Freedom adds 118 units to Decatur portfolio
Freedom Family Office purchased Langley Place in Decatur, Georgia, a 118-unit community for $8,850,000 or $75,000 per unit. This brings Freedom’s total assets in the metro Atlanta submarkets to over 1,000 doors.
Our operating partner, Sureste, currently manages six properties in Decatur and 11 properties in the metro Atlanta area (Dekalb and Fulton counties). Two of their properties of similar style and construction were recently appraised at nearly $100,000 per unit, giving us confidence we have upside potential in this acquisition.
Freedom’s Investment Strategy
Our goal is to complete a cash-out refinancing within 24 months of acquisition to get most of our initial equity back, continue to own the asset, and produce consistent income from the investment. We have discussed this model in our book “How My Family Gets Infinite Returns Investing in Apartments.”
Freedom also focused on one of the most under-appreciated benefits of multi-family investing – the tax implications. In our deals, investors receive a K-1 that reports up to 100% of their investment as a tax loss resulting from depreciation in the year of acquisition. Investors that had rental income or sold property for a profit would offset that income with this loss and avoid taxes.
Freedom focuses on acquiring workforce housing constructed in the 1970s and 1980s in growth markets. We partner with expert asset managers and property managers, which enables Freedom to focus on capital raising and investor communication.
To learn more about passive investing in real estate visit us at www.InvestWithOurFamily.com.
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