Just had a quick question for you guys/gals on the hot spots for Fix n Flips.
I am out here in Newton County and I see many houses going up for sale here. The stats/trends seem to reflect a growth in movement here. However, I'm finding that many of these homes are being purchased by Corporations with professional Registration Companies, which turn out to be from outside of the state and/or country.
My question is, are these buy and sell statistics driving up the illusion of people moving to these counties? Or are these counties becoming hot-spots as the prices slowly increase? I'm thinking is could be both out here in Newton. But perhaps an agent/investor/rehabber has better insight.
That's a tough one, they probably have intentions or something but I would continue with the plan you have if you want to grab sone properties.
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I have a handful of rentals in Newton county, and have been investing there for five years. What I've found with Newton is that it's a great buy and hold market, but not so good for flips. Unless you plan on doing some serious marketing to get properties EXTREMELY cheap, then Newton is not the best.
The schools are not that good throughout the whole county, so I've found that most people won't pay the same retail prices for a flip that you would get in neighboring Walton or Gwinnett counties. But I love the area for buy and holds, and you are correct the prices are starting to soar now, especially on properties north of I-20.
I think you may be right. Newton may be a good spot for Buy/Hold as I do see many rentals here. The sales are there as well but I find when I run comps for many subdivisions, they are many times over 6 months to a year old just to find a few similar. Perhaps I should begin focusing on hotspots in Rockdale or perhaps Walton as your mentioned. Gwinnett seems too crazy for me at the moment...lol.
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