All Forum Posts by: Kenneth Mooney

I am selling a SFH in Augusta, GA for $90k. I have a quote from my contractor for $95k but he said that number would change if he would do the work for someone else. I'm guessing to about $105k.

The house would retail for anywhere from $265k-$320k. I have the comparable sales to support selling for the $320k. 

Closed on it last week and would love to be able to sell it before I finish my other rehab. I am only offering to sell it because I am doing another rehab. Once the other renovation is finished I will begin this one. 

Pass this along to anyone you know that would be interested!

@Nick Vehr do not count out the MLS though. I am a Realtor and can attest that their are in fact some deals on there. Not many but because no one thinks there are deals.... I have noticed more deals start to pop up :)

Hi all,

I am a Realtor/Investor in Augusta, GA. Augusta, GA is an extremely good rental market. 

I am always looking to connect, brainstorm, and help in any way I can. 

Feel free to reach out as I would love to connect with more of my fellow investors! 

Thanks,

Kenneth Mooney

I already had the cash readily available to do my first deal so there was no thought on how I was going to finance the deal as I already had an investor with the cash. 

I knew for my first deal I wanted something "safe". So I went after the area that would produce safe results but still results that would beat my other investment options (stock market). 

I was already an agent. 

I wouldn't have used an agent but I would have used a good wholesaler. I would have hustled to partner with someone who had private money had I not had the money already. I would have invested in the same exact area for my first deal! 

P.S. The safe investment ended up netting me 14.6% COC return my first year.

Which apartment complex is it and can you send me any financials.... [email protected]

Hey @Tyler Walton , I just sent you a request and message!

I always do 10% management fee, 10% maintenance fee, 5% vacancy fee (strong rental market in Augusta, GA), then I estimate what insurance is based off of other properties, and I look up the taxes in the local Tax Assessors website and go from there. 

If you do not know what the insurance would be then just call an agent and get a quote and use that. 

I'm not sure if you are looking to buy as a rental but if you are make sure you have a minimum cash flow per door!

Hey Kris, I dont know why you wouldn't be able to buy a FHA as an LLC or Corp... that being said most of my clients pay cash.

If you ever had any issues I'm sure you could always quitclaim the deed over to your LLC or Corp after close to protect your asset.

I would recommend opening up an LLC to protect yourself. Really just depends on your preference and risk tolerance I suppose. There is not really a right or wrong answer in my opinion!