All Forum Posts by: Caleb Anderson

@Redgy Saint-Germain Honestly, I haven’t spent too much time deterring the ARV, which is a mistake on my part. I’d say 159900. I’ll check out the sect8 you mentioned.

Hey BP community, wanna share what I have on a property and you can tell me what you think. Asking 149900. Offering 140000. Good, growing area. House will need a little new flooring, painting, and landscaping (3500). Needs Washer and dryer. Roof looks pretty good. My agent assured me we could rent it for at least 1350, but Rentometer says average rent in area is 1175. How accurate is rentometer? With all of that, cash flow looks like 390 a/mo (5%vac,5%repair,8%capex) and ROI 13.3%. A family member is putting down the 20% and I am managing property. Thanks for all of your help!

Thanks! I'm off, and I'll definitely be attending!

Hey BP! I'd love to know if there is a local meet up in the Atlanta area or south of Atlanta- including McDonough, Stockbridge, and Locust Grove areas. Can't seem to find any forum post for one already. Thanks and I look forward to getting the opportunity to connect with others!

Marshall Leipprandt Thank you very much for taking the time to type out that example. Good point on that it doesn’t have to be 50/50. I would like to try and obtain one property, see how it goes, then try to expand quickly afterwards.

@Ethan Henning Ethan! I've had the hardest time trying to message you on the site. Something wrong with my mobile app. Thanks for finding me again, I'm going to PM you right now. Lol

@Marshall Leipprandt I guess my quickly-put strategy would be to put 20% down on property, with as little Reno as possible, maybe 10k max, and rent out for as long as it makes sense. I would be as conservative with my numbers as possible, because I'd want this first property to be a learning experience. On the flip side, it may be problematic if it doesn't cash flow enough, because I want to keep my FIL's interest.

@Marshall Leipprandt Thanks Marshall! The point of it being risky or not, it's the easy part, is a good point. My FIL and I have a great relationship, but I would certainly makes things clear and on paper first. I do not have an enormous amount of time due to my job (50-55 hours a week) right now, so as little flipping and Reno as possible is my goal- at least at first.

@Josh Dillingham Thanks Josh. That's a great point, I do know this area very well. Also, the city directly North of me where I grew up- McDonough, is booming. So I might be able to get the best of both worlds...

@Marshall Leipprandt thanks! I do work 50-55 hours a week at my job now, so my strategy was to have it closer with a solid management company in the beginning. I just wanted some feedback on how useful having the property in proximity of my own house was or was not.