Investment Property #3 | Off-Market Deal | 20% CoC Return

[Ryan Copeland]

Investment Info:

Townhouse buy & hold investment in Atlanta.

Purchase price: $162,500
Cash invested: $56,000

On Friday March 18, 2022, I closed on investment property #3 🏠. Earlier in the week, on Monday March 14 my son was born!

THE NUMBERS
💲️$162,500 purchase price
💲️$201,000 appraised value
💲️$51,000 cash to close
💲️20-22% CoC Return

THE PROPERTY
🏠1472 sq ft
🏠 3BR, 2.5 BA
🏠 Townhouse
🏠 Built in 2008

THE BENEFITS
✅ No hassle deal for the seller
✅ I paid all closing costs
✅ Quick Close
✅ Problem solved for the seller
✅ Property Acquisition
✅ Instant Equity

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

It was an off-market deal in Atlanta, so I knew I wouldn't have to get into a bidding war to acquire it. The seller just wanted to get rid of the property. No realtors were involved, we agreed on a purchase price and we closed easily with no issues.

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

I found the deal though a gym buddy. He called me because he knew I invested in real estate (I had been letting people know) and he also knew I had investment properties in Atlanta, even though we lived in SC.

He asked if I knew any Realtors in Atlanta, I said I did, but wanted to know what he was looking to sell. I saw the property, had some interest and started the conversation about purchasing.

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

I bought the property with instant equity! All I have to do is go in and add some fresh paint and I'm going to update the light fixtures.

What was the outcome?

This is another step closer in fulfilling the vision I have for my life. Nothing has been easy for me, it has always taken time, perseverance, consistency, hardships, lessons learned, education and diligence.

Looking forward to more acquisitions this year. I made my first intentional purchase in December of 2020 and it's been hard knock after hard knock since then. This deal helped to increase my confidence and definitely helped with momentum. It hasn't been easy, but it's been worth it.

Lessons learned? Challenges?

The primary lesson learned here is to let people in your network know what you're doing. That's how this deal came to me.