All Forum Posts by: Scott Stayvas

Hey Josh....yeah that's right I can't find like this anymore in town, need to look elsewhere.

Thank you!  Yes that one came out very nice.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $97,000
Cash invested: $50,000
Sale price: $200,000

The structure was in great shape but needed cosmetic upgrades and some reconfiguring of the interior. Also, both the basement and backyard couldn't be accessed from inside the house. The layout was boxy so we opened up 2 walls to create an open concept and added French doors to the dining area to provide backyard access. We opened up a closet floor to install steps so the basement could be accessed from the main part of the house and moved the laundry connections to the basement. Great home!

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

The home is in a growing area of Atlanta at time time of purchase in 2019.

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

The home was listed on the MLS.

How did you add value to the deal?

Took down two walls to remove the "boxy" feel to the home and create an open concept living space. Also, both the backyard and basement were could not be accessed from the main part of the home so we installed French doors in the dining room and opened up a closet floor to provide basement access from inside the house.

Lessons learned? Challenges?

In hindsight, I probably should have rented the house and held it for a few years through the boom of the early 2020s.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $97,000
Cash invested: $50,000
Sale price: $200,000

SFR flip in the City of Atlanta. The house has a solid brick exterior and a good foundation but needed a cosmetic upgrade with some reconfiguring of the interior. Also, both the basement and backyard could not be accessed from inside the house. The layout was a bit boxy so we opened up a few walls to create an open concept living space and added French doors to the dining area to provide backyard access. We opened up a closet floor and removed its door to install steps so the basement could be accessed from the main part of the house. We also moved the laundry to the basement. Great starter home price point in the City of Atlanta.

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

The home is in a growing area of Atlanta at time time of purchase in 2019.

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

The home was listed on the MLS.

How did you add value to the deal?

Took down two walls to remove the "boxy" feel to the home and create an open concept living space. Also, both the backyard and basement were could not be accessed from the main part of the home so we installed French doors in the dining room and opened up a closet floor to provide basement access from inside the house.

Lessons learned? Challenges?

In hindsight, I probably should have rented the house and held it for a few years through the boom of the early 2020s.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $107,000
Cash invested: $80,000
Sale price: $280,000

Sourced an off market fix & flip deal in the western suburbs of Atlanta near an area where I knew an Amazon facility was being constructed and buyer demand would pick up. The area seemed to really gain appreciation in the middle of rehab and boosted an ROI that was already projected to be strong. Renovations were mostly cosmetic but included a new roof, windows, siding, front and back porch and patio, new flooring, paint, kitchen, bathrooms, fixtures. Minor termite remediation as well.

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

I knew that the property would be easy to sell to another investor or owner occupant, as it was affordable and a 3BR/2BA of 1,650SF so it checks the boxes for many prospective buyers. Also the Amazon facility that was under construction at that time in the County was drawing new residents.

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

The property was an off market sale, sourced through a local Realtor contact of mine.

Investment Info:

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

Purchase price: $747,500
Cash invested: $130,000

Back in 2021 I jumped on a duplex that has 4BR/3BA on each side and is walkable to The BeltLine (an area popular with ATL's younger community). I immediately recognized that the listing agent/property manager had the current rent well below market & the asking price massively wrong. One unit was vacant at the time of purchase, so I was able to execute a House Hack followed up with some light rehab and eventually lease up the property.

How did you add value to the deal?

The property was dirty and needed a few updates to attract renters. I ended up putting in $20k for light cosmetic repairs, which then allowed me to bring rents up to market.

What was the outcome?

The property now cash flows $4,550/mo after all bills are paid. All utilities are split and are paid individually by the tenants.