All Forum Posts by: Caleb Anderson

@Chanch Edwards Welcome to BP! I'm fairly new on the site as well, and also in the Atlanta market. Make sure you set up tag words so that you're notified when something you're interested in is mentioned. Don't forget to upload a profile pic, and I hope BP is as useful for you as it has been for me!

@Rachel H. Not sure why it didn't properly tag...

@Van Blackman @Rachel H. @Redgy Saint-Germain @Ethan Henning and anyone else... 104 Kimbell Farm Dr Locust Grove, Ga 30248- Asking 149900. Offering 140000. 3bd/2bth. I know this area very well, and there is definitely a lot of job and residential growth. Renovating some floors, exterior, and painting walls. Maybe 3500. (I personally will lay flooring and fix exterior.) Needs washer and dryer. (700) Family member putting down 20%, their investment reimbursed when property is sold, cash flow is split 50/50 between us. Rent-1390. Tax-160. Insur-55. Vac-70. Capex-140. Repair-111. Mort-595. Mgmt- 140. Total=1271. CF=119 a/mo. I won't be using Mgmt company, but I will account for it. Thanks for taking the time to read. Any advice you have is EXTREMELY appreciated, and let me know if I missed something. Thanks!

@Kevin Means Thanks Kevin. Good to know I'm not alone, but I will do that. I might just post a small breakdown of my numbers after work tonight, and maybe y'all can look at it and tell me what I'm missing.

Thanks for all the advice and support! I am definitely going to rework it and reconsider before going through with it. I have a lot of faith in my agent, I've known her a long time and she's been doing things like this in my area for a while. Also, my FIL and I are splitting cash flow 50/50, and he's getting his initial investment back when property is sold, anything else would be split 50/50. I know it's not 1% rule exactly, but I'm willing to not make as much $ as I could just so I can go ahead and start to figure out the issues and roadblocks first hand and get my career moving.

@Rachel H. Thanks Rachel! I think I'm getting too excited to get this going. My realtor is very confident I could rent for what I quoted earlier, and I trust her a lot. BUT---- trust but verify!

@William Walker Thanks for the reply. I ran the numbers like I normally do. I am kind of running into an issue lately where the all of the deals I run have good cash flow, so I'm not sure what I'm missing. Any advice would be great. Thanks!

@Redgy Saint-Germain Thanks so much. I will look into that.

@Redgy Saint-Germain Ok, cool. This would be my first deal, and I was trying to partner with my Father in Law on this one, just to get my feet wet. The next one I was thinking about using FHA, can't you only do them so often?

@Redgy Saint-Germain not sure why it didn't tag you correctly.