Buckhead mansion on a budget

Mansions in Buckhead have become big news in recent years.

Remember the $2.2 million Buckhead mansion that

Or the Buckhead mansion called “Rossdhu” that sold for $6.3 million a month later? That was half the asking price, but it was still the priciest residential sale in the city since 2011. There were a few other price reductions on Buckhead mansions in 2014, but lately the market seems to be taking a turn.

Related: 5 Georgia Homes to buy if you win the Powerball jackpot

Tyler Perry’s $25 million mansion on Paces Ferry Road has been on the market since the summer.

That multi-million dollar price tag must have been a little more than Dexter King wanted to spend. The son of

Related: The Glen and Danielle Rollins saga: A marriage, a mansion, a mess

Georgia has one of the highest concentrations of large homes under $1 million, according to data analyzed by Trulia,  but if that still doesn’t bring a Buckhead mansion into your price range, here’s one more option.

While it won’t quite get you a mansion, you can get a piece of the real estate action by investing in a luxury home through crowdfunding.

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Image: Patch of Land

Right now on Patch of Land, a peer-to-peer lending marketplace that launched in 2014, you can get in on the purchase and renovation of a Buckhead mansion for as little as $5,000.

The 8 bedroom, 6 bathroom, 19,060 sq. ft. mansion at 3206 Arden Road was built in 1940. It was purchased for $2,300,000 in December 2015 and is being renovated by developers who specialize in restoring and reselling luxury properties in Atlanta.

Pony up at least $5,000, and as soon as your funds clear you will get a 12 percent return on the year-long loan. You won’t own a mansion, but you can help restore one for someone else and make a little passive income in the process.

Reader Comments 0

1 comments
brendanspaar
brendanspaar

I'm disappointed after reading the article. Instead of learning how to make this part of my American Dream a reality, I see it's just offering me a chance to get a 12% return on my money. I'd hope to at least get to spend the night in the place I helped finance!