All Forum Posts by: Lane Pate

Bruce Silverman thanks for the feedback. I am not looking for big rehab projects but rather small minor cosmetic SFH's to buy and hold long term. What has me so attracted to Dublin are the rent to value numbers which look very good easily hitting the 1% rule and higher. It appears rentals are in high demand in Dublin but I'm sorta out of the loop as far as growth down there. I grew up in Dublin and left for college then time in the USMC. Haven't spent much time there since the early nineties until just recently as I'm exploring new markets to invest. Peachtree City where I currently live does not seem to make since to me to invest in SFH's as properties are to high to create positive cash flow. Rents just don't make up for the cost of real estate here. Maybe investing for appreciation in Peachtree City but I find it hard to cash flow here. I admit I'm a newbie at this for sure and welcome any advice and more feedback. Thanks!

Good morning from ATL,GA 

I was curious if anyone out there has any experience investing in Dublin, GA ? This is a small community about 2 hrs south of Atlanta. The numbers look very good in this market and there seems to be good industry with jobs on the rise. The Veterans Hospital I believe is still the largest employer in town. I would appreciate any feedback if you have experience in this market or surrounding markets.

Thanks!

Thanks guys for the advice. That's what I love about this site. 

Now negotiating sales price at 300K and he hasn't raised rents for three years.

Quad across the street is getting $4450/month in gross rent. Anyway, still vetting the deal but thanks for all the input and great advice.

Lane

Sorry here are the numbers that I have calculated. Please look for anything that doesn't look right. Purchase price $340k Monthly Gross income $3,940 Total Monthly expenses= $2,770 Taxes, ins, vac, repairs, capex=$700 estimated Mortgage $2,070/month Monthly Cash flow $1,170/ month Total investment out of pocket= $58k $51,000 down payment $10,000 closing cost NOI= $38,880 Debt service= $24,840 Annual positive cash flow= $14,040 ROI= 24 % What am I missing? Thanks!

Here are the financials on this deal. IMG_1456.JPG Please let me know if you cannot see attachment. Thanks Lane

Hey BP community. I have a deal I'm trying to decide on. 2 four plex units for 340k In Georgia. Gross rent is $3940.00 / month. Further analysis factoring in expenses and debt service show this property would performed quite well. They will be sold as commercial real estate as they share a well. Hadn't planned on going this route as my original plan was to get started with a single family first. Pretty big step with first rental property. Any advise or suggestions would be greatly appreciated. Thanks!

Thanks Rick, really appreciate the advise. What do you think about a Duplex in Palmetto GA for $89,000 with two tenants in place $700 each side? This would be a C' class at best neighborhood.

Thanks Greg!

Thanks for all the replies. Gonna have to move fast as this deal will be gone soon. I'm sure this would be easier if it wasn't my first potential investment property.

Good afternoon BP, I was curious if anyone has invested in rental property that was covered in asbestos siding? Would you consider purchasing property with Asbestos? Look forward to any replies. I found a really good deal on a duplex built in the late 50's with asbestos siding. It was under contract but back on the market again I'm sure for this reason. Could probably get this unit at a steal. Thoughts? Thank you