All Forum Posts by: Paul Smythe

@Kevin Yi you will get a lot of different opinions from a lot of people. It's a very nuanced answer, so I think it makes more sense to determine your goals and then pick the property type that best matches those goals.

Generally, you will have more vacancies with multifamily, but you will also fill those vacancies much quicker than other commercial types. Commercial tenants tend to stay in one location for a lot longer, but the vacancies are also longer and hurt more.

What are your investment goals? I would say that multifamily is a little easier to wrap your head around if you're just starting, but I'm sure there are some who would disagree with me.

@Brian Pinckard I figured. That makes much more sense. Seems like you're on the right track here and this could be a good investment for you.

@Eric Odum could you clarify what these changes are? What do you mean about the search feature going away?

@Jerry Shen please do, I'd love to see you kill it!

I think you may have mistyped the monthly expenses (adds up to over 8k), but I think your analysis below is spot-on. It ultimately depends on what your goals are as a buyer. If you are satisfied with a 12.5% cash-on-cash return then it's worth going after. If not, keep looking.

20% down on the financing is good. Wouldn't hurt to shop around more, but the terms you have right now seem pretty solid.

Can't speak for cap rates as I don't know that area, but 9 sounds right. Solid investment all around. It just depends on your goals.

Let me know if you're looking to get into any Commercial investments in Atlanta. 

$3,750,000

Offering Memorandum download available here: https://drive.google.com/file/d/1ONYjp7t8oic1w5lIy...

I am excited to present this 71-unit portfolio for sale. The portfolio consists of the following:

• 24-unit property
• 8-unit property
• 6-unit property
• Five quadruplexes
• One triplex
• Five duplexes

The portfolio is consistently at 100% occupancy (with many long-term tenants) and generated $299,717 Net Income (NOI) in 2017. The 24-unit has an income-producing laundry facility. Gross Income in 2017 was $517k. There is definitely room to increase rents, as well.

Three properties are part of the Airport's Noise Insulation Program (NIP), which pays for certain modifications to help reduce noise for occupants. 1592 Harvard Avenue (one of the three) has already completed the Noise Insulation Program.

All properties are very well-maintained and within 2.5 miles of each other. They are clustered in growing areas in East Point, College Park, and Hapeville. Properties are close to Hartsfield-Jackson (busiest airport in the world), I-85, I-75, and I-285.

Call or email me: (770) 288-5000, [email protected]

New Listing: 12-unit Condominium Portfolio in Norcross, GA

$1,290,000

• All 3BR/2BA units with 1345 square feet
• All units in same condominium complex
• 100% occupied with gross rents of $1,050/unit ($12,600 monthly, $151,200 annually)
• Net Income of $110,000
• Multiple investment strategies
  • Increase rents (currently below market) and hold
  • Sell individually in retail transactions

Full listing, including offering memorandum: http://www.loopnet.com/Listing/Norcross-GA/9784230...

Call Paul Smythe (770) 288-5000 or email [email protected] with any questions.

@Alisha Decoteau I'd just use the 50% rule for rough underwriting until you get the actuals from the seller. Divide the Gross Income by 2 and that should be a good NOI estimate.