All Forum Posts by: Sandra McEwan

@Thomas Farrell  Hey Thomas, I invest in Augusta and I am happy to chat about it and can definitely tell you about the area.  For template that @Drew Sygit described above for Detroit, this section I feel depicts a good majority of Augusta. There are variations but this may give you an idea of what to expect especially if you are looking to BRRRR. I think it's great for long term holds. Reach out!

Class C Properties:

Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation. Can try to reposition to Class B, but neighborhood may impede these efforts.
Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.
Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years. Verifying last 2 years of rental history very important! Also, focus on 2 years of job/income stability.

@John Gochangco I invest in Augusta and self manage.  I would say try attorneys:  Hull Barrett (they are familiar with seller finance deals and do civil litigation also) and Wright Mcleod.

That sounds very frustrating.  I am in a 50/50 partnership on some deals also and I do the PM portion so I definitely get it!  

If you need help with vendors or to help managing through this feel free to message me.  I am happy to help in any way I can.  Just let me know what you need.

Very exciting! I'd love to hear more about what you are doing and 30906 and why you like that area. Would you be interested in jumping on a call? I'd also like to know how you found a DSCR loan for 6.3%%!

Hey Robert! I see you invest in Augusta and I was wondering if you would be interested in connecting and jumping on a call!  I also invest in the area and interested to hear what others are doing and their thoughts on the market:)

thank you! Do you know of lenders that still offer 30year fixed on 5+ units?

Hey Timothy, How do you the terms change with DSCR loans with 5+ units?

Hey Derek, can you explain an example of how you would structure the deal for a MF with a DSCR loan but with someone who would give the downpayment and pay interest per month AND a % of the equity when you sell? It sounds like they would have a smaller % b/c you pay them some every month.

Hey Anja! I have 4 MTR/STR in Augusta but I self-manage them remotely. So far I am managing ok. What zip codes do you co-host properties and are you local?

@Thomas Farrell Hey Thomas, how do you manage co-living strategy from out of state?

@David Bull Hey David!  Would love to connect.  Thanks for sharing your deal breakdown.  I hope your future capex is not too heavy considering the houses in downtown are so old.  That 2 year lease is key!