Investor · Atlanta, GA · Member since 2014 · 389 posts · 250 votes
11y
Hi @Peter Skobic -- I would think a bigger question would be whether to buy on a street that's predominantly rentals (no matter who owns them), rather than owner-occupied. I prefer to be on a street that's more owned than rented. Less competition for tenants (if it's a desirable street), theoretically better maintained/pride in ownership ) and a stable population of folks to get to know as an owner/landlord.
Actually, it looks as though Google Maps is including the beltline now, so you can see exactly where a potential purchase is relative to the path. Cool!
Rental Property Investor · Atlanta, GA · Member since 2013 · 67 posts · 26 votes
11y
Since @Petar Skobic is investing in south Atlanta and we got on the topic of schools - I'd like to point out that in my experience, school ratings don't matter to many renters in low income SW Atlanta. These areas have a subset of renters with a completely different culture and standard. They have their reasons for wanting to live there. And surprisingly, many of them will tell you the schools are GOOD. The majority of my applicants who had kids wanted to move to my house because of the school (rated 1 out of 10)! I always asked why they liked the school and some of their reasons were that it was newer, or bigger, or that their kids' friends went there and they didn't want to break them up. So if you invest in low income areas in Atlanta, school ratings won't be an accurate measurement of desirability for the tenant.
Originally posted by @David Begley:
In other words, an Investor really should have some boots on the ground if investing in Atlanta because neighborhood, as well as school district, generalizations are not valid and can get you burned.
Because of the bad schools, I fully expected to get burned. I had no idea how I was going to find a family to live in my 3/2 on the worst street in one of the worst neighborhoods in Atlanta. But thru getting to know those living in the neighborhood, I learned the kinds of people I wanted to rent to. The neighbors rallied around me when I was screening tenants - they'd stand across the street and wiggle their eyebrows or draw knives across their throats at all the bad ones, ha.
Atlanta is a fascinating and diverse place to invest in. I love this city, all it was and is becoming, and I'm proud to be a part of it. But you gotta get those boots on the ground!
Investor · Atlanta, GA · Member since 2014 · 389 posts · 250 votes
11y
Love it! Whether you self-manage or have a property manager, there really is no substitute for the person on the spot being known and having a positive relationship in the neighborhood. In my experience, if you respect and value that they live there while you don't, folks will mostly try to help you out.
Residential Real Estate Agent · Atlanta, GA · Member since 2009 · 381 posts · 134 votes
11y
Yes, I would. Everyone has to live somewhere. I would never personally want to live in a rental-zone but, for some people this is totally acceptable and maybe even preferred. As long as the property is in a "safe-enough" area for you to complete renovations, go for it.