All Forum Posts by: David Braylark Jr.

Hi BP,

I'm a new investor with only property located in Smyrna, Ga at the moment but I'm looking to leverage multi family and smaller apartments to grow my portfolio to 100 units. I've been intrigued with the BRRRR strategy for quite some time however as many of you may know, these types of deals are proving themselves to be harder to find in 2020.

I've got about 50k set aside and about 150k of equity in the first property and I'm brainstorming on the best strategy to move forward with to scale. The beauty of the BRRRR is leveraging the same capital to duplicate your investment process. Scaling in a smart and quick manner vs buy and save for the next downpayment is my main concern.

Is anyone having success in today’s markets creating a duplicatable process within their business? Are you holding on to cash waiting for better deals? Relying on property management to invest in areas outside of your hometown? Any insight on this topic would be highly appreciated.

Looking for a small crew to help with a basement remodel in Lithonia. Immediate need to is build and frame out a staircase leading from inside the home to the basement. If that goes well, will need the crew to continue work and finish the basement. I have pictures and some measurements to share. Need the stairs installed this week if possible.

@Emir Dukic I have 2 bedrooms I’m looking to furnish in that area. Pm me details please.

@David Fileger  It's the offer price.  I was looking at worst case scenario first then will factor in what I'm willing to pay once I had all the proper expenses recorded.  

@Christopher Gingras ... thanks again for your feedback. Much appreciated. My cousin is a propert manager for the collier companies. They manage many of the complexes in that area and she mentions it's due for an overhauling the coming years.  She specifically mentioned Gainesville becoming a smaller Orlando of sorts.  Their company is investing a lot in surrounding areas as well. 

@Christopher Gingras ... I live in Atlanta. How familiar are you with the area of sugarfoot. Would you say it's a C+. Worth considering? Do any of the numbers I presented seem off to you when compared to some of your similar properties? Sorry for any ignorance on my part but thanks for any feedback you might have. 

@David Fileger All great feedback, thanks or replying.  The Refi would allow me to recoup the initial downpayment and minor repair costs.  Granted the interest rate is a bit higher the rent and cashflow appears to still make sense while freeing up capital for additional projects.  Considering the age of the property, the AC, Roof, etc are all concerns I agree.  I am not factoring in these major expenses into this initial look at the deal.  Of course if I did a closer inspection on the property and these would present an issue then throw all these numbers out the window.  

Being that you are local to that market, do tenants typically pay their own utilities?  I have close contacts with a local property management company and they have raised rents $2-300 over the past year in that general area with insight that the area is up for some major growth in the coming years.

Hello BiggerPockets community,

I am analyzing my first small apartment complex.  Here is a quick description:

6 Plex located in Gainesville, Florida, C/B on bottom, behind Oaksmall, convenient to UF, malls, and shopping centers. Bottom floor with toilet is tile & top floors with bedrooms are vinyl simulated woods. Fully rented. It is 2b/1.5b. Serious inquires with proof of funds to be able to see inside. Please do not bother tenants.

I used the BRRRR calculator to pull together the following calculations:
https://www.biggerpockets.com/calculators/shared/7...

I am having a difficult time accurately quoting the anticipated expenses for this property.  Any thoughts about the deal, the expenses, or anything else would be welcome.