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3 beds, 1 bath, and approximately 1,949 square feet, this flipped property sits on 0.26 acres and was built in 1920 in the West End Neighborhood of Atlanta.
Originally, it was listed for $75,300. After an estimated ARV of $250,000, this single-family home in Atlanta, GA sold for $298,000 on Oct 21, 2016, after only one day listing on the market. The investor, Scott H. Williams, President and CEO of Gateway Construction Company, was very pleased with his return!
All of our properties in Atlanta are pre-screened for a high ARV, but sometimes, you make even more. Our properties are so exclusive, that the public doesn’t know about them, and they are available at deeply discounted prices. So it’s easy to buy low, and sell high!
This investment property in Atlanta, Georgia just sold well beyond what was expected, leaving one happy investor! With New Western, you can have access to many more Atlanta investment properties for a profitable ROI.
Take it from the pros: our Q&A session with an Atlanta real estate investor. Scott H. Williams, president and CEO of of Gateway Construction Company is the investor behind this profitable house flip. We asked him about his experience investing in a New Western property. 1) What drew you to this property? Was there something in particular you saw in it that you liked? “I really liked the older homes in the area and this property in particular had a solid structure. I knew that it needed quite a bit of work that needed to be done to it but I saw the potential.
Last, but not least, my New Western Agent, Gordon Tran, educated me on the area and its closeness to the Atlanta Beltline. After doing some brief research I saw that the properties in the area were trending upward very quickly. Turned out to be a great find and investment.” 2) Did you enjoy working with New Western? Why? “I absolutely enjoyed working with New Western and Gordon in particular. I did not feel pressured in any way, I felt that the New Western representatives were honest and not just trying to just get a sale from me. Lastly I really appreciated the research, comps, and sell history that they provide in their project summary information that they send out on each property.” 3) What was the most difficult part of this rehab? “The most difficult part of this rehab was clearly the ‘unknown’. Whenever you have a one-hundred-year-old house and open up the walls or the floor system, you never know what you’re going to find. We had the even out lots of uneven floors, we have to reframe damaged stud walls, roof joist, floor joist, etc. Some of the existing framing was not up to code so we had a lot of extras and surprises that we did not plan for.” 4) What was the best part of this rehab? “Seeing an old non-functioning structure come to life and beautify the community, and, of course, the smile on the new homeowners’ face when they moved in their freshly rehabbed home!” 5) Were you pleased with your ROI? “Yes, this was a very profitable investment. Both financially and networking wise, as many doors were opened by having a presence in the community.” 6) What would you say to other investors who are considering property rehabs of their own? “Find a niche area where you want to be and work it.” 7) What was the total renovation cost? “In the neighborhood of $115,000.00.” 8) What are some of the rehabs and updates you made to the property? “All new roof including re-framing roof joist, rearranging the floor plan to accommodate a four-bedroom and three full bathhouses, re-framing floor joist and subfloor; opening walls to have a huge kitchen with interior columns, vaulted family room, huge master suite with his and hers walk-in closets, all new mechanicals, hardwood floors, designer tile in bathrooms, oversized kids’ bedrooms upstairs, large deck in back of the house, fenced backyard, upgraded trim package, and 10 ft ceilings throughout the house.” 9) What do you foresee to be the next trend, or next “big thing”, for property rehabs or property investment in general? “Actually, I expect more of the same for the next couple of years. It’s a seller’s market due to the low amount of inventory in the market place.” 10) Do you have any predictions for the housing market in Atlanta? Will there be more investors bringing their business to the area, and do you think it is a hot market? “Atlanta is definitely a hot market and will continue to be so due to the number of people moving into the area daily. Housing has to keep up with the demand. I think the trend will continue to be a demand on in-town living due to the Atlanta traffic everyone wants to be closer in town.” This property is the only one we have available for Atlanta real estate investors. Check out our extensive database of off-market investment properties in Atlanta.
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492 Holderness St. SW is in the West End neighborhood in Atlanta, GA. The average price per square foot for homes for sale in West End is $128.
After an estimated ARV of $250,000, this Single-Family Home located at 492 Holderness Street Southwest, Atlanta, GA sold for $298,000 on Oct 21, 2016.
This property sale closed for $298,000, and was only listed for one day. The investor basically pre sold it for $153 per square foot, and only spent around $115,000 for the complete rehab!
This home has all the bells and whistles. A Gorgeous 4 Bedrooms 3 full bathrooms home. Kitchen has 42 inch cabinets and hardwoods, stainless steel appliances, open concept, wood spindles and privacy fence.
Lot: 0.26 acres
Built in 1920
All time views: 915
Heating: Forced air
Market Trend Watch: Atlanta, Georgia.
About Atlanta: For years, Atlanta has been the crown jewel of the Peach State. The city is the state capital and to wit, the city’s old airfield is now the world’s busiest airport. Encompassing $304 billion, the Atlanta metropolitan area is the eighth-largest economy in the country, the 17th-largest in the world, and ranked fourth in the number of Fortune 500 companies in Atlanta.
To invest in Atlanta real estate is to increase inventory supply, and New Western Acquisitions holds the key to this conquest. This unmet demand for housing and a shortage of affordable residential homes has put real estate investors in Atlanta in the perfect place to profit, and New Western, a real estate brokerage firm, is poised to help investors take on the current market, no matter how tremendous and tumultuous it may seem.
By encouraging investments in off-market properties and providing deep discounts, New Western Acquisitions’ goal is to increase investor profit, meet demand for homes, and accommodate consumers who are searching for housing within budget.To provide an adequate supply of updated, affordable homes, the real estate brokerage firm gives real estate investors access to off-market investment properties that can earn a wide profit margin. New Western’s low property prices and exclusive discounts are meant to benefit investors with significant profit when they fix and flip, or fix and rent, their property investment.
Start off on the right foot, and search for Atlanta properties that are perfect for your next real estate investment. Our investment properties in Atlanta have been pre-screened to provide a high ARV, and are deeply discounted: sometimes be more than 50% lower than the market price!
New Western provides investors in Atlanta with exclusive access to off-market properties that aren’t available to the public. Since our properties aren’t even made public on the MLS, you’ll have exclusive access to deep discounts and premium Atlanta real estate before anyone else.
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