All Forum Posts by: Sheryl Gurvey

@Giavonn R. definitely!  Would love to.  I just started my yellow letter campaign as well.  I am also looking to buy a multi family for a buy and hold.

Hi and welcome!  Great job and great start.  Keep us posted on the deals.

Welcome @Harry Patel

You've come to the right place!

Welcome @Shane Odom!

There's a great REI group held in Cartersville. Great networking and great info. You should check it out.

 I would say take the time and look at it regardless.  If nothing else you would learn a lot from the action taken.

@Corey Hajduk

Hi @Christopher Lee.  You are definitely in the right place.  Don't hesitate to reach out to this amazing group of people with any questions.  The podcasts are like striking gold!!!

Welcome fellow Georgian @Christi Hatchett

I am on a similar path as you are.  You will love Bigger Pockets and all it has to offer.

Please reach out with any questions you may have.  There are so many knowledgeable people on here.

this is the current owner's policy.  I think it is his way of not dealing with late fees and probably positive psychology for the tenant.  I am not sure if it is written in the lease.

i am looking at a property with tenant in place.  Tenant is happy and would like to stay with the house as-is.  If it were vacant I would put around $10k into it right away to cure some issues (mainly cosmetic like flooring, paint, add dishwasher, refinish deck and maybe new tub.  Long term capex I see is the roof in 3-5 years, but still good now, and new windows someday.  Systems are 7 years old.  Brick exterior.

First question is do I consider as-is with happy tenant or analyze with future repairs?  Rent would be 900 with upgrades.  How would I do repairs anyway with tenant in there?

Here are the numbers but please keep in mind that in would NOT pay the asking price.  I would like opinions on what price would make this a good deal.  Seller is negotiable.

Asking price 69,900

Rent 820 (but tenant gets 25 discount for paying early, so 795 because they do)

Vacancy 40

Capex 48

Mgt 80

Taxes 98

Ins 60

Repairs 64

PI 300

CF 106

Meets 1.1% rule

7.72 COC

C to C+ neighborhood with continual improvement.

Thanks!

Thanks @Account Closed!  Come to GA and we can work together.