post: How to properly incentivize a real estate investor assistant

Post: How to find a gator lender to fund my EMD?

Post: Any Property Management Companies Recommendations for Calhoun and Augusta GA

Post: recommendations for title attorney

Post: Locating Buyers Virtually

Post: What to do with $300-$500 monthly budget and virtual?

Post: Starting my Real Estate journey in college