I want to talk to you guys about buying and renovating this house and making some passive income. Let's dive in. This is your show. This is the show where I work for you directly, taking your needs. I'm going through the MLS and I'm trying to find the best possible deal for you guys. Put down 25% that's the perfect way to buy this. That's why real estate investing is the greatest industry in the world. Hey folks, welcome to another episode of the MLS Search and Analysis Show. I'm your host James Wise, you're watching Holt and Wise TV and this is the property. I want to talk to you guys about more specifically. I want to talk to Jeff from Georgia about this property. Now Jeff, I've been spending pretty much all day on your portfolio, helping you build up your portfolio. This is the third video I've done for you today. I think this one is going to work out pretty well. I wanted to hit up some single family homes for you. I've been doing a lot of videos for you showing you a lot of assets, but I wanted to diversify it because you told me you're down for anything that's one to four units, but a lot of the stuff's been multi-family. I wanted to make sure we cover all of our bases, give you the most information possible to work with. This one, 117 Hillsdale Court, Alaria 44035, Ben on the market, less than a month. They listed it at 68,000. Very same neighborhood as the last one. I just did for you that nice little two bedroom unit, which didn't really require much. This one's going to require a little bit more, but we're going to have a bigger rent out of this one. That was a little guy. That was a 2-1. This is a 4-2. We're going to be able to get 1100 and rent out of this. That's 13,200 of the 13,200 expected performance cost. 16,500, 16,000 leaving us with an NOI, 6684, 6,684. Again, that's an annualized average. Do not anticipate it working out exactly how the chart is listed every month or every year, guys. Unlimited amount of variables in the real estate space. We got to give this property some love to get there, Jeff. We need to do a little bit of love. 4-2. Cool little neighborhood right by the park. The kitchen, it looks pretty good from the photos. Just some minor cleanup is going to be needed in the kitchen. I think it might even look like we need to do repainting of the whole home. It's hard to tell in some of the photos. Some of the photos, like this photo, for instance, the walls all look pretty darn nice. Looks like we got no issues. The flooring needs some love in here. Looks like they had carpet over this and they probably pulled it. But some of the rooms, it looks like they need to be repainted. I've budgeted $15,000 for us to put this thing together. This picture, right? If you look at this picture, because guys, listing agents their job is to sell you the property. They're job, well, it's not necessarily to sell you Jeff the property. Their job is to sell the property for the seller, the owner. So their job is to present the property in the nicest possible way. You might think that from this photo, you're like, oh man, what's he talking about? Why do I need to spend 15K? This thing's rent ready, the walls look fine, everything looks fine. But look, when you actually get up close and personal and the tenants are in there, like you're going to see a lot of imperfections that are being hidden by these pictures. And that's nothing shady or shiisty. I'm not calling out this seller's real estate agent. That's their job. That's what they should be doing. But like right here, you know, you could find clues. Like look at this. I'm pretty sure somebody had a dog in the dog, like chewed half that fuck her off, right? So things like that, you're going to want to remove the window treatments. That's going to leave nicks and holes in the walls. You want to get rid of ceiling fans, you want to get rid of chandeliers, stuff like that. Things that people could hang on or break, you want to get rid of. So I've went ahead and budgeted $15,000 for us to go in and cosmetically clean this thing up. Like this room looks great, man. I love the exposed brick. The walls all look good and here. But I don't anticipate every room is going to be perfect. And like, you know, you go to here, right? Like this obviously ain't going to fly. This one's obvious. We need to do some work in this stairwell for sure. Like that's clear. So she's definitely not ready, but she's close, right? She's definitely close, okay? Another shot of the kitchen. And then here's the second bathroom. You know, looking, yeah, okay, whatever. It's a little dated. I'd like to see us replace this vinyl flooring. Let's get rid of this toilet, you know, one of these old toilets with like the gross little what the heck you call these. You know, fabricy toilet seat cover things. We'll get rid of that. That's not cool. We'll toss that. And then there is this. I, truth be told, do not know what's going on here. Like this is like a gutted out kitchen that I'm thinking they tried to put this in like the basement or maybe there's like an extra room that they tried to make like an in-law suite. So we don't want to do anything with that other than remove all the remaining kitchen fixtures and just repain everything, right? Just