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Updated about 1 year ago on . Most recent reply

User Stats

7
Posts
0
Votes
Viviana Martinez
  • Real Estate Agent
  • Atlanta, GA
0
Votes |
7
Posts

Full renovation and second story addition in Westview before & after!

Viviana Martinez
  • Real Estate Agent
  • Atlanta, GA
Posted

Investment Info:

Single-family residence fix & flip investment in Devils Elbow.

Purchase price: $155,000
Cash invested: $220,000

Purchased this property in Westview and completely transformed it. Permitting took longer than expected at the city of Atlanta but the addition of the second story made it longer since arborist and site have to sign off. Budget was $200k but ended at $220k since I didn't want to compromise on certain items. Regardless I am super happy and proud of the end result!

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

I have been Project Managing flips for investors and working with a team for 6 years, managing over 50 flips. I decided to go on my own and do my first flip aside from my personal property. I was able to manage everything and design every detail.

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

I knew the seller from previous investments but he decided to list it on the MLS and I was able to secure it on the first weekend it was listed.

How did you finance this deal?

Cash & HELOC on personal property.

Lessons learned? Challenges?

I would get more bids for the larger items. I would also do less customizing such as the black stainless steel appliances. People love backyards in Atlanta so putting more money into that goes a long way.

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