New Flip I bought today!

10 Replies

Bought this today in Atlanta in an area called "The Old Fourth Ward"

Purchase at $230k

Rehab $120k

Sales $500k

This is our 4th house in the last 30 days!!

Andrew

How did you pick this place up? Looks great, wish I could find a deal like that!

congrats

flip or rental?

holding cost

all cash deal ?

how was the property inquired?

Awesome! Great numbers!

@Andrew Cordle Looks like it has nice profit potential! Are you thinking about contacting the owner of the house to the right of it? Looks like it could use some help as well lol. Good Luck!

Hey Everyone,

Thanks for the kinds words. I bought it off the market from a wholeseller.

I actually bid on the house to the right but lost out to another rehabber who is doing that house as well. The other houses I got this week were.

Purchase 75k

Rehab 40k

Sale 175k

Purchase 103k

Rehab 100k

Sales 320k

Then this one above here as well. Last week I bought one for

Purchase 103k

Rehab/Build 170k

Sales 400k

I will try to get some pics up soon.

Andrew

Hi @Andrew Cordle

Congrats on the house..I was actually one the first person to put a full asking 185k price (Angier Ave) offer even before it was officially listed on MLS then the sellers requested highest and best offer and I went all they way to 200k and finally lost the deal to a wholesaler.

Numbers are looking strong and you will have no problem selling it. The house has a lot of character, great location and high ceilings. Would love to see what you do with the house. Please do post some before and after pics. I have a MF very close to the Angier Ave and know the area pretty well from rental and sales standpoint.

Good Luck. Wish you continued success

Nice buy. Should turn out nice. Personally I think it's insane to spend $500k in Old Fourth Ward, but I hope you get it.

Old Fourth Ward is the next Virginia Highland of Atlanta. With the Beltline path open and soon to open Krog Street Market and nearby Ponce City Market the $500k will be a bargain in 5 years. Great deal. I looked at a house for myself in that area before things really began to change about 15 years for around $150k in fairly good condition, but didn't want to be an Urban pioneer. Hindsight is 20/20

it looks like your niche is doing rehabs with hi rennovation/repair cost or does not come from the finishing you are putting in to them. I would like to see some of your completed work. Before and after pics.

@Account Closed Thanks for the input. I do think 500k will be on the higher side but it is so close to the Ponce City and as you know after this house and the house right beside this one which will be starting up as well with a major rehab. After these two houses there is only one house on this street/block that needs to be rehabbed I believe.

@Kevin Polite

@Manny Cirino

Thanks guys I will keep you posted as we move on these houses. As far as my niche I for sure like the higher end flips but I have done 100's of houses that are all in for around 100k or so. Even as of right now I probably have about 20 of those going on as we speak. I will keep you posted on the pics as we get them.

Andrew

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