Investor Flip in Douglasville

[Kalim Kalla]

Investment Info:

Single-family residence fix & flip investment in Douglasville.

Purchase price: $139,000
Sale price: $259,000

Contributors:
Mitchell Kramer, Christopher Mannella, Stone Bettersworth, Drew Dotson, Damicco Robinson, Adam Polokoff

Slam Dunk Deal in Douglasville, this was a tough deal that we received kick back from investors that the rehab would be too much and the ARV was not supported in the area. We had expected numbers PP: $139,000/Rehab:$48,000/ ARV:$225,000. Our investor ended up spending $52,000 on the rehab and ended up going under contract for $259,000. $34,000 over our expected ARV.

What was the outcome?

Under contract for $34k over expected ARV.

Lessons learned? Challenges?

One of the main challenges we saw on this deal was that buyers were scared off the rehab and did not think that the ARV was accurate on our end. After one buyer backed out and we sold it to another buyer they ended up with a big pay day achieving an ARV 34k over what we expected solely due to new comps and appreciation in the area.