All Forum Posts by: Billy Maloney

Came across this thread. Im looking into a property on Riverside Pkwy, Decatur, GA 30034.

Can anyone give me some insight on this particular pocket from an investment stand point? 

My property is running great. It will be a year June.  The PM calls me once a month to check in and see if I have any questions.  They seem to be easy to get a hold of fro me, but i haven't had any problems I have had to bother them with yet. No complaints. Let me know if you have any questions. 

My partner and I are search for off market SFHs in Worcester, MA and surrounding towns for flip projects.  Any condition at least 3 beds.  Looking to get in contact with anyone and everyone with access to deals in those areas. 

I'm in Los Angeles. All my work is in the Los Angeles area. I cant get myself to move to the outskirts of LA (still paying 400k and up) because the quality of life just isn't great when you have to spend 2-3 hrs a day in traffic.  I could buy a 700k 2bd 875sq foot house with no yard (real sale in my neighborhood), clear out my saving, raise my expenses, pay a ton on taxes and have to work even harder to keep up with that my mortgage OR I can rent and use my savings to invest in real estate until I have enough passive income to cover that high mortgage payment when i do buy and have less pressure to work more.  Don't want to be a slave to my mortgage and taxes.

thanks for the info @Alex Craig. Yah its in countrywood. 38016. 

@Jay Hinrichs unfortunately yes it does also have county taxes. Its in Cordova.   @Alex Craig I understand what your getting at. Let me say this about the property I purchased. First off its a smaller 5 bath. Its was 100% fully rehabbed I have a 2 yr lease with a tenant who gets a healthy pension every month (Over 100k). Here is how im seeing it and please tell me what you think. 

My PITI is $931, PM is $150. My raw monthly cash flow is 420 a month right where you said. If there are no problems with this 2 year lease then I will have $10,080 for future vacancy and repairs on top of that I already put aside 5k in its own account as a back up. At that point im still bringing in 420 a month and should be looking ok to stay in the positive for future years.

This was my first property, i refused to not take action and just talk about it for so I went for. This was a safer way for me to get started.  It has been a great learning experience.   

Like I mentioned before Im looking to get into better deals that I can go after myself. Finding it difficult to do as an out of state investor working full time, but Ill find a way. 

@Jay Hinrichs yah i didnt mention taxes but i was including them. Its actually in Memphis so may not be as much appreciation. 

@David Malott Not being Nosy at all this what Bp is for. Im an open book.

I am cash flowing 195$ after 7% vacancy 5 % repair 5% cap Ex and 10% Property management.  It was a great experience for me as my first investment.  No complaints yet.

Its still only been 6 month though. I m currently searching for a non turnkey properties to see what kind of return I can find. If you have no experience in REI like I did TurnKey is a great way to get your first property and get an idea of the . I personal bought on the higher end price to attract better tenants. I paid 153k 5 br 3 ba.

Thats what i figured. Been thinking is the risk really worth the reward. Thanks for the info man.