All Forum Posts by: Chad Carrodus

Also...could buy a boat slip and catamaran. Can't speak to it. Just a pipedream of mine :) 

Ft. Myers! Sanibel is too expensive to see great returns. Love it though.

It sounds like you want low-stress, preservation of capital that generates monthly income. That's great. I would use the $100K as leverage to buy something turnkey with management and rental history in place. If not, investing in syndication as an LP is a great option. I would also encourage you to look into private lending. 

Yes, in GA you have to hang your license somewhere and it sounds like you already have a plan in place. Represent yourself if you see yourself doing this long term especially if you have a broker willing to hold your hand. 

As far as where to live, that's what I always love about Atlanta. No one lives in Atlanta. What is your budget? You will only become more doomed. Best time to buy RE was yesterday. 

What is your budget? That will determine where to buy smart. Also...you say you want to invest. Are you investing your own capital? What strategy are you planning to use? 

 I would welcome and embrace that. 

@David Greene

 Season 6 has already been filmed at the house. If I had to guess, I would say 10 Season run.

 Know your audience! I love this. All depends on who you are appealing to.

Investment Info:

Single-family residence buy & hold investment in Marietta.

Purchase price: $2,400,000
Cash invested: $300,000

The "Cobra Kai Mansion" from Netflix's world hit Cobra Kai.

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

The rise of experience based Airbnb's, the growth of Metro Atlanta, and the property itself. The History dates far back beyond the filming and income produced from Cobra Kai, serving as Daniel LaRusso's home and appearing in dozens of episodes throughout the seasons.

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

I was the listing agent then after seeing the global reaction to the listing and the interest from massive publications, I decided to approach the sellers with an offer.

How did you finance this deal?

I syndicated a fund and negotiated a seller second.

How did you add value to the deal?

1) Deferred maintenance
2) Professional design, landscaping, and misc. upgrades
3) Built a functional guard house and gated the property to complete enclosure
4) Income based valuation vs. comps

What was the outcome?

Amazing! Google Cobra Kai Mansion!

Lessons learned? Challenges?

Too many to type. Happy to discuss the story on a BP Podcast :)

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

I was the agent on both sides. I worked with a securities attorney for the syndication and closing attorneys for the creative closing.

ITP - Westside 

OTP - Acworth, Canton, Marietta, Kennesaw 

What would stop you from simply managing the STR yourself? I would encourage you to compare the numbers. Evolve is a STR management company that charges 10% and they pretty much do everything.