All Forum Posts by: Robert Adkins

Hey BP community — I'm looking for any tips or ideas on how to improve my business and keep growing.

I'm 25 years old, based in Florida, and a full-time Realtor. I own and operate Adkins Enterprises LLC, which holds six single-family rentals in Franklin County, VA — all on annual leases.

I just closed on a new property that should rent for $1,500/month after about $5K in repairs. Here's a quick snapshot of my current rents:

• 1834 Brooks Mill Rd: $2,000
• 1876 Brooks Mill Rd: $1,300
• 1976 Timber Ridge Rd: $700
• 120 Donald Ave: $900
• 130 Donald Ave: $1,300
• 3870 Old Forge Rd: New – expected $1,500

The portfolio appraised at $1.5M. I currently have a $575K loan at 7.25% (5-year ARM). Property taxes are around $4,400/year, insurance is roughly $3,100/year, and property management takes 10% of gross rent. I’m exploring the idea of self-managing from Florida to increase cash flow.

My goal is to keep scaling the business and eventually move into multifamily. I’d appreciate any feedback or ideas on how to run things more efficiently, build reserves, and prepare for future growth.

Thanks in advance!
– Adkins Enterprises LLC

Hello everyone,

I am curious what percentage profit everyone looks at when they are buying a deal.


I currently have 5 properties(1.3M equity) that gross $5700 a month then after expenses I’m left with $2636.

Is this a good profit margin or should when I look at buying another property look for better margins? Also what’s the best way to calculate this?

Good Afternoon all,

I have recently purchased a property from an individual that used it as rental property. The tenants that lived there moved out 4-5 months ago but there belongs and lots of other junk still remains. They owe around 8k in rent currently and when I reached out to asked them to remove their belongings they refused. Again they currently do not live there at all, only have items there.


What is the best way to move forward so I can have all the junk removed and house cleaned so I can have it remodeled to be rented? 

Also is there anyway for me to obtain that rent that’s currently owed to go towards the cleaning fee for the property? The estimate cost to do the full clean is around 6k.

Thanks for the help!

Thank you for the reply !

Hello everyone,

I have some questions regarding a business and a trust owning property together.

I currently own a LLC that I use to "own my properties" and do all the financial transactions. My grandmother passed away recently and has three properties in her trust that I am wanting to add to my business in order to gain equity and show more income. Currently my mother is the beneficiary of these properties but would like me to take them over to ensure they are taken care of and they have renters in them. The problem is she doesn't feel comfortable handing the properties over to my business allowing her to have no say at all over them anymore. So with this being said is there away my business and the trust could own the properties together so I can benefit from the equity/income and she can ensure she still has part ownership in the properties? I thought about adding her to my business but that is not an option since I own way more properties than these that I solely want to be the one responsible for them. Any suggestions would be greatly appreciated!!

 This was through a commercial lender, that’s why I was confused on this response as well.

 Check below

This was what I got. "We don't do much look at a borrowers ROI for rental property, we mostly are concerned with debt service coverage, which is how net cash flow you have compared to debt payments.
If we have actual rental history we will use actual expenses compared to current rents. But we will take net income, add back any depreciation, amortization and interest expense to get net cash flow. Then we divide that number by the total annual debt payments and want the cash flow to cover debt payments by 1.25x.
If we don’t have actual expenses we take 35% off gross rents to get net cash flow. The 35% includes potential vacancies, insurance, taxes, repairs, etc.
If a management company is used we take that at in addition to the 35%.
Also limited to 80% of the purchase price or appraised value.”