Come See Stephen & Lena Jones’s Newly Finished Rehab!

Please join us on Tuesday, December 15th at NOON for the Atlanta REIA Onsite Renovation Group (ORG) to learn all about finding, funding, fixing and flipping houses (or holding) for big profits right here in the metro Atlanta area.

This month’s Onsite Renovation Group meeting will be held at Stephen & Lena Jones’s newly newly renovated home located at 2320 Shasta Way NE, Atlanta, GA. Here is a little bit of information about the project that Stephen sent us…

“2320 Shasta Way is located in a quiet neighborhood in a section of unincorporated Dekalb running parallel to I-85 and Briarcliff Road near Lakeside High School. Like many houses in the neighborhood, the property is a ranch-style, four-sided brick home on a full basement, with a large, flat lot. The owners of the house kept the houses up very well, but had never updated it in any meaningful way, and sold it because they lived too far away to manage it as a rental. In June we purchased the house for $285,000 and it had three bedrooms, two baths plus a full bath in the basement.

We recognized from day one that the house was going to be very challenging due to the basement stairway being located between the den, living room and kitchen; and furthermore, the house footprint was very small, at around 1600 square feet. Lena and I realized that we would have to choose between having three bedrooms on the main level or having a large master suite. We also had to decide whether it was worth the money moving the stairway. To achieve an ARV over $550k we would need to make sure the house had four bedrooms, three baths.

Lena and I decided to keep the stairway where it was, but continue to open up the layout by spanning the main structural wall over the stairway and adjusting the kitchen to work around the obstruction. Knowing that a large portion of the buyer pool in the area consists of empty-nesters, and further that the house was a walk-in ranch, we decided to sacrifice a bedroom upstairs in order to deliver a large master bathroom and walk-in-closet. We framed in two bedrooms in the basement and replaced all systems and mechanicals in addition to 90% of the drywall in the house. Lastly, the 28-foot long carport was easy to convert into a garage with enough space left over for a large storage closet and mudroom. The house is currently under contract for $632,000 though we built the deal around a planned ARV of $550,000. The renovation, which was self-managed, cost $145,000.”

It’s been a full year this month since we saw one of Stephen & Lena’s rehabs, so please RSVP NOW and come join at Onsite for this rare opportunity to see one of their Gorgeous Rehabs!

The Atlanta REIA Onsite Renovation Group (ORG) is an educational and networking group led by Dustin Griffin and Don DeRosa that focuses on the acquisition, renovation and retail resale (fix and flip) of single family residential homes. The purpose of the group is to allow both new and experienced rehabbers and investors to meet, network and share knowledge and experience with “hands on” access to real property.

• Wholesalers, bring your deals! We could be your next buyer!

• Lenders, bring your money! We could be your next borrower!

• Agents, Contractors and Other Real Estate Pros, come join us! We could be your next client!

The Onsite Renovation Group meets TWICE A MONTH on the 1st and 3rd Tuesday each month at NOON at an active renovation site, build site or rental property which will vary from month to month. As always, there is no charge for Atlanta REIA members to attend. Guests & Non-Members can RSVP Online for Only $15 or pay $20 at the door. Come join us and RSVP Now!