SFR Fix & Flip in the City of Atlanta

[Scott Stayvas]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $97,000
Cash invested: $50,000
Sale price: $200,000

SFR flip in the City of Atlanta. The house has a solid brick exterior and a good foundation but needed a cosmetic upgrade with some reconfiguring of the interior. Also, both the basement and backyard could not be accessed from inside the house. The layout was a bit boxy so we opened up a few walls to create an open concept living space and added French doors to the dining area to provide backyard access. We opened up a closet floor and removed its door to install steps so the basement could be accessed from the main part of the house. We also moved the laundry to the basement. Great starter home price point in the City of Atlanta.

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

The home is in a growing area of Atlanta at time time of purchase in 2019.

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

The home was listed on the MLS.

How did you add value to the deal?

Took down two walls to remove the "boxy" feel to the home and create an open concept living space. Also, both the backyard and basement were could not be accessed from the main part of the home so we installed French doors in the dining room and opened up a closet floor to provide basement access from inside the house.

Lessons learned? Challenges?

In hindsight, I probably should have rented the house and held it for a few years through the boom of the early 2020s.

[Nicholas LaGatta]

Quote from @Josh Bowser:

That's a good little deal scott! Are you still flipping in this market? Things are getting tough on the resale side in the ATL

 I'm still flipping.  It's kind of discouraging to hit my budget numbers and timeline, while watching the value of comps tank by tens of thousands and DOM increase by dozens of days, but this is the life we chose.