Georgia Case Studies

Georgia is located in the Southeastern region of the United States.  It is the 24th-largest in area, and 8th-most populous of the 50 United States.  Atlanta is both the state’s capital and its largest city.  The Atlanta metropolitan area, with an estimated population of 5.9 million people is the 9th most populous metropolitan area in the United States, and contains about 56% of Georgia’s entire state population.

Quick Stats:

Population:  10.6 million people

Median Household Income:  $56,200

Population Density:  165 people/square mile

Median Home Sales Price:  $206,800

Median Price to Rent:  $1,425/month

On average, home values have gone up about 4.9% over the past year.

Atlanta, Georgia, downtown skyline

Case Study #1:  Atlanta Apartment Building Fix-to-Rent Project



Client:  Ayesha S. – RFG Pro

Property Location:  Atlanta, GA

Property Description:  12-Unit Apartment Building

Purchase Price of the Property:  $850,000

Cost to Rehab Property:  $167,495

Amount of the Loan:  $1,017,495

Original Appraisal Value of Property:  $1,020,000

Appraisal Value of Property After Rehab:  $1,640,000

Monthly Rents Charged After Rehab:  $17,400

Ayesha’s goal was to purchase a multi-unit apartment building, where the rents would more than cover the monthly mortgage, so the investment would pay for itself and provide a small passive income.  After a long search, she purchased a 12-unit apartment building in a great area of Atlanta.  The seller was extremely motivated, and the property had a very reasonable asking price.  The building itself was in good shape, and only required cosmetic upgrades.  Once the upgrades were made, Ayesha was able to double the average rent for each unit, charging an average of $1,500 per month per unit.  Her fix-to-rent advice: “Never underestimate tenants or the process of evicting them.  If you are not an experienced property manger, don’t take it lightly.”  Thanks for the tip, Ayesha!

“RFG is a great lender.  The whole process is so smooth.  No complaints!”

— Ayesha S.