We are rocking and rolling this year in Real Estate Investing!
According to the AJC, where I am located in Atlanta currently, the housing inventory is at a record low, and houses are being bought in no time. In Atlanta, home prices are up 9.8% compared to 2020 and 36.5% of homes have sold above list price which is 88% higher than last year.
Despite this super-tight market, we are still able to find deals under market, not even listed! We are under contract for 2 more properties that we plan to keep as long-term rentals that are scheduled to close at the end of this month! Both homes already have tenants in place that have been in the homes for a number of years so we will have instant cash flow on these properties. I’ll be sharing more of our journey with purchasing turnkey rentals later this year.
#MagnoliaHouse is under contract! The recent flip project we did with our friend went under contract around 2 weeks after being listed and has appraised for the full asking price and is scheduled to close in the next week and a half! I’m super proud of this project and excited to bring another Homeowner to my community.
Our newest duplex that I spoke about in my last newsletter is moving along nicely and it will have a beautiful ending when all is said and done. We just received the approval for a new voucher tenant that is actually an employee of our landscaping company that is set to move in a couple of weeks! We are super grateful to have the opportunity to provide jobs and affordable housing to our community in a real way. We are finishing up the kitchen and floors on the other side and it will be ready for a tenant next!
Last but not least I know you are looking forward to a cabin update!
I am working diligently to get this baby finished by the end of June! I just have a few more decor pieces to add inside and next is replacing the roof and finishing the exterior landscaping. We plan to replace the wood shingle with a silver metal roof! I’m super excited about the metal roof, I think it will complement the black exterior very well. With the exterior landscaping, I envision adding a perimeter of large cypress trees around the western side of our property that faces the main road to create more privacy for us while adding a long gravel driveway that feeds into a fire pit area plus outdoor dining space. Also because a good part of our 2 acres are wooden the boys and I have found a place that we can add an additional fire pit or natural campsite in the woods. I would love for us to create a natural path that leads to that area to create a mini hiking experience on our property!
I am super pleased with our decor choices so far. We’ve been traveling the North Georgia area for 10 years since being in Atlanta and not one time have we seen items in any Cabins that represent us and our culture. We are intentional with our artwork, our coffee table books, and even the records that we will have available for our guests to enjoy.
I’m most proud of the ancestry wall that we created featuring some of our actual ancestors and other notable African Americans that are often not given credit for the contributions that they have made to this country.
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