Long Term Rental: Griffin GA

[Zach Scott]

Investment Info:

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

Purchase price: $150,000
Cash invested: $11,000

A Duplex located in East Griffin held as a long term rental. Monthly cashflow after all expenses results in $850

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

The cash on cash return, FHA loan ability, long term wealth, etc

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

Bad MLS listing, poorly listed. Met in person with Agent and negotiated accordingly

How did you finance this deal?

FHA 3.5% down.

How did you add value to the deal?

Rehabbed one side. Complete landscape restructure outdoors both in front and behind the units.

What was the outcome?

Current Long term rental

Lessons learned? Challenges?

Be expected for the unexpected. Experienced snakes in one occupied unit days after property was purchased

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

A close real estate agent and local lender in the Griffin area.