Updated over 5 years ago on . Most recent reply
Stone Mountain (Atlanta, GA) Buy & Hold Townhome
Investment Info:
Single-family residence buy & hold investment in Stone Mountain.
Purchase price: $64,000
Cash invested: $25,000
My first investment property! JV with a family member.
How did you find this deal and how did you negotiate it?
Purchased through a property manager/realtor. They negotiated on our behalf.
How did you finance this deal?
Conventional loan.
How did you add value to the deal?
Put $6k in rehab into the property. Painted the kitchen cabinets, switched out hardware, updated the flooring.
Lessons learned? Challenges?
With the right property manager/realtor combo, this has been an almost hands-off experience. We've learned some lessons about HOA dues, taxes, insurance, having enough money for unexpected expenses like a plumbing issue.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes.
Most Popular Reply
That's a very nice looking property. My first investment property is in Stone Mountain as well, surprised to see a brick house in Stone Mountain. Congratulations. What area of Stone Mountain is it? that sounds like a GREAT price.