All Forum Posts by: Ryan Beasley

@Troy Durrette Troy, the next time you swing through Augusta make sure to give me a call. I can help you out with pretty much anything investment wise there, minus a few commercial property types (industrial & office).

@AJ Neal Your profile says you're from North Carolina? I'm from Augusta, mainly the Grovetown/Evans area and know it pretty well. I'll also be heading that way come May to sell Real Estate, not to mention my whole family is in construction. Let me know if I can help

I would say it would make better sense to go with the 15 year if you had some closing costs paid on buying & selling side. Because you're main concern is with the Re-sale margins when you do sell, in order to meet your hurdle rate. Honestly, for lower price properties it doesn't make since to sacrifice cash flow if you don't get closing costs paid, because the fixed closing costs eat up a larger % of purchase price. Thus, shrinking your resale margin to where it makes no financial sense in terms of risk/return. Obviously, you will need cash flow to maintain the property and a necessary margin of safety for the investment to ensure you can rest your head on the pillow most nights. The equity build-up from the 15 year makes for a substantial IRR (if the property Re-sales at or above purchase price in the future) and by future, you wanna give it 5-7+ years. I would stay on the safe side and try to raise those rents to at least get $100/month CF. If you had a steady job and a nest-egg this may not be necessary right now. The 15 year also allows for you to have enough equity build up to break even if you decide to Re sell in 2-3 years. Which may happen, you never know! To be honest, there are WAY too many practicalities to this situation that I don't have the proper info to assess. Ideally, you want rents of at least 1.5%+ of the purchase price per month, half of closing paid on each side, 20% down, in a low vacancy area if you're going with a 15 year fixed. The equity build up alone accounts for a 10-15% annualized return 'IF' it sells at or above purchase price in at least 5-7+ years. I can send you a spreadsheet on it if you like. Although, this advice is only as good as it pertains to the individuals financial situation and in no way shape or form am I a licensed Financial Advisor. So take it simply as a suggestion.

This is a property that my firm has listed across from GA Southern Campus for $130,000. The current rent on it is $950/month with only 3 out of 4 beds occupied. However, there is a 60-day move out clause in the lease and there's plenty of time for someone to turn it around, clean it up and lease it back out at market rents. Which are about $400/bed plus utilities. The owner is negotiable on price but is not willing to let it go for much less. This is a great chance to snag one of these properties close to campus. I've attached the analysis below

@Joel Owens Thank you for the info. Compstak unfortunately doesn't have any data for my market here in Statesboro, Pooler, Savannah and doesn't have it for Augusta, GA either. I feel as if I'm going to have to call and go door-to-door to different owners and tenants to get lease/cap rates in my market. I would call local brokers but they wouldn't give me the info even if their life depended on it. 

@Steve McGovern So, in both cases the tenant pays all the NNN's? From what I've read the landlord just charges them differently on Taxes, Insurance and maintenance. I understand the % charge of sales/sqft past a certain breakpoint, I'm just a little confused on how these two tenants differ in how they pay their NNN's. Could you or @Joel Owens elaborate on that for me? 

William, I would not look at it as being handed to you without working to find it. I've learned in business to not make anything harder than it actually is. Having agents send you deals is a great way to leverage your own system. However, I would not trust anyone's judgement. Whenever they send the deal just analyze it for yourself and make a decision. As an investor, you always want to have good deal flow because only a small % of what you come across will be worth it. That is why partnering with local agents/brokers can be a great way of getting that flow going, not to mention you may find partnership opportunities. Also, agents like myself, farm their local market vigorously (or at least they should). I currently have a list of 53 sellers that would be interested in selling but just don't want to list yet. I would advise farming yourself and then have your agents farm as well. Make sure to communicate with them regularly so they know you're still on board and you aren't wasting their time. Hope this helps!

I have done direct mail quite a bit of times to various segments of my market. If you are mailing to absentee owners, as in they don't even live in the same state, you will get the best response rate. I sat down went through my counties public record and jotted down 587 addresses of absentee's. I keep them all in an excel file where I mark who called back, who's interested/not interested and the last time we were in contact. My response rate is usually 7-8% and I generated 3 listings and 52 seller leads off 2 campaigns. I wish I would've known about absentee's from the start before I did all the owner-occupied mailings to subdivisions.

@Account Closed It has not been updated yet.

If you're looking for a property to flip that won't take long to sell then this one is for you! I currently have this property listed on the market and the owner is EXTREMELY motivated to sell. I am willing to provide comparables, listing info and an analysis of the flip upon request. It does need some work but most of it is either a quick fix or personal property replacement. Here's a list of what needs to be done:

-Needs a Refridgerator

-Needs Washer & Dryer

-Needs new floor coating due to scratches

-Needs re-painting throughout the house

-Needs Built-In Microwave

The owner has bought a brand new stove and garage door. They are willing to do some work but (of course) they don't want to if they don't have to, so selling as-is would be ideal. This deal is estimated to have a ARV of $110-115,000. I know that's skinny but like I said owner is motivated to sell so bring your offers. I can't speak on what they will take but I can say that they want this property gone!

Also, I attached a link to the listing on my companies website.

If anyone is looking for deals or advice in Statesboro, Pooler or Savannah feel free to contact me! I have about 4 potential fix n' flip deals on my desk right now that I'm looking to sell. Only on 1 of them, I am not direct with seller because it is bank owned and we all know how difficult that can be.