Class C Properties Investment

[Wave Taylor]

Looking at a few multi-properties in C-Class areas. Are there any success stories out there with these type of properties? Would love to hear them. Thanks!!

[Michaela G.]

Well, I just did something that I would love to sort of repeat in another C or D neighborhood, with a small multifamily (10-12 units), that are all vacant:

I created a creative community on one block. 6 duplexes. Fence all around and a big wooden gate, that we close at night.

Did different renovation than standard: metal accent walls in living room, modern lighting etc. And advertised like crazy on craigslist and artist forums as creative community. 

We attracted people from all over Atlanta, who would have not considered moving into this area by themselves, but were drawn to the community aspect and hanging out with other creatives. These days most people hardly know their neighbors and many people are really looking for friends with common ground. 

We are able to get higher rents than the rest of the neighborhood, the fence and gate makes everyone feel really safe. We've created a little island and people have really been connecting and are hanging out together around the firepit . My partner dropped off a whole load of firewood and every few days someone starts a fire and others come out. 

They all have a common thread: utilizing the right side of their brain for their art, while having a full-time job that allows them to pay the rent. 

I don't expect them to move out as easily, as they might in a normal house or apartment. Friendships have formed and it's really become a community. I'm in awe how well it has worked. They're also looking out for each other and nobody can just walk onto the property without someone noticing. 

Hopefully, we'll be able to change some of the stigma that this neighborhood has by our artists telling artists that this area is really pretty cool. Maybe other creatives will start renting or buying around our community. 

I've owned 2 of those duplexes for a few years and all the others were owned by other people. Nobody worked together. Tenants weren't looking right or left. Lots of crime in this particular cul-de-sac. I was lucky to get a tenant who was willing to pay $ 495. Constant evictions. 

Now I'm getting $ 825 for those same units and tenants are happy. Black, white, hispanic. men, women. The youngest is 3.5 and the oldest 59. Painters, photographer, Radio dj, festival entertainer, videographer etc.