Morgan House

MORGAN

MACON, GA

UPDATED 11/27/2024

This 3-bedroom, 2-bathroom single-family home, located in a predominantly low-income neighborhood in Macon, was acquired in October 2021. The purchase was funded through personal loans, which were later refinanced into a portfolio loan in February 2022. At the time of acquisition, the property was tenant-occupied, generating $650 in monthly rent. Renovations were postponed until 2023, after which the property was rented to the existing tenant for $1,000 per month. Updates included interior cosmetic repairs and a roof replacement, though several capital improvements are still needed and will be completed gradually.

In 2022, the property appraised at $38,000 in its as-is condition. By November 2024, following renovations, its value had increased significantly to $111,000. This allowed for a second refinance through a DSCR portfolio loan, fully recapturing the initial cash investment and generating additional returns. The property is now delivering infinite returns, highlighting the success of this investment strategy.