Caption transcript. This text is pulled from YouTube captions and may contain minor wording errors.
[00:00] Hey guys, rain today. Um, man, unfortunately, it's the day I was able to get out here. [Music] This is probably the perfect property. Take a look at this. I kind of run through a couple things. The um just the uh front porch, everything was pretty
[00:23] well renovated. Looks very nice. Solid home. Um there is quite a bit of parking. There's also some street parking um over here. You see me out there on the road. So, you could even you could turn this into a room. Uh you could probably even turn this into a room right here and then incorporate
[00:43] this door and then this would be the main door for everybody else to come through so somebody gets a private door. Um and then you go down through here, another bedroom. That's just a small closet. So, another bedroom easily walled right here. kitchen. Beautiful kitchen. Brand new. Got the quartz, you
[01:03] know, shiny, glittery countertop, white shakers. Very nice. Um, there is laundry. There's also, so we're at three bedrooms potentially, right? You can do three over there. There's number four. Here's a bathroom. Did I just show you this one? I don't
[01:26] think I did. Everything looks nice. Got the the gold trim. This is bedroom five. This is six. And then you have this big room over here. So, I mean, you can do however you want. You can make it fewer bedrooms.
[01:47] Um, but there's so much space here that you can, you know, you can keep the living room completely intact as a as a living room. And this would be bedroom uh five, which honestly, if you look at it, I mean, this could easily be two bedrooms. Um, it's huge. This is a huge bedroom. Uh, it also has the master
[02:06] bathroom right here. So, um, and then huge closets. Um, I mean, there's so many like you have you really have endless endless possibilities cuz you could take out this closet and extend it back another 5 ft over here and that would give everybody access to this master
[02:25] bathroom. So, and then you could turn you you could basically remove these closets and just turn it into a lot more space here. So, that way you can um turn into two bedrooms and give access to that that bathroom right there. So, anyway, let me show you the bathroom. It's like the same as the other one, but
[02:43] Florida ceiling tile and this. So, anyway, that's about it. All right. So, I've recently done even more work on this deal that I uh just you just saw. I uh put some numbers in here and you know, if you take a look at this three roughly 303,000 with some
[03:09] discounts, right? purchase price and then you go down. You have to make some assumptions like your interest rate, your down payment and taxes and insurance I think are pretty fair. Look at everything here. You can look at the pad split, you know, 760 a month just in utilities and landscaping, internet, all
[03:30] that stuff. So, here's we have eight rooms. We have eight legitimately goodsiz rooms. They'll be getting about $190 a week based on Pads Split's own data map. 90% occupancy. Maybe maybe it should be 88% but you know it's close. Um we're looking at that much
[03:52] a month in cash flow. So somebody tell me is this a good deal? Is that a good deal? I don't know. Here's the assumptions on a 5-year hold appreciation and and a Y growth of 3%. Let's see. Where is it? Uh pad split. I
[04:20] think I can mark it here. Pad split. And oops, that's not what I wanted. 9.47 47 cap almost 11% cash on cash and that actually might be low cuz the last time I looked at it was a little bit different so I might have been running some different numbers playing with some things internal rate of return almost 14
[04:49] 1.5 over 5 years remember IRR tends to grow after 5 years it doesn't usually stay um I think it was like 16% at the year 10 so Um, anyway, I don't know. Is this a good property? Is this a good investment? I'll let you take a look at all these numbers
[05:15] for a turnkey property with a new roof and a new AC.
