All Forum Posts by: Winn Merwin

Hello BP, 

My wife and I are currently rehabbing a 4 unit property in Augusta, GA. We had not originally planned to replace 20 windows, but it looks like we need to. Is the cost of the windows tax deductible? Our CPA is going through the new tax code and seems to be having conflicting thoughts about this.

This is a long term buy and hold rental property for us if that makes a difference.

@Wesley Stewart

Are you moving to the Augusta Area or just interested in the market?

@Bryan Clement @Kenneth Mooney

Bryan, you may be missing out on a great opportunity in Augusta, GA. I own a few rentals in the area and 1 out of 12 renters I have had was military (and they have been a great tenant). There are great neighborhoods all over the area that are growing for many reason outside of the military. Augusta is a fantastic area for retirees to settle due to the low cost of living and excellent access to health care. 5+ hospitals in a smaller town. The baby boomers are also one of the fastest growing new renter segments of the population on the whole. The military community and VA hospitals makes it an even better place to retire for former military members (who are not going to get shipped out and void a lease).

There is a growing college and medical school near the heart of the city which is where most of our renters come from.

The new jobs coming to the area also are creating the appreciation we are seeing. It is a great market if you can get to know it.

Good Luck Damien! I also invest in the Augusta area. Where are you looking in particular?

@Lee Crews

Sorry for the late response. I have been quite bust lately with the purchase of a 4 unit property that requires extensive rehab. It is our first rehab.

What did you decide to do?

To me it really depends on what your goals are. And where the property is located. I am familiar with the market. I have 4 properties currently in Augusta which have appreciated in some fashion. It would be nice to sell them and collect the appreciation, but I do not believe I could purchase something better in this market with the cash collected. 

My goals is cashflow currently so that will skew my opinion. I do have 2 properties I am willing to cash out refinance if I find a deal that will increase my cashflow. Again I am trying to stay in this market currently.

What area of Augusta is the property? Selling it vs. Renting it may depend on the local trends due to the budding nature of many areas of Augusta. 

Good Luck!

@Kobi Gur Good Deal. Let me know if you have any other questions. 

@Brian Eilering 

Great info thanks! I am sure I will have more questions as we get closer to deciding to AirBnB or not.

Are you familiar with anyone hosting an AirBnB for you? Maybe that is an option as you increase units, if the time becomes too much. Glad you are getting the experience now though.

Good Luck!

@Kobi Gur

We are mostly buy and hold investors, so I havent been following the flip market that closely, I have spoken to people who invest in the Harrisburg Area and they believe that will see some appreciation based on proximity to the 15th street corridor you previously referred to. This is also the case for the Laney Walker area which is turning over house by house as we have driven through there. (large  luxury apartment complex under construction here as well). We like the Midtown/Academy Baker and Pendleton King Park/ Highlands for solid 1% deals for our rentals. 

We are not familiar with Grovetown or Evans at this point. 

@Brian Eilering

It seems the secret is getting out. We each need to collect a few more doors while we can and is still affordable and then wait. 

Hello @Kobi Gur,

We lived in Augusta for 5 years after Physical Therapy school and fell in love with the area. It has a very low cost of living and excellent health care. It is one of the top places in the US for retirees, especially those in the military. 

Richmond county appears to be the center of the budding cyber community though I am no expert on this. Augusta University is growing and we have tried to stay close to the school with our purchases, but this also places us close to the downtown growing cyber area.

We have a few rentals in the area and know the blocks around "the hill" very well. Augusta State is at the top of the hill. We are looking to grow our portfolio in this area. We feel it is a wonderful place to invest.

We are currently working through a major rehab of a 4 unit property, and cant wait until they are rented out.

Happy to answer any questions you have about the area. 

Best of luck!

That is awesome. I am quite glad that you are seeing that kind of success with your AirBnB cottage. We may do something similar with one of the 4 units we recently purchased in your area. 

My concern with AirBnB is the time associated with managing it. Are you managing it yourself? Who takes all the emails? Who does the cleaning and turnover?

I know you are at a distance so you have to have some systems in place, how does that work? 

Do you find it to be more of a headache than your long term rentals in the area?