Kenny Rogers puts former fixer-upper in Atlanta up for sale.
That's exactly what singer Kenny Rogers and his wife Wanda have done for the tenth time. They bought a 9,000 square foot house in Atlanta's Buckhead neighborhood two years ago for $2.8 million. They redid the inside and the outside at a cost of $3 million, and now they're trying to sell it for $7.9 million. That would be a 33% profit before closing costs and commissions. Not bad for two years of work.
Of course, conditions in the real estate market will have an impact on how quickly Rogers and his wife can sell the home. But if you're in the market for a six bedroom, six bath house complete with a pool and full gym in the Atlanta area, you might want to check this one out. I'll pass for now. Sounds a little small for me.
Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.