I am a new investor (I use this term lightly as I have not invested anything but time to learning yet) looking to get into multifamily houses. After doing a lot of research and reading, I have concluded that I would like to get into the north Atlanta market. I was looking at Marietta or the Sandy Springs area, as I see both areas as having some good potential in the years to come. Is there anyone currently investing in those markets that would have any advice for me? I am at the point where I would like to start getting my ear to the ground and get to building some relationships. It is time to move forward on this, but did I mention there is a kicker....I will be investing from Japan. Anything you've got...I'm all ears. Thanks again.
Those are my markets, but I don't do buy and hold. Not many small multis in either spot. Marietta is pretty big so does have some rental spots and some older duplexes and triplexes here and there, but not a lot. Sandy Springs will be nonexistent I would think.
Just did an FMLS search, there's 15 in Marietta, 0 in Sandy Springs currently listed. The ones in Marietta are pretty high GRM's.
You need to find a good property manager and great real estate agent if you are buying from Japan. The higher end SFR stuff will be low touch and you could do that stuff from there. I wouldn't be buying in lesser areas from overseas, they require too much attention. If you buy in neighborhoods where there arent many rentals, especially in the better schools, you'll get less cash flow but more appreciation and less tenant headaches. Multis it'll depend greatly on what you buy..
@Darrell Shepherd Thanks for the good gouge, I know that it will probably be tough to find some good properties in that area, especially working from overseas. My plan is to try and build some connections from here and then go spend a week or two on the ground dedicated solely to finding a property. I am not set that it needs to be a multifamily, but if I can make it work I would like to. That being said, I do not want to rent to the low end renters. If I can make the numbers work then I will give it a go. I'm guessing the SFRs are quite a bit more available in those areas than multi's. Would you think these areas would be good for a first time investor? Thanks again.
@Azeez K. That is quite an impressive thread with a lot of information. Thanks for pointing me to that, now on with the reading. It looks to be very useful. Thank you.
@Adam Treece you are most welcome. Good Luck! Let us know if you have any other questions.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing