BRRRR in Mableton - Atlanta

[Kent Lyons]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $155,000
Cash invested: $50,000

This one has been a long journey. I found it on the MLS but there was no viewing until an accepted offer since it was occupied by a tenant. I got it under contract in Sept 2020, but the tenant needed 60 days notice, so we pushed out closing for 60 days. 60 days comes and goes and the tenant still isn't out. Two extensions later and I finally close. It took another 6 weeks to get the contractor out there and started in earnest on a rather extensive remodel in the beginning of Feb. Remodel should be done beginning of April to be rented out then. After that will do a cash out refi - should be a pretty good BRRRR.