All Forum Posts by: Cameron Godsill

@Deborah R. thanks for posting this. @Matthew Olszak your comment is exactly where I am at. I have an application as a word doc and PDF. I am finding that most people don't have much other than a cellphone. No printer or scanner. I have gotten pictures of a completed application but have been struggling to figure out a way to get my document as something they can fill out on a phone or laptop and just send back. Later as we grow I would like to have a website and put it all on there. 

Hello Everyone,

I am looking at purchasing a group of 5 SFH from a local investor whom is friends of our family and I have done work for with my other business. I am wondering the best way to analyze this deal. He is willing to hold back 15% on a ten year note at 6%. Each property comes out to about $85,000 and they rent out for $875.00 a month. These have and are rented out, (For the sake of keeping the post short) These are mostly 3-4 beds, 1-2 baths all but one has a garage. I know in this market the rents are lower than they could be. We have a couple large investors that have well over 50% of this areas market and they have pretty much kept the rents flat. I live about 20 miles from this city and these would rent for closer to $1100-1200 per month. I may have some wiggle to raise rents and such. Anyways, I am having trouble with over analyzing the numbers and this deal as I keep going back to the lower rents compared to my area. However I am getting a great beefit from the seller with financing, I only need to put 5% into the deal and I am doubling the amount of properties in my portfolio with this one deal. Also I have the option to do this same amount and structure with this seller over the next few years which could land me 20 SFH with little money into the deal. I hope I have not trailed off in this. I don't want to over analyze yet don't want to get overly excited. Would love to be closer to home but know I am basically getting 5 properties through this as opposed to one in my area. Which in this area the numbers don't even get me close to the 1% on purchase prices. Rentals seem to be selling for a .5% or less.

@Corina Eufinger  thanks for the reply. I will definitely reach out with anything I have as well as offer what advice I may have. 

@Cody L.  finding those who want to work or "Good Help" is a thing of the past for me. I have tried everything, seriously. It has now become, who can come in on the start date and who can make it to work on time or not complain about working 8 hours a day. Simply baffled by the downward trend in work ethic each year is a new journey. 

@Daniel Hyman  thanks for the kind words. 

Thank you for all the responses. Didn't think my intro would get some many. 

I have been poking around on here for a while now. Felt the need to really get going on this. I run a small but successful window cleaning company. Over the last 5 or so years it is getting impossible to find anyone to work. This among a few other things has caused me to really get more involved and serious about my passion for investing more in real estate. My wife and I currently have a place in Naples, FL which we rent out and also a duplex in Wisconsin. We are in the process of acquiring numerous SFH through a larger investor in our area which we know pretty well. I have quite a bit of knowledgeable connections within family connections but always looking for ways to learn and figure things out without asking them for all the steps and advice. Also nice to hear everyone's stories on the podcasts. Just hoping to connect with some like minded people. I am hoping Ill look back on this post in a few years and think look how far I've come.