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Updated about 3 years ago on . Most recent reply

Account Closed
13
Votes |
11
Posts

New Atlanta flip property

Account Closed
Posted

Hey BiggerPockets Fam, here is a recent flip we just completed! Purchased for 175k, rehab was just about 100k and ARV of 365k. It lasted about we weeks. Unfortunately we just got it listed during this season which tends to be slower. We are anticipating to hold it for a few months. It is also in a transitioning area of Atlanta. Our plan come March if not sold is to refinance and rent.

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9
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9
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Dustin Thomas
  • Investor
  • Arlington, VA
9
Votes |
9
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Dustin Thomas
  • Investor
  • Arlington, VA
Replied

(Business Partner of Kalebs) This was great experience for us. We bought in a Class D neighborhood under the impression it was transitioning a little faster though. When we bought there were two other flips in the neighborhood underway. Unfortunately, they have both been completed and sat still on the market for some time. 
Due the fact it is a Class D neighborhood, were thinking through the backup plan of refi--> rent in a few months but wondering how it might work if our best option is to use Section 8. If anyone has any advice in this arena that would be great. 
Are there other more creative ways to market this property? 

We have been scrubbing other deals in Atlanta over the last few weeks and they appear to be drying up as well. Another market we are entering is San Antonio. Please reach out if you have questions or would like to connect. 

Dustin

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