All Forum Posts by: Zac Caudell

Great income producing property. Built in 2006 with vinyl siding. Previous tenants were evicted. Needs interior paint, carpet, and good cleaning (probably no more than $8,000). Rents around $1,400, but an Atlanta Housing tenant (Section 8) can get approved for up to $1,550. 

@Keidrick Cole Just went under contract a couple days ago. No more showings unless the contract falls through. 

@Annie Koonapareddy sent you a pm. Call me if you have questions. 

@Brett Keenan just sent you a pm

Incredible opportunity for cashflow! Buy a duplex and a SFR for the price of one house. The property would also be great for house hacking, live in one unit and rent out the other two. Get your mortgage paid and have cash flow! Rents listed above are higher than average because utilities are included. BONUS: There is a well and a creek on the property! (Do not disturb tenants)

Gross Annual Income - $49,200

Property Taxes - $ 3,093

Insurance - $ 1,680

Utilities - $ 4,800 

Annual Cash Flow - $39,627
Monthly Cash Flow - $ 3,302

Repairs Needed

Duplex - Unit 1 - $10,000
Needs a new roof, some cornice and facia repairs, new AC unit

Duplex - Unit 2 - $0
No repairs needed.

House - Unit 3 - $30,000
Needs a new roof, some cornice and facia repairs, new siding on one side, new kitchen, new downstairs bath, sink install for upstairs bath, flooring throughout, some drywall install, paint throughout, and some interior doors.Repairs already completed: demo, new slab foundation, new kitchen floor system, new beams for open floor plan.

See all photos at these links:

Duplex - Unit 1
Duplex - Unit 2
House - Unit 3

2.5 acres available in the City of Dacula. Room enough to build 3 houses on 3 lots, or build 1 house on a 2.5 acre estate lot. We can build your custom home or bring your own builder. There is a 3/1 house on the land but it is unusable and needs to be demolished.

Details
Price: $119,900 for all or $45,000 per lot
Acres: 2.42
2016 Taxes: $1,887
Zoning: R-1200 (1,200sqft dwelling minimum, 100ft road frontage)
Schools: Dacula HS, Dacula MS, Dacula ES

Real Estate Agents: Bring your buyers, we will pay your commission!

@Bob Kaufenberg @Vernon Brown Unfortunately I don't have a lot of information about the property management company. I'm wholesaling this house through a double closing, so I don't technically own it just yet, I only have it under contract to purchase. I can tell you that the current tenant has been in the house since June of 2016. I don't know the property manager's rate or how long they have managed the property, but if you send me a private message I will tell you what the name of the company is.

@Vernon Brown @Blake McCoach 

Good news: This property is still available as of Wednesday morning, and I was able to get the price reduced by $8,000.  The new price is $66,900. Here is a link to the interior photos:

https://www.dropbox.com/sh/u5jqatuuec2cej4/AABi-dV...

If you are interested and are serious then let me know and I can work to set up a new inspection time.

Purchase Price: $74,900

Rent: $965

Taxes $1,925

ARV $85,000

Repairs $0

Monthly cash flow: $367 (assuming 80/20 loan at 6.5% and $700 annual insurance)

Cap Rate: 12%

12% Cap rate on this buy-and-hold in Stone Mountain in Dekalb County, GA. There is a Section 8 tenant already in place with the full rent amount being paid by Section 8. That means no chasing down late rent payments, instead they are direct deposited into your account every month! Property management is in place as well, or you could manage it yourself.

Only exterior photos because house is occupied. There is an inspection period to view the inside for potential buyers scheduled for this Friday afternoon (March 10). 

Private message me for full address and inspection times.

House details: 

3/2.5; 1560sqft; built 1980; 1 car garage; unfinished basement; vinyl siding; county sewer

Comps:

5522 Marbut Rd. Lithonia, GA 30058 sold 1/31/17 $93,500

5306 Scotland Round Stone Mountain, GA 30088 sold 10/27/16 $85,000

2065 Mallard Crst. Lithonia, GA 30058 sold 11/6/16 $84,000

2118 Scarbrough Dr. Stone Mountain, GA 30088 sold 9/28/16 $82,500

HOUSE IS OCCUPIED. DO NOT DISTURB TENANT.

@Stephen Grass I just posted a buy and hold SFH in Gwinnett County in the marketplace. The purchase price is $99,900 and it needs $8k-10k in repairs. The house has been renting for $1200. Here is the link, let me know if you're interested. Thanks.

https://www.biggerpockets.com/forums/517/topics/412766-buy-and-hold-in-gwinnett-county---430-month-cash-flow