All Forum Posts by: Joshua Austin

@Cody J Leivas that would be great. I’m DM you.

@Nicholas L. Thanks for the encouragement! My advice for scaling is to ALWAYS BE NETWORKING for finding deals and funding them. You also need to get involved in an active income path that can drastically get your income up. For me it was getting my real estate license and doubling my income through sales.

A few things I live by regarding deal analysis:

Always remember “no deal” is better than a bad deal.

Filter every deal with three questions (this comes from Kieth Cunningham’s book “The Road Less Stupid:”

1. What’s the upside?

2. What’s the downside?

3. Can I live with the downside?

Always glad to share my journey and experience. Feel free to DM me.

Consider Savannah too. Lot of opportunities still!

I have spent the last 4 years building a strong SFH portfolio that sits at 26 homes total. In addition to those that we have kept, we have completed a half-a-dozen flips during this time as well. It's been 4 years of solid base hits but I was honestly getting a little burned out and bored with the process. Then I got a taste of COMMERCIAL.

Next week we close on our first Commercial deal. It was off market and it's an industrial complex on 5 acres near Savannah, GA. It butts up against a major interstate and the building is 10,000sqft with 3,000 of that being office space. We have a tenant lined up to sign a NNN lease the same day we close and the numbers are just incredible. We are buying this property at a 12 CAP and the tenant is strong. They are the second largest freight company in their space in the country.

Purchase Price $1,250,000

Renovation cost that is mostly fencing and crush and run $300-350k

Total rent year one is $17,500 per month ($210,000 annually) NNN with 3% increases annually.

Here is my question. WHO IS IN THIS INDUSTRIAL SPACE and HOW CAN I GET ON A ZOOM WITH YOU?

I want to grow in this space. I am ready to stop hitting base hits in SFH and begin hitting more HOME RUNS in the commercial space!

Be very cautious of Tybee right now. The city council has passed some crazy bans on STR in recent months and people are selling left and right. Lots of uncertainty and I would not venture down that path without an agent who knows that market very well.

Lots of area around Savannah that are prime spots for STR. We own a lot of rentals in the area. I have kept it to LTR and MTR because I haven't wanted to deal with the hospitality factor but we are currently renovating what will be our first 2 STR in a historic little town called Guyton that is 45 minutes from downtown Savannah. There is a lot of charm to some of these suburb communities and lots of family draw. This particular house will sleep a lot (It would be super costly to find a similar size place downtown savannah) and it will have some fun memorable features such a slide inside the house, an in ground pool outside, and a golfcart for crusing the community.

Did you find you a place here and a solid lender? Let me know if I can point you to any good ones if not. Scott Morgan with Savannah River Mortgage is my hometown hero for lenders! haha

It's a great market. We own a couple of dozen rentals here. Lots of opportunity. His boss and the owner of the Banana's is a real estate investor. He should chat with him. GO BANANAS!

Steve, I am curious to hear more about your goals We have began converting a large portion of our property to MTR. We currently have 1 in Savannah and it is doing exceedingly well. Lot of travel nurses, movie studio crew members, and working professionals. I personally love it because it is hands off like the longterm rentals with twice the rent. Currently we are getting $2400 per month for a 2/2 condo furnished that we are $65k all in for plus $8500 in furnishing. These same condos are selling for $110-120k right now but only one other friend of mine is taking advantage of the MTR option in the community. We own 12 and are beginning to convert them all.

Isaiah, how did this turn out? I'm in the Savannah area also. I did a seller finance deal with a seller once and bought 8 properties from him. It took a long time to build the relationship but I was able to secure the mecca 100% seller financing that we all dream about. haha. I am happy to share my experience anytime.