All Forum Posts by: Susanna B.

This is a two for one special. The first property at 2571 Mount Auburn Street, Augusta, GA 30904 is on a 1.06 Acre lot and has a SFR home built in 1993 at 2, 240 Sq. Ft. that is being leased as a tri-plex with a cottage out back that was built in 1994. The first floor is 2 bd/1 1/2 bth, the second floor is 3 bd/2 bth, and the basement is an efficiency apartment. The cottage is 424 Sq. Ft. and is a 1 bd/ 1 bth. They are all currently leased and bringing in @ $2,300 a month. They need about $25,000 in repairs as all three HVAC systems and the roofs need to be replaced, the hardwood flooring in the kitchens and living rooms needs refinished, the carpets need to be replaced, and the house and cottage need repainting. Along with this property is a second property that adjoins this one in the rear but is located at 720 Monte Sano Avenue, Augusta, GA 30904. This is just a .34 Acre lot with a 16X30 Shop building on it that is in good condition. We are looking for CASH investors preferably and will sell both these properties for $235,000.

@Robert Freeborn  sorry about that I am not sure why that posted to a discussion forum. We have a property that we listed for sale in Evans, GA and that was my note on the listing.

We are finalizing a contract on this property. It is livable but needs about $27,000 in repairs. 

@Charles Kennedy  @Caleb Griffin   Thanks for the input. You are correct in that I should find out more information. I am in Augusta and there are certain areas here that are more investment worthy than others but again, it depends upon the criteria of the investor, and shame on me for not being more specific. We have not discussed it in detail but he wants something that he can invest in that will give him immediate cash flow with little to no rehab involved. If I understood correctly, he is looking to invest around $50K . This would be a duplex to quad multi family. As far as the class of property, I cannot say exactly. I have already recommended Bigger Pockets to him but I appreciate the suggestion. This is a wonderful site for gaining information on all matters pertaining to real estate and investing.

I have a friend who is interested in investing in a multi family in Atlanta, GA. Can anyone tell me what areas are good investment areas to search in?

@Dennis Adler  It is really all about the numbers and what you give for the property. For instance, you find a property that you want to purchase and they want $50K and it rents for $900/month. Well then you take the $900 and multiply it by 12 to give you a year's total income and then subtract your yearly fees from that which is generally about 35%  (10%-Management, 5%-Maintenance, 5%-Vacancy, 15%- Insurance & Taxes.). Now if you want to make a 12% return on this property you will take that final number and divide it by 12%. That will bring you to a total of $58,500. Now you know that you cannot pay more than this for the property if you want a 12% return. It looks good, right? After that, though, you still have to subtract the cost of repairs and, if you are looking to wholesale the property, your fee; so if the repairs are estimated to cost you $15,000 and your want to make $4,000 then you know that you cannot pay more than $39,500 for this property and make a 12% return for you and your investor. If you are the investor, then you can pay $43,500 for the property and make a 12% return for yourself. Inbox me if you have any questions.

@Cristina S. Definitely get a LLC. I am in Georgia and it is not that difficult but you need the protection to keep your business and personal lives separate and safe from one another. If I were you, I would certainly consider the SFR over the Condo.

@John Watson  Welcome to Bigger Pockets.

@John Watson  I am a wholesaler/investor in Augusta, GA and we are home to Fort Gordon and several colleges so if you are looking for anything in this area, let me know.

@Alexander San @Brian Singer  I am a wholesaler/investor in Augusta, GA and if either of you are looking for investment property to rent out, let me know as I can find you some great deals.