All Forum Posts by: Dave Williamson

Hey guys, this thread is old, but has some great info. I'm hoping to get the conversation rolling again almost a year after the recent posts. 

What type of RV ratios are we seeing in successful turnkey properties? Is the 1% rule safe? 2% rule?

Most of the properties I'm looking are priced in the upper 60k range and rent for $800-850 per month. Will that generally turn cashflow after maintenance/etc? My calculations say yes, but I'm interested to hear long term, 3, 5, or even 10 year experiences with holding turnkey properties. Anyone?

Thanks!

- Dave

Thanks David!

Thanks, Jarrod!

I'm currently considering a single family turnkey property in Birmingham with the following numbers. This property is completely renovated, all hardwoods for lower maintenance inside, new roof, new electrical, all new HVAC. The property is in a solid B neighborhood (Center Point/Roebuck). Is it a smart buy?

3 bedroom / 1.5 Bath

1250 sqft

I ran numbers on it and tried to be as conservative:

Purchase: $67,500
Cash To Close: $15,000
Monthly Rent: $800

Mortgage/tax/ins: $420
HOA: $0
PM: $80
Vacancy: 10% $80
Repairs: 7.5% $60
TOTAL: $640

Income - Expenses = Cash Flow -> 160

CAP Rate = 9.1%
Cash on Cash = 12.8%

 I plan to do business in both. My plan is to have a few LLCs with about four houses in each within the next 24 months. Why do you ask?

Thank you.

The Alabama SOS site appears to show that an in-state address is needed for registering an LLC (domestic and foreign). I don't have an office in Alabama to use for the registration. Any advice?

Hey guys, beginner questions here:

I'm shopping for my first buy and hold property and want it to be owned under my LLC. I currently have established an LLC and have my certificate of organization.

The LLC is based in Georigia and I'm looking to buy in Birmingham.

Is there anything else in particular I need to establish to close on the property? (e.g. Bank account in the name of my LLC, etc)

- Dave 

@Fitzgerald Hall I would be interested in talking. I've been doing my share of reading and listening to pod casts. Looking into and analyzing actual properties is the next logical step.

- Dave

 Ideally under $140k. Is my post showing now?

Hi All,

I am a new investor located in the Atlanta area. I am interested in finding a couple turnkey buy-and-hold properties in the Metro Atlanta or Athens, GA area. I'm open to single tenant homes, duplexes, or up to a fourplex if the cash-on-cash return is in the right range.

Any recommendations for reputable turnkey companies in the area?

- Dave