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All Forum Posts by: Chad Yonkin

Chad Yonkin has started 3 posts and replied 13 times.

Post: Meet up in Savannah, GA

Chad YonkinPosted
  • Rental Property Investor
  • Savannah, GA
  • Posts 13
  • Votes 11

I'd be willing to attend as well.

Food for thought:  Savannah is filled with a lot of old school investors who aren't on and don't need to be a member of BP.  At the least, start a thread on the Savannah Investor Facebook page about the meetup. Maybe some of the wholesalers could email their cash buyers with a meeting notice.

Post: Turnkey Section 8 Rental in Savannah

Chad YonkinPosted
  • Rental Property Investor
  • Savannah, GA
  • Posts 13
  • Votes 11

Good deal Pat; sounds like it was too easy to pass up. You've got good wholesaling friends who will hold the deal for you because right now in Savannah I'm seeing wholesale properties sell within hours in cash, sight unseen.

Post: Multi Family Syndicator Savannah GA

Chad YonkinPosted
  • Rental Property Investor
  • Savannah, GA
  • Posts 13
  • Votes 11

Hi Dylan,

What kinds of properties are you looking at? How many units? Quads downtown? Apartment buildings or maybe mobile home parks? 

Btw, I currently do SFH rentals and flips in Savannah. I'm also looking to partner up to take down some MF deals. I can bring some capital. Chat me up some time.

Post: New investor in the Savannah, Georgia region

Chad YonkinPosted
  • Rental Property Investor
  • Savannah, GA
  • Posts 13
  • Votes 11
Hi Christian, welcome. Like you I'm livin the dream at the 'stream and am doing a real estate side hussle. Hit me up some time.

Post: The Savannah Market.

Chad YonkinPosted
  • Rental Property Investor
  • Savannah, GA
  • Posts 13
  • Votes 11

I've been investing in Savannah last few years. I'll IM you.

Post: Is any one in the Savannah GA market

Chad YonkinPosted
  • Rental Property Investor
  • Savannah, GA
  • Posts 13
  • Votes 11

It depends highly on the area you're looking at. This city outside of the historic/downtown district isn't seeing massive appreciate in housing prices so if you're going to BRRR or flip make sure you understand the ARV well. In many areas, you will lose your shirt paying 100k for a house, and others you might be ok.

ARV is hard to know in Savannah since taking comps even from a few streets over can be a folly. If you aren't from here, I recommend making a few trips in person here and to really understand a few neighborhoods to invest in. Pick your niche.

Post: Analysis BRRR or flip?

Chad YonkinPosted
  • Rental Property Investor
  • Savannah, GA
  • Posts 13
  • Votes 11
@Christian Salvo,  I'm using Dealcheck to run these deal numbers. You can setup a property in both rental and flip scenarios and it also has 1-30 year projections. I've used it a ton.

To add fuel to the fire, I bought the property in my own name and I'm guessing I'll be responsible for paying ordinary income tax + 15% for SE tax. That drastically affects the flip profit.

Post: Analysis BRRR or flip?

Chad YonkinPosted
  • Rental Property Investor
  • Savannah, GA
  • Posts 13
  • Votes 11

BP people, I've closed on this property and am finishing up on the rehab. I'm conflicted on whether to flip and cash out of this property or BRRRR it. I feel like both ways are strong numbers and it comes down to my personal goals but I'd like to hear from you all.

Here are my flip numbers:

Here are the numbers for the BRRR after refinancing out. You can ignore the cash on cash and ROI since they will be crazy high due to the refinance

Here are cash on cash and ROI numbers if I don't consider refinance:

Thoughts?

Post: Any REIA’s in or around Statesboro Georgia or Bulloch County?

Chad YonkinPosted
  • Rental Property Investor
  • Savannah, GA
  • Posts 13
  • Votes 11

http://savannahreia.com

Post: Recently retired from the military and back to RE investing.

Chad YonkinPosted
  • Rental Property Investor
  • Savannah, GA
  • Posts 13
  • Votes 11

Welcome fellow Savannah investor! I'm sure you'll have fun learning the interesting market we have here!