make it like a very big room because that appears to be off of a bedroom. Like this whole thing is goofy, right? So I think we're going to spend about 15, but this thing is a little goofy. So after the inspection, I'll know a little bit more info so that could potentially move our budget a little bit north. But all I really want to do here though is just clean it out, repain it, make it its own room. At no point are we trying to like install a new kitchen in there. This room you need to replace the carpet. Definitely get rid of these walls, what you call it, the green mint old school looking green color on the walls. Get rid of that. Probably pull this carpet. It looks okay in this picture, but I'm sure probably needs a little bit more love. This room needs some love. Okay, updated electrical. That's awesome. Brand new furnace. That is awesome. Brand new hot water tank. That is awesome. That's our big ticket stuff. We want to also tack on another 2K to the budget to drylock this basement. I didn't include that. That's definitely something we might want to tack on. That'll be your call. We'll offer that to you as a premium upgrade. All right. And that rounds off all of our photos, right? So big old house, lot of rent. Okay. As far as our budget goes, about 15K plus if you want to spend about 2K, drylock in the basement, you can. And then like I said, I'm going to have to get a little bit more info post inspection on what exactly is going on with that like former secondary kitchen thing. That could make the budget go up a little bit. But assume that we can get everything ready to rock and roll for you for 15K, I think the appropriate purchase price for you is 60,000, right? So you'd be all into the investment for 75,000. Now that would be an 8.9 cap. And if you were to like buy it cash, right? Because it's pretty messed up right now. And then you put in that 15,000. I'm not even saying we can, I'm not even like projecting the side as like something will get to a praise higher than that 75,000 dollar purchase price. Like I think like what we're going to do to it, I think about 75,000 is kind of like right where things should be in that particular neighborhood. So don't think it's like going to be a sweeper deal where you know it'll praise for 100. I just don't see it in that particular neighborhood. I think about 75 is kind of going to be our ceiling. So you pull the money back out, you'll be able to pull out 56,250. Thus meaning you only left 18,750 in the deal. That would be a 20.5% cash on cash return. So all in all, I think it's a pretty solid deal. Now, a cool thing is say we get it under contract at that 60,000 dollar price point, we're going to have some back and forth, right? With the listing agent after that inspection. So after the inspection, you know, I know more information about like what specifically needs to happen in that like former secondary kitchen unit, right? Like I'll know more about that and I'm sure other stuff will be uncovered. We may want to go back to that seller, right? And see if we can beat them up a little bit more because I really don't want to see you all into this investment for more than 75. I think 75 is really where I want you to be maxed out at. So if it turns out my $15,000 budget looks like it's going to turn into a $22,000 budget, I'm going to try to tack, try to knock the rest of that off that purchase price, right? So if it looks like my budget's going to go up 7K, I'd want to go back to the sellers and try to beat them up for another 7K discount, right? So that's what I'm thinking on this one. But it's got some promise, a little bit of unknowns, but I think there's some promise on this one. That is simple and clean and easy like the previous one in Alaria. Are you a lender? If so, Holt and Wise is looking to partner with you. If you're licensed in all 50 states, go to Holt and Wise.com. Click the Digital Media tab to advertise on Holt and Wise TV today. But this one, you got the $1,100 rent coming in, right? Whenever you get the opportunity to buy these big old homes, it's always good because we could really max out the rent one around the section 8 program. So that's my thoughts on this property Jeff. These are all three of these that I've done for you today. I think they're all pretty solid investments, but it is not my portfolio. It is your portfolio. So, take the information. Let me know what you want to do. You want to write offers on all three of the ones I sent you today. Do you want to write offers on just this one? Do you not like this one, et cetera, et cetera? Give me your feedback. Let me know your thoughts. And then when I hit up the next round of videos for you, I will take that information in, adjust accordingly. And of course, if you want to write the offers, we'll get this going. We'll coordinate the inspections. And we'll handle the rehab and property management for you. Post sale, everybody else. If you want to work with me just like Jeff is, send my team an email, sales at Holt and Wise.com. Give us your phone number. We'll give you a call. We'll talk to you. Explain our process. Try to learn a little bit more about you. See what you're trying to accomplish. 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