Historic West end Opportunity
I have an opportunity in historic west end. House is just under 1,400 SF and is already a 3/2. Needs some cosmetic updating that could be done nicely for 60-65k. Price is 165k. House is about two blocks from the beltline. Think ARV can be north of 300k?
Sounds like a great deal. Comps are definitely in the 300's and some over 400K. But it also depends on where exactly. There are differences between blocks and type of house and whether it's proper West End or Oakland City or one of the other neighborhoods, that are easily lumped in with West End.
@Timothy Greene You should post deals you (your firm) are marketing in "Marketplace" rather than asking thinly veiled questions in the forums.
The answer is NO you cannot get $300k+ in Oakland City. Nobody has because Oakland City is still full of vacant houses and is not nearly as desirable as Historic West End.
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Developer
- GaREIA
I’ve been trolling this site and reading your commentary regarding West End. I especially liked your comments regarding the difference between being a homeowner and investor. That is exactly where I got stuck when looked at Grant Park and Cabbagetown a few years ago when it was cheap - because I would not have wanted to live there, I didn’t invest. Obviously, a big mistake that I don’t want to repeat!! You seem extremely knowledgeable about real estate investing and I’m interested in your insights as I am looking for my first real estate investment as a non-homeowner. I have about $300,000 to invest and would like to buy something and rent it out for a few years I am ultimately looking for appreciation but I’m willing to wait a few years. While I don’t mind doing a minor renovation, I don’t think I have the time or knowledge to do a big renovation unless I have a good partner with this knowledge. Any suggestions on specific areas based on my criteria ( rentable and future appreciation)? How did you find your properties? Are you an agent or do you use an agent? If I purchase a renovated house in one of these areas, do you think there’s still some good upward potential? Any advice would be great. Thanks!!