Know any good places for rental properties in Georgia?

Investor · San Clemente, CA · Member since 2016 · 29 posts · 4 votes

Hello, A friend of mine has asked me to partner up with him on getting rental properties in Georgia. Was wondering if anyone knows what's a good place too look into. He said Dalton, GA but there's got to be more out in Georgia. I have never been there. Any suggestions or advice? Thanks!

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Robert GilstrapPro Member

Residential Real Estate Broker · Cartersville, GA · Member since 2015 · 575 posts · 581 votes

@Richard Nix M. Caasi Counties: Cobb, Bartow, Paulding in that order.

Cities: Kennesaw, Acworth, Cartersville, closer in parts of Hiram and Dallas in that order.

Low crime, low taxes, landlord friendly, low unemployment, great schools, great economic development.

Nothing against Dalton but I like to fish in a big pond and Dalton ain't that.

[email protected]770-480-7301

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Ali Boone
Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
9y
Georgia has already gone through it's heyday of investing for the most part. However, there is still stuff there if you are set on buying there. Most of the properties that will cash-flow are going to be along I-20 (east and west) and south from there. Dalton is way north Georgia, and it may cash-flow, but you're almost in TN and near Chattanooga at that point. I'd be a little worried about the renter pool up there. Not for low quality tenants, but more for whether a lot of people rent there. I'd assume a lot would buy.
Any reason for GA in particular? I grew up in Atlanta and all of my properties are there. But I bought at the start of the boom. Now you're looking at post-boom.
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Richard Nix M. Caasi
OP
Investor · San Clemente, CA · Member since 2016 · 29 posts · 4 votes
9y
Ali Boone my friend lived their for 8 years and now lives in California. I am very picky on my first property investment. I've heard about the carpet industry growing in Dalton, but wanted to see if there's other places I can look into around Georgia.
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Ali Boone
Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
9y
Makes sense. As far as different places, there will always be a difference in exit strategy and appreciation potential if you are talking about cities way on the outskirts from the big cities (like Dalton is 1.5hrs from Atlanta, but commutable to Chattanooga) versus investing closer to the bigger cities. Like I said, if you try for Dalton I think the most important thing would be to find out about the potential tenant pool. I do know that there is absolutely nothing in Dalton other than the carpet factory, which has been there forever. If anyone lives there, they probably work with the carpet companies or commute to Chattanooga. For bigger jobs at least.
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Richard Nix M. Caasi
OP
Investor · San Clemente, CA · Member since 2016 · 29 posts · 4 votes
9y
Ali Boone a few days ago I've tried calling the nearest property management company and I have not yet found one in Dalton. That is why I am having second thoughts in Dalton, maybe I have to dig in deeper... I will definitely take your advice though.
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Tim Ryan
Investor / Mentor / Contractor · Arcadia, CA Buying Out of State · Member since 2015 · 655 posts · 622 votes
9y
I think Dalton is too small a market. Chattanooga is booming right now for both rental and home purchase. You need to go there. Don't think you can do this with internet and talking to people remotely. I have had many people (mostly realtors) try to sell me crap out there. Then when I went and made connections I learned the truth. Good luck. At least you know you have to go out of state. So Cal is a no go for cash flow.
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Matt Masulis
Investor · Chattanooga, TN · Member since 2016 · 10 posts · 5 votes
9y
Chattanooga, like Dalton, can be tricky to pin down a decent deal. I'm a local and very familiar with Chattanooga and surrounding areas and still find myself driving to check out a property that may or may not be a good deal because it is on a street that goes from great to bad and back within just a couple of blocks. Dalton is growing and just a short drive away. I know many people that make the commute daily and love living in Dalton. I agree with Tim. You may need to make a trip out here.
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Dennis R.
Investor · Atlanta, GA · Member since 2015 · 10 posts · 3 votes
9y
@Ali Boone What areas do you target that are at the beginning of their boom?
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Eric Cross
Investor · Dacula, GA · Member since 2015 · 38 posts · 12 votes
9y
Richard , always best to stay where most of the population is so you keep the property rented out , Dalton Ga has very few people living there, and limited industries. Gwinnett county has 1,000,000 people in our county, with business growth and development and a chamber of commerce that's nationally ranked for bringing those higher paying jobs in and most important many of the schools are top ranked as well.
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Asim Alam
Professional · Tucker, GA · Member since 2017 · 138 posts · 29 votes
9y
@Richard Nix M. Caasi: Richard, I'd love to hear about what you ultimately decide. A lot of my clients are investing heavily in Gwinnett County, up and down the GA-78 corridor. I'm about to purchase