GA REIA June 2015 Success Story
A.C. Cooley
A.C. Cooley spent 20 years in corporate America as a computer programmer
before becoming a full-time real estate investor in order to spend more time with
his family, volunteer at his church, and live out his vision for his life. His business
model, which led to this month’s success story deal, includes buying and selling
investment properties and working with motivated homeowners who may be
unable to afford payments or maintenance on their properties, may be tired of
landlording, or may even have just inherited a house that they don’t want. “I
don’t just look at myself as a real estate investor,” A.C. says. “I am a real estate
problem-solver for homeowners.”
A.C. certainly did a nice job of problem-solving for the owner of 792 Livingstone
Place in Decatur (not to mention himself and another investor)! The twobedroom, one-bath property that was built in 1947 was purchased for $127,000
and sold in just days to another investor. “It was a great opportunity for an
investor who does rehabs,” A.C. explained, noting that the property will be worth
somewhere between $215,000 and $330,000 after it is repaired and renovated.
He noted that most investors who buy to rehab in this area add square footage to
properties like 792 Livingstone, and predicted that his buyer will do the same.
After closing costs and transactional funding, A.C. netted $8,496.21 on this deal.
Just three weeks later, A.C.’s buyer was able to sell the property again to another
investor, this time at $167,000. The sharp uptick in price was likely due to a
neighboring property selling after A.C.’s closing for $496,000. A.C. does aggressive
direct mail campaigns to find his properties and used Angel Oak Funding for
transactional funds in this deal.
A.C. can be reached at 404-419-6780 or by email at [email protected].