Major Rehab/East Lake In Atlanta, GA/Big Profit To Be Made

[Peach State Property Buyers]

2,200 Sq. Ft. Large Victorian East Lake House
$137,999
379 Morgan Place
Atlanta, GA 30317
Lockbox Code 1970
Completely Gutted
7,506 Square Foot Lot With Driveway Easement In Rear of Home
Hardwood Flooring, Large Front Porch, 3 Fireplaces Off Of 1 Chimney, Two Stories
Professionally Drawn Renovation Plans By Local Urban Design Award Winner
Located Just Blocks From East Lake Golf and Country Club

Purchase Price: $137,999
Rehab: $80,000
ARV: $375,000
PROFIT: $157,000
Rehab estimate takes into account a top of the line renovation including granite countertops, crown, crush and run driveway, custom ceramic tile, etc. You could do a less expensive renovation, if desired.
The after repair value was derived from a market analysis done by a local realtor using comps less than 6 months old with less than 60 days on market.
CALL 770-947-5560 TO INQUIRE.
Please specify East Lake property when calling.
Comps:
East Lake Estates 2964 Alston Drive Se Atlanta 30317 07/15/2003 Lake Park 96 Lakeview Drive Atlanta 30317 01/30/2006 $330,000 (R)
East Lake Park 65 Rockyford Road Atlanta 30317 01/10/2006 $464,200 (N)
East Lake 485 Rosemont Drive Atlanta 30317 12/01/2005 $423,000 (R)
East Lake Manor 2738 Tupelo St. Se Atlanta 30317 11/22/2005 $470,000 (R)
East Lake Heights 133 Carter Ave. S.E. Atlanta 30317 10/04/2005 $345,246
East Lake Terrace 2395 Glenwood Ave. S.E. Atlanta 30317 09/21/2005 $400,000 (R)
East Lake Park 87 Lakeview Drive Atlanta 30317 08/05/2005 $550,000 (R)
East Lake Estates 2871 Alexa Ave. Se Atlanta 30317 05/13/2005 $319,500 (N)
East Lake Estates 327 Morgan Place Se Atlanta 30317 04/28/2005 $365,000 (R)
East Lake 61 Rockyford Road Atlanta 30317 04/25/2005 $315,000 (R)
East Lake 2535 Glenwood Ave. Se Atlanta 30317 02/02/2005 $390,000 (R)
East Lake Estate 410 Hooper St. Se Atlanta 30317 02/01/2005 $301,000 (R)
east Lake 2787 Glenwood Ave. Se Atlanta 30317 09/13/2004 $379,000 (N)
East Lake 87 Lakeview Drive Atlanta 30317 08/25/2004 $435,800 (R)
East Lake 60 Lakeview Drive Atlanta 30317 08/09/2004 $339,000 (N)
east Lake 2775 Glenwood Ave. Se Atlanta 30317 08/06/2004 $389,000 (R)
East Lake Heights 2555 Hosea L Williams Drive Se Atlanta 30317 08/04/2004 $330,000 (R)
East Lake Terrace 111 Watson Circle Se Atlanta 30317 07/07/2004 $337,000 (R)
East Lake Manor 2746 Arbor Ave. Se Atlanta 30317 07/07/2004 $310,500 (R)
East Lake 2681 Arbor Ave. Se Atlanta 30317 06/30/2004 $310,000 (R)
East Lake Terrace 2957 Glenwood Ave. Se Atlanta 30317 05/04/2004 $375,000 (R)
east Lake 2682 Colgan Court Se Atlanta 30317 04/29/2004 $300,600 (N)
East Lake 247 Oakridge Ave. Se Atlanta 30317 02/12/2004 $410,000 (R)

[Dan Auito]

WAY TOOOO GO GIRL! That's a fair offer for the folks here. O'K all you rehabbing fools, get to work!:whip:

[Peach State Property Buyers]

Back on market. Buyer flaked.

[shawnquick]

Angela,
Sorry to hear that your buyer flaked, would have been nice if you could have offerd them another option to purchase this home. When buyers can't get traditional lending, and when they can't afford hard money loans, refer them to us. Angela we have a wonderful program that helps sellers sell their property (or properties in your case ) fast and for top dollar. We have a FREE Home Sellers Kit I would like you to have that explains our program in detail. We charge no real estate fees whatsoever. This kit is at no obligation to us.
We can also avoid title seasoning problems for the rehabber as well. We buy mortgage notes and we also create seller finance notes. The seller has the option to carry the note or sell the note at closing to our investors and get the cash they need (in your case). Wish you would visit my website at:
www.yourezsale.com/quick

Sincerely,
Shawn Quick/Easy Private Mortgage
410-671-4569

[Judd]

Edited

[Peach State Property Buyers]

Um, Judd, I am going to try to not be offended. We OWNED the house. You might want to look at the neighborhood a bit more before making a snap judgement. Houses are selling in East Lake for up to $750K. These are RESALES. The houses in this neighborhood are averaging 33 days on market and 98.7% of asking price. Can't say this for most places...

[Debbie]

Angela = :SM101:

Judd = :oops:

Me = :shocking:

Resolution = :SM072:

The end

[Peach State Property Buyers]

Thanks for the laugh, Debbie! It's okay, though... I like Judd. :)

[Peach State Property Buyers]

Even if he doesn't see the goldmine in the formerly ghetto neighborhoods in Atlanta. ;)

[Judd]

Edited

[Debbie]

Judd = :SM025:

Angela = :SM076:

Me = :11doh:

Resolution = :SM135:

The end

[Peach State Property Buyers]

What wholesaler? Probably one of the birddogs who send out good deals to everyone that they know...

[Peach State Property Buyers]

The rehab that the investor that bought it is doing is going to be amazing! Were they beginning work already? I noticed that you mentioned the contractor at the job...

[Judd]

Edited

[Peach State Property Buyers]

We have an enormous rehab going on right now that we will profit well into the 6 figures on. Thus, our focus is on that and we don't want any other big projects until this one is done.