🏡 🌟 Rehabbed Rentals in Georgia

[Casey Devaux]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $269,000
Cash invested: $50,000

Buy & Hold Rental in Peachtree City, Ga. Purchased under market value, rehabbed Kitchen, Bathrooms, Interior finishes (flooring, paint, windows) and Landscaping. Current rented with less than 5% vacancy annually for over 3 years.

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

I knew I wanted to try out House Hacking! I did a lot of research and rather than purchasing a higher priced home nearby I opted to buy this home which needed some rehab at the time of purchase. I purchased knowing that this would eventually be something I wanted to rent out.

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

MLS

How did you finance this deal?

Conventional loan - this was a house hack so I purchased as a primary residence and then rehabbed it while living in the property with 2 kids during COVID 🏗️👨‍👩‍👧‍👦🔨🚧

How did you add value to the deal?

I redesigned the home myself, selcting all finsihes. I installed new floors and painted, and worked with my husband and a contractor to install new windows, rehab bathrooms, and build a deck.

What was the outcome?

🌟SUCCESS🌟 After roughly 18 months living in the home we were able to find our next property. We have been able to hold the home as a rental property since and are loving both the cash flow and appreciation.

Lessons learned? Challenges?

This was my first time managing a rental so I had the opportunity to learn tools such as Stessa, Rent Redi, Short Term Rental Management and Mid-Term Rental management.