Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago, 04/01/2018

User Stats

107
Posts
47
Votes
Derek Okahashi
  • Realtor
  • Mililani, HI
47
Votes |
107
Posts

Might've found FIRST INVESTMENT (comparing two opportunities)

Derek Okahashi
  • Realtor
  • Mililani, HI
Posted

Any comments, critiques, or recommendations welcome.

Despite not being active on BP for a bit, I have been hustling working two jobs (+ kids, military reserve, a demanding job of my own, and school) to save capital and continuing to read and listen to education. All that said, I may have my first deal.

It is a 2/1 SFH in Augusta, GA. 50kish but haven.t landed on a number. 1950 build. Bought on auction, rehabbed, and rented out since 2014. Seller is consolidating to clear some debt. Will need a new roof in 5 years or so (est. 3k). Should perform at $650/mo pretty easily and might be able to stretch a little more. Weird set up but I guess not all that uncommon in that area for older homes. Washing machine in the kitchen area and dryer out back. Prob a class C area.

My parents live South of Nashville where I can get a new construction 2/2.5 town home for 187k and get $1400 in rent in a class B+ area. Brand new product, less worries, higher caliber tenant, can have my parents be a point of contact (manage it), no yard to deal with, way more appreciation potential...........but smaller cap rate less cash flow. It wouldn't even meet the 1% rule.

Thanks for any comment.

Loading replies...