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

The structure was in great shape but needed cosmetic upgrades and some reconfiguring of the interior. Also, both the basement and backyard couldn't be accessed from inside the house. The layout was boxy so we opened up 2 walls to create an open concept and added French doors to the dining area to provide backyard access. We opened up a closet floor to install steps so the basement could be accessed from the main part of the house and moved the laundry connections to the basement. Great home!

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.