Real estate investment is not without its challenges, and every project offers valuable lessons. In this case study, we’ll delve into the Forty15 property in Atlanta, Georgia, highlighting the key points, challenges faced, outcome of the project, and important lessons learned.

Key Points:

• Class C property in Atlanta, Georgia, acquired in 2017.
• Strong underwriting and projected rents, including existing rents already achieving performer renovated levels.
• Retaining the experienced property manager who had previously worked with the team.
• Located in an area showing signs of progress and development.

Challenges Faced:

• The property experienced two significant fires, one prior to acquisition and another during ownership, requiring insurance claims and navigating the complex process.
• Dealing with a lender who had strict loan requirements, hindering certain strategic options and decision-making.
• The property’s neglected condition and ineffective management posed challenges in improving occupancy rates and overall performance.

Outcome of the Project:

Despite the challenges encountered, the Forty15 property yielded exceptional results, achieving a 30+% internal rate of return (IRR) and providing substantial returns to investors. The property’s location in an area of progress contributed to its success.

Are you ready to explore real estate investment opportunities and gain insights from experienced professionals? Contact us today to discuss your investment goals and learn how our expertise can help you navigate the complexities of the real estate market. Together, we can overcome challenges and achieve exceptional returns on your investment. Reach out to us at sarah@hyleecapital.com or visit our website to get started.