Real Estate Broker · Indianapolis, IN · Member since 2014 · 3k+ posts · 2k+ votes
I'm not sure if I'll get any serious answers but I thought this was worth a shot....
Where do I want to market to in Atlanta? I'm working with a partner and trying to iron out a farm area. We are looking for wholesale, flip, and rentals. Looking to drop 3-5k pieces of mail a month.
If you're looking for deals I'd appreciate any help!
Investor · Dallas, TX · Member since 2014 · 2k+ posts · 1k+ votes
10y
It's a big area, and there's significant players in the market. So, you are definitely better off concentrating on a "farm" area. But area...where...is only one part of the equation. Equally important is WHO you are marketing to. Your list within the area is your Rosetta Stone.
This is what I would do...find a reasonably sized area that represents the...
median sales price for the Atlanta market
median income level
shows growth...people are moving in
has good to great schools
not a new development
After I've found my farm area, I'm going to market to the folks most likely to be in a position to sell below market...meaning they need to have at least 30% equity in the property to even have a hope of hitting the 70% rule on the exit. Since I also have to account for rehab, I'm probably going to want at least 40%. This isn't a sure thing, because people could have a reverse or a 2nd, or any number of liens, but I look for deeds that have a last transfer date more than 12-years ago. That's my first cut...an equity list.
Afterward, you have so choices to make. We've decided to not go heavy on the absentee owners, because they've been done to death and are probably receiving 10 letters per week. There are other things you can filter on, like over 55, other exemptions, etc. You can even combine lists and filter for equity properties with code violations.
Investor · Dallas, TX · Member since 2014 · 2k+ posts · 1k+ votes
10y
It's a big area, and there's significant players in the market. So, you are definitely better off concentrating on a "farm" area. But area...where...is only one part of the equation. Equally important is WHO you are marketing to. Your list within the area is your Rosetta Stone.
This is what I would do...find a reasonably sized area that represents the...
median sales price for the Atlanta market
median income level
shows growth...people are moving in
has good to great schools
not a new development
After I've found my farm area, I'm going to market to the folks most likely to be in a position to sell below market...meaning they need to have at least 30% equity in the property to even have a hope of hitting the 70% rule on the exit. Since I also have to account for rehab, I'm probably going to want at least 40%. This isn't a sure thing, because people could have a reverse or a 2nd, or any number of liens, but I look for deeds that have a last transfer date more than 12-years ago. That's my first cut...an equity list.
Afterward, you have so choices to make. We've decided to not go heavy on the absentee owners, because they've been done to death and are probably receiving 10 letters per week. There are other things you can filter on, like over 55, other exemptions, etc. You can even combine lists and filter for equity properties with code violations.
I'm not sure if I'll get any serious answers but I thought this was worth a shot....
Where do I want to market to in Atlanta? I'm working with a partner and trying to iron out a farm area. We are looking for wholesale, flip, and rentals. Looking to drop 3-5k pieces of mail a month.
If you're looking for deals I'd appreciate any help!
The Big money is between I75 and I85, above I285. I would say if you every lived here start in that area.
I'm not sure if I'll get any serious answers but I thought this was worth a shot....
Where do I want to market to in Atlanta? I'm working with a partner and trying to iron out a farm area. We are looking for wholesale, flip, and rentals. Looking to drop 3-5k pieces of mail a month.
If you're looking for deals I'd appreciate any help!
The Big money is between I75 and I85, above I285. I would say if you every lived here start in that area.
Thank you. That's actually where we were looking. Lol