#HouseoftheWeek in Atlanta, GA
Original story here: http://www.colonyamericanfinance.com/houseoftheweek-in-atlanta-georgia/#.VtiVnqk9_io.facebook
Project Story
While this week’s #houseoftheweek is in Atlanta, Georgia, Bruce McNeilage , our client, lives in Brentwood, Tennessee. Bruce brings more than 25 years of real estate investment experience and, in the past 12 years, he has invested in more than 450 properties and sold more than 150 properties throughout Georgia, Florida and Tennessee.
Bruce specializes in boosting occupancy rates and lowering operating costs by renovating and managing apartment complexes and large portfolio single family assets. His time-tested techniques have created immediate positive cash flow and long-term growth in value. Bruce consistently delivers 15 to 20 percent returns annually for his investors.
Bruce told us they were lucky to acquire the Stanton Road home in the neighborhood, Village of East Point. They wanted to deliver a very high-end product so they added stainless steel appliances, wood floors, new paint and carpet. The house they purchased also came with a great master bedroom, fireplace, welcoming front porch and two car garage. The home sold in July of 2015 for $97,000 and is being rented for $1,350 per month.
Rehabbing homes has its risks. “I would also say whenever we buy these houses they’ve usually been vacant for a long time and the power is not on and the waters is not on when we inspect them so we never know what to expect when we turn the utilities on,” commented McNeilage.
He also mentioned painting walls that are 20 feet tall and working with that much wood on the floors were additional challenges.
As for the financing, Bruce noted, “The BPO came back much higher than we expected after the renovations so we were pleasantly surprised with our loan amount with Colony American Finance. Working with CAF gave us maximum flexibility to acquire high quality assets like this house quickly and their closing is a breeze.”
Bruce is a national speaker and guest lecturer on the topic of single family build to rent housing. If you’re interested, you can find out more about Brice on his LinkedIn profile.
Colony American Finance specializes in helping real estate investors like Bruce finance properties based on their investment strategy. Call us on 844-223-2231 to find out more.
#Buyandhold #fixandflip #CAF #colonyamericanfinance #HOTW #houseoftheweek #sfrinvestor #sfrloans #developer
Property Address
1926 Stanton Road
Atlanta, Georgia 30344
Property Website
