East Point Buy and Hold

[Evan Parker]

Investment Info:

Single-family residence buy & hold investment in East Point.

Purchase price: $197,000
Cash invested: $21,000

Recently purchased my first property which is a new construction 2-story 1887 sq ft 3/2.5. The intention will be to occupy the property shortly after building completes and rent the property out for cash flow.

The East Point area is what I consider to be somewhat of an overlooked gem, but that paradigm is shifting with city development inching more from the west to south west.

(Images shown are of completed homes in the same subdivision and represent finishings, style, and floor plan)

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

I became interested in this deal after months of driving and learning areas within the perimeter and understanding the path of city development that I see forming. I really like the look and feel of the East Point area and I believe in the value that currently exists.

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

I found this deal by looking at a lot of online listings, I found out about this new subdivision before the builder ever broke ground. There was not much negotiation required, but I was able to take advantage of a few early adopter builder incentives like "free" upgrades to finishings, applicances, etc.

How did you finance this deal?

Traditional financing

What was the outcome?

The outcome will be a cash flowing rental, I'm projecting numbers between $254 - 497/month after all expenses

Lessons learned? Challenges?

Lesson learned for me is that when dealing with people that are not familiar with real estate investing or investors that you must be extra diligent and steadfast with your intentions. When approaching a property from an investment mindset, certain things are less important to you that are top priority for the agents, and vice versa. If you do not voice yourself, let your intentions be known, and lead the way in your goals, you will create a ton of room for things to not go your way.