All Forum Posts by: Jack Tucker

Money will always find the great deal...  Calling all smart money:

Mismanaged part-time by Mom-and-Pop Heir for decades, 

Owner is ready to liquidate to me for cash at above market cap given AS-IS performance.

307+ doors with miles of upside

44% vacancy (135 vacant), Surrounding Market rents are double for comps. 

OWNER IS DOING ZERO MARKETING !  ONE MISTRUSTED COMPUTER IS IN WHOLE OFFICE.  SKELETON CREW UNABLE TO KEEP UP.  HE'S READY TO GIVE UP.

Revitalization completed on all sides. 

Downtown corridor with large Medical campuses across street

The Down units not included in the 307 count - 2 entire buildings with 21 units ripe for remodel or divest for highest and best.  Strip mall? retail? zoned best commercial grade. Street frontage is on one of the highest traffic count in the metro area.  

The Vision: My Team lists all repairs during diligence and prioritize the remodel strategically for the low-hanging fruit to turn/rent fastest. Your $6 million would complete the cash purchase and fund all rehab. My team manages the professional rehab, My team asset manages and installs Professional PM. 21st Century MARKETING in order to drop to 10% vacancy.

Goal 1 - Within 12-24 months - Bump rents over time by minimum 50%. = NOI of approx $1 million. Forced-appreciate the property to $12.3 M assuming 8 cap. Market cap in this city is 5-7%. On the $6 Million basis, this would be a 16.7% CAP.

Goal 2 - Within 24-48 months - bump rents closer to market at 2x and your NOI becomes $1.5 Million, a 25% CAP on the 6M basis!!! and property valued at $18.75 M assuming 8 cap. 

You bring the cash. I bring the deal and the hustle.  We both bring our experience and the love of the game.  Contact me ASAP to get a confidentiality agreement and more details... such as the spreadsheet I had to enter from the provided handwritten ledgers of the April rent roll.  Ability to perform is everything.   This is a commitment for both sides.

Private Money Lenders Hard Money Multi family Southeast Tennessee Georgia Florida Alabama Carolina apartment buildings distressed seller large investor commercial development multi-million double digit cap 

Troy,

Welcome to the BP fire hose of information!

You will find that Athens is a great place to work real estate as an investor.  It's been great for us. You will also find that Athens is in need of quality property managers.  

Join us at our local meet-up on the last Monday of every month. Just message me for details.  

We do wholesaling, rehabbing, buy and hold of single family, small and large multifamily in Athens.  

$55k! Rented at $795. Tenant and PM ready to go.

SFR 3/2 with Bonus room

Athens Georgia, home of UGA. and 1 hour to Atlanta

Not by University of Georgia but near the new $5 Billion Caterpillar Plant.

All New in 2012: Roof, Heat Pump HVAC, Granite Countertops, Stainless Kitchen, vinyl flooring. All Electric. 1254 Sqft with Master on Main.  Solid A-Frame design house with good corner lot. Many big trees and shaded yard = no lawn maint.

140 Nicole Cir. Athens GA

Contact Jack 706-818-3359

@Simmy Ahluwalia

Not physically tenanted, but new lease has just been executed for 12 months at $795.

@Michael Noto

You are right.  In this market, these can go well north of the price offered, as evidenced by my follow-up post.  There is upside, but I don't want to get greedy. 

@Davon Lowery

Nope.  This is a cash sale from a probated estate... and I am wholesaling this opportunity to a cash buyer.

Thanks again for all the private responses as well!  Email us directly at [email protected]

HOLY MOLEY, I SCREWED UP !!

We posted this for rent on Postlets and got ABSOLUTELY FLOODED with about 3 dozen responses in hours...  So we upped the price. In less than 24 hours we have a security deposit from a new tenant family for $795.  Our little experiment showed that you could probably go up another $100-200, but don't want to float too much. 

The original $45k offer price assumed $650 rent.  Sorry folks. The $795 leased price is now at $55k, my apologies.   Frankly, if someone doesn't want to give $55k, my wife and I will gladly keep this one in our portfolio given the new roof, new hvac, new granite, etc, etc. 

This is a welath-building SFR. The new tenants have expressed tentative interest in doing a lease-option at "65+" with their down payment.  Looks like we may learn this strategy next unless somebody wants to step in at $55k!  No guarantees, but exit strategies abound.

1254 Sqft with Master on Main

Solid A-Frame design house with good yard

$45k! Rents at $650. SFR 3/2 with Bonus room

This will go on the MLS within 48 hours, so hurry!

Athens Georgia, home of UGA.  Not by UGA but near the new $5 Billion Caterpillar Plant.

New in 2012: Roof, Heat Pump HVAC, Granite Countertops, Stainless Kitchen, vinyl flooring.  All Electric. Lots of big trees = Shaded yard no lawn maint. 

140 Nicole Cir. Athens GA

Another Quality Wholesale by Top Performing Properties

Contact Jack 706-818-3359

Hey Ginny.

Welcome to the BP party!  Great background. Love the skype house story since my som is in the military.  If you are interested in multifamily in Athens GA, just give me a shout.  That's our bread and butter.  Or even if your family that's local here is interested in looking me up for advice on deals in this town or in the southeast, please keep my contact info.

I have a real estate license, but have NEVER asked a commission.  I'm an investor and facilitator. Period. My opinion is free to all, and worth every penny i don't charge! 

Take good care!