Investor · Peachtree Corners, GA · Member since 2012 · 131 posts · 83 votes
Anyone invest in 30318?
I picked some properties in 30310, 30314, 30315, 30318 this weekend to look at... I'm use to 30032 being rough but those zipcodes I looked at this weekend looked like a war zone. I felt best about 30318 and anything close to some local parks but wow... Anyone care to share their experience with that part of Atlanta? I buy and hold them for rentals.
Contractor · Atlanta, GA · Member since 2012 · 176 posts · 103 votes
10y
I own 2 houses in 30318, a neighborhood called Collier Heights, which is on the National Historic Register. It is a stable neighborhood with a lot of retired educators. I have not had good luck with tenants however. 2 of the 4 have broken the lease and tried to skip out on rent...I garnished the wages of the first one and have just recently filed suit on the second.
After the second one vacated I was at the house on a Sunday morning and got my *** chewed out by a little old lady on her way to church because of the condition that the tenant left the property in. I tried to explain to her that I could not legally do anything until the official eviction but she was having none of it. It was pretty funny but also made me feel good that the residents took pride in their neighborhood.
Investor · Atlanta, GA · Member since 2015 · 31 posts · 16 votes
10y
I too have been in 30032 for years but have just recently moved to 30315 (east of the connector). I spent a lot of time driving the zip codes you have listed. I felt 30318 and 30314 had many more "war zones."
Contractor · Atlanta, GA · Member since 2012 · 176 posts · 103 votes
10y
I own 2 houses in 30318, a neighborhood called Collier Heights, which is on the National Historic Register. It is a stable neighborhood with a lot of retired educators. I have not had good luck with tenants however. 2 of the 4 have broken the lease and tried to skip out on rent...I garnished the wages of the first one and have just recently filed suit on the second.
After the second one vacated I was at the house on a Sunday morning and got my *** chewed out by a little old lady on her way to church because of the condition that the tenant left the property in. I tried to explain to her that I could not legally do anything until the official eviction but she was having none of it. It was pretty funny but also made me feel good that the residents took pride in their neighborhood.
Investor · Peachtree Corners, GA · Member since 2012 · 131 posts · 83 votes
10y
@Mark Graffagnino I think you find tenants like that everywhere. I've had a few of those in my properties in Conyers. When you list in Collier Heights what kind of demand are you pulling? What kind of employment do these applicants have? Young/older/ large families? Whats the range of rent you ask for?
Investor · Peachtree Corners, GA · Member since 2012 · 131 posts · 83 votes
10y
@Dan Pepitone What neighborhoods do you invest in for zip code 30315?
How does it compare to 30032? I've been in 30032 for a while and somewhat enjoy it. My tenants are all referrals from others and haven't been too bad. But after driving through some of the areas I did this weekend... Decatur looked like heaven. I was blown away with all the abandoned/boarded up homes. There where still entire streets of them vacant.... Then you'd turn the corner and find a street that looked like it was stabilized. Pittsburgh is the neighborhood that I'm mostly referring too.
Contractor · Atlanta, GA · Member since 2012 · 176 posts · 103 votes
10y
I've been using a realtor to list my properties. He said a very large percentage of the inquiries are looking for Section 8, which I am not offering. The tenants that I've had have all had solid jobs....Neo-natal nurse with 2 kids (successful garnishment), two women/one kid who worked at Emory in administrative roles, hotel manager/4 kids (current lawsuit) and a single marketing rep/no kids. One property rents for $995, and the other is $1300.
Investor · Atlanta, GA · Member since 2015 · 31 posts · 16 votes
10y
@Watson
@Watson Smith Nothing compares to 30032 on the south side, that's the best lower income area. But the prices just continue to climb! As you know, homes we paid $15k for 5 years ago are now going for $50k. And I just can't spend that on those homes. 30315 reminds me of 30032 5-7 years ago. At that time there were many homes boarded up on each street. Now you don't see many at all.