Real Estate Investor · Metro Atlanta, GA · Member since 2008 · 3 posts · 0 votes
Hi. I am a new investor in the Atlanta area. I have studied for some time now and I am ready to get into the game. The only true way to learn is to do. I am interested to meet other investors from the Atlanta area and around the country. I look forward to continuing the sharing of great information on here.
Welcome to the group. There's quite a few members of BP from the Atlanta area. I'm sure you'll be able to pick up some great information as well as establish some invaluable contacts. Looking forward to chatting with you.
It seems that in the current market purchasing and holding onto property seems the best bet since the number of buyers out there is low. However, I am not going to rule out the opportunity to flip some properties. I am fortunate that I spent some time lining up private lenders before going out to pursue properties. So, I have a little bit of leeway when it comes to my options. It is sort of a catch 22. Do I go for the quick cash or the potential perpetual income? I joined the Atlanta area REIA so I am interested in doing some networking there, but I am not ruling out investing across the country. Hopefully I can find a great mentor and get some guidance. I also have some great oversees contacts after working in the IT industry for so long and working with allot of overseas resources. I am working on getting them into my private money pool, but there are ALLOT more regulations and laws to deal with when you go down that road.
You are well ahead of 90+% of the investors out there, yes, even the experienced ones.
Since you already have a relationship with private lenders you have a lot more options open to you and many of those will be very profitable.
As to the approach, I am a buy and hold but still do opportunistic flips. The best return from the current market will be to buy and hold until the market turns around. It might take awhile, but if you buy right you can easily rent it, cover all expenses and turn some positive cash flow. Many areas are already seeing some upward pressure on rents and most areas will follow as the subprime mess sorts itself out.
From what you have posted here, I'd say you are very well positioned to take advantage of the current market.
I am a wholesaler here in the Atlanta market as well. It'll take you a little time to get up to speed, but don't get discouraged. Stick with the GAREIA and look into IRCA-Atlanta.
Let me know if you'll be going out to either groups general body meeting events next week. Look at my posts if you have any questions about our market, drop me a line.
Welcome aboard here. I am sure your experience will be invaluable to new individuals here on Bigger Pockets. Also I am sure you will gain not only a powerful network, but also amazing information here
Welcome to BP. If you decide to invest across the country (which is a valid & profitable strategy), make sure you acquire the knowledge of how to build your team and complete your due diligence. Those two items are of vital importance for investing out of state.
Welcome to BP , you can meet a lot of well educated people here who know about the game and have a lot of experience I hope you make the best out of it.