All Forum Posts by: Randy Walkins

I used the BP Rental Property Calculator and basically entered the worst case scenario numbers. Based on that, this deal does not appear to be as golden as it looked at first glance. There were a number of expenses that I was unaware of or overlooked. Basically for any of these to be a great deal I need to get them for far less than they are currently being offered. After looking at the County Assessors Website, I can see that the appraised value is far less than their asking price. For the Quad the appraised value is $173K ($250K asking price) and for the Duplex it is $115K ($150K asking price). For this investment to meet my Cashflow and C on C ROI goals I would have to purchase much closer to the appraised value and/or get higher rental rates.

I'm brand new to this but I feel the rents are low. How do I go about updating the units and charging higher rents while they are occupied? Should I buy fix and flip? The Zestimates seem to feel the properties are worth far more than they are being sold or appraised for. I looked at the exteriors and they are in excellent condition. I believe the interiors just need updating. I will have access sometime next week. Let me know what you all think.

Thanks for all your help so far. This site is awesome!

Reed Schlesinger Hi Reed. What's your email address?

Alex Garcia What is your email?

I have tried to get family and friends involved but some people are just afraid to invest money. My folks may help on the duplex. From talking to Hardmoney investors all day I realize that that is not the route I should take. I may try to wholesale this.

My RE agent found what I think is an incredible investment opportunity on a quadruplex in the Marietta area near 75. This is an off market deal so far that I am privy to due to my RE agent's relationship with the sellers agent. I recently decided to put my modern townhouse on the market to have cash to invest in some deals. The problem is that although my townhouse is in a hot market and should sell quickly, it will take a while to actually receive the funds from the sale. This deal wont wait 30-45 days for me to have funds. This is definitely a homerun opportunity.

Here are the details on this deal. I am withholding the address:

After years of reading about it and listening to books and attending RE conferences, I am now ready to dive into this. The BP podcasts have really inspired me to just jump in and take action and learn as I go. It's amazing how the universe opens up to you when you take this optimistic approach.