Buying the Cobra Kai Mansion for Airbnb

[Chad Carrodus]

Investment Info:

Single-family residence buy & hold investment in Marietta.

Purchase price: $2,400,000
Cash invested: $300,000

The "Cobra Kai Mansion" from Netflix's world hit Cobra Kai.

What made you interested in investing in this type of deal?

The rise of experience based Airbnb's, the growth of Metro Atlanta, and the property itself. The History dates far back beyond the filming and income produced from Cobra Kai, serving as Daniel LaRusso's home and appearing in dozens of episodes throughout the seasons.

How did you find this deal and how did you negotiate it?

I was the listing agent then after seeing the global reaction to the listing and the interest from massive publications, I decided to approach the sellers with an offer.

How did you finance this deal?

I syndicated a fund and negotiated a seller second.

How did you add value to the deal?

1) Deferred maintenance
2) Professional design, landscaping, and misc. upgrades
3) Built a functional guard house and gated the property to complete enclosure
4) Income based valuation vs. comps

What was the outcome?

Amazing! Google Cobra Kai Mansion!

Lessons learned? Challenges?

Too many to type. Happy to discuss the story on a BP Podcast :)

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I was the agent on both sides. I worked with a securities attorney for the syndication and closing attorneys for the creative closing.