Quad by Grant Park in Atlanta

[Benjamin Arritt]

Investment Info:

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

Purchase price: $815,000
Cash invested: $180,000

Downpayment money came from selling my house after I got married. My old house was barely breaking even as a STR and would have done worse as a long term rental, so we dumped it for this quad. It's located near Grant Park.

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

Inexperience, bath math and poor decision making skills. If you make enough mistakes in Excel, you can afford anything! (or so the spreadsheet will tell you)

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

MLS

How did you finance this deal?

House hacking. Stuffing a family of 4 in a 2BD/1BA unit = a bad idea.

How did you add value to the deal?

Spent too much on rehab

What was the outcome?

We make a little money but invested far too much to get there.

Lessons learned? Challenges?

Find better investment opportunities or suffer the consequences.

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

My wife is one of the highest producing real estate agents at Sotheby's (Atlanta Fine Homes) here in Atlanta: Amanda Nichols