180 Sycamore Lane Athens Ga.

[Georgui Kasaev]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $45,000
Cash invested: $40,000

We purchased it with the intent to fix and flip it. However, after running our numbers post-rehab we realized that holding the property made a lot more sense. The monthly cash flow is blanked because it is currently up for rent.

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

The numbers made sense.

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

We found it through networking, negotiation took about a month the owner wanted 55k for it we were able to pick it up for 45k and it can with a detached garage. The only one that does on the entire block.

How did you finance this deal?

Private money.

How did you add value to the deal?

1. Fixed the collapsed subflooring in the bathrooms both sides.
2. Added dishwasher by installing smaller water heaters and moving them in the bathroom out of the kitchen.
3. Installed brand new energy saving vinyl windows.
4. Removed all wall heater units.
5. Installed 2 HVAC systems.
6. New flooring.
7. New Roof over the detached garage.
8. New Vinal windows in the garage.
9. split the garage down the middle to create apartment specific storage unit, with separate secured entrances.

What was the outcome?

We had some ups and downs, however, we were able to stick to the budget and get the project flipped in six weeks.

Lessons learned? Challenges?

Make sure you sign as much paperwork with contractors as possible. There were many times when the contractor attempted to change the SOW (scope of work) in the middle of the project and charge us more. However, we were able to go back to the documents and get the project back on track.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

My name is Georgui Kassaev and I am a Realtor in Athens Ga. I would totally recommend me.