Large and expensive purchases by Atlanta rappers rarely make the news, but hip-hop superstars Offset and Cardi B’s — ne’ Kiari Cephus, 27, and Belcalis Almanzar, 26 — recent purchase in Clayton County is not your ordinary home closure, according to the seller.
The pair bought five homes for $201,840 and adjoining property/land for $48,080 in Jonesboro, which has a population of 4,600 people and a median income just above $30,000 per year, according to Data USA.
“We are investors so we’re buying and selling property all the time,” the seller, JMH Home Buyers President Jeff Dimock, said. “It was interesting that it was a celebrity couple, I assumed it was somebody looking for a good cash-flow investment. During the pre-sale conversations we were not aware of the buyers’ identities.”
Cephus, a member of the platinum-selling rap group Migos, is listed as the main buyer of the property, while Almanzar, herself a platinum-selling rap artist, is listed as an additional buyer. The married couple have a 9-month old daughter, Kulture Kiari Cephus.
“Their agent contacted us to purchase [the property],” Dimock said. “From our discussions we believed the buyer would either be holding onto them as high ROI (Return on Investment) rental properties, or fixing them up for retail sale.”
According to the original listing on AtlantaPropertyDepot.com, the homes are all located on Village Drive near Lake Tara and I-75 exit 235. Four of the properties have three bedrooms and one bath, with the other being a two bedroom with a single bath. At the present time four of the five homes have tenants.
“I can’t speculate on their long-term plans for the properties, but in the near term they seem like excellent investments, so I would expect they would hold onto that income-producing value initially,” added Dimock, who says JMH Home Buyers and their parent company JMH Ventures has been in operation for six years.
Selling to celebrities has its perks, even when the property is in Clayton County, a southern suburb of Atlanta. A day after the purchase was made public Dimock says he heard from a buyer in California interested in “buying whatever property we had near theirs.”
JMH Ventures is located at 5425 Peachtree Parkway in Norcross.