All Forum Posts by: Andrew P.

I am the typical bigger pockets newbie story. Been listening to the podcast 4 years frustrated and spinning my wheels. Been under contract on a few but they fell apart on inspection. I have a 2/2 932 Sq ft under contract 15 minutes from my house for $145k. Plan to put 20% down and finance the rest at 3.5%. It should rent (per BP, rentometer, zillow) for $1200 a month. It is in great shape and move in ready, however because of that it is only worth around $145k. I'm paying market price. With 7% Repairs, 5% vacancy, and 7% Capex I stand to cash flow $289 per month with 10% coc. The plan would be to self manage so I can learn the ins and outs of PM and to hold for 10+ years. It is certainly not a deal that will make anyones radar but for me I think it would be a great base hit to use the baseball analogy. I understand many are saying wait in this market but I've been waiting for a long time. Any advice would be appreciated. Thanks

Ethan, I'm in a similar situation, live near you, work in sales as well, all that.  Been under contract on 3 or so houses and had to back out for inspection issues.  I'm under contract on my 4th now.  It isn't an amazing deal but should cash flow $300/month with 10% coc.  I'm doing it anyways just for educations sake alone.  I finally decided a couple months ago I was going to focus on 2 things and I was going to dedicate specific time everyday analyzing deals and getting it done.  That seems to be helping.  Regardless I feel your frustration as I have had it since I started Bigger Pockets in 2016.  Literally anything I would have bought then would have been a deal in our market.  Working on taking action myself.  I write this just to let you know you aren't alone out there.  Good luck

Tight market here in the North Metro Atlanta area as well

Welcome to another North GA native!

I'm under contract for this house.  https://www.zillow.com/homedetails/6510-Millwood-Rd-Cumming-GA-30041/14644157_zpid/  The sellers agent says it is a stick built house but it really really looks like a double wide to me in some ways.  It is about 32ft wide and 70ft long.  On a foundation with an unfinished basement.  Any tips on how to actually determine what it is?

Thanks all, unfortunately the septic may be a deal killer on this one.  The tank is only 1,000 gallons so it is probably not going to support the build out.  Looking into my options here.

It's definitely a risk. Just trying to bounce it off the forum and see what you guys thought. I've taken 4-5 different people over there and some have said run and others have said tenants won't care as much. Most of this hinges on the septic inspection this morning. If the tank isn't large enough to handle the additional bathrooms, kitchen, laundry then I'll walk. If the field lines or tank are under the parking areas same thing. In response to zoning it is zoned R3 residential in Forsyth County GA which allows for Duplex. No HOA.