Investor · Denver, CO · Member since 2016 · 84 posts · 22 votes
I've been looking at several investment groups in Atlanta. Anyone have experience with investing 50-100K with one of these groups? Some are offering 10-20% returns. Any feedback or recommendations would help!
Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
10y
If an Atlanta turnkey provider is advertising 10-20% right now, I'd dig real hard into where they are getting those numbers. Even back in Atlanta's heyday, the cap rates were about 14%. That's when things were spectacular there. I'm guessing someone is advertising to you some "ROI" inclusive of supposed appreciation and all that jazz...don't trust those.
I bought all my turnkeys in Atlanta and still have connections there, but honestly as much as the prices have gone up there, you're just as well off going through an agent. The best turnkey provider I know there, with the best properties, is horribly hard to work with and their PM is horrible. So you could save yourself those stresses with an agent...
Don't trust any house in Atlanta that is below about $70k, $80k to be safer. Four years ago, awesome properties in those lower ranges. Now? Not a chance.
Investor · Denver, CO · Member since 2016 · 84 posts · 22 votes
10y
Hey Ali,
Thanks for the reply! When you say I am safer off going through an agent, I'm not sure I follow. Do you know agents that offer turnkey services? I work full time as a PM and do not want to give another 20 hours a week to managing a flip in this season of life. I'd like to do 10 turnkey deals around $100K each total invested, save the cash and buy a 10-20 unit complex then flip more properties to pay it off the rentals and repeat. Do you think this is realistic? What would you recommend to getting started with little time on my hands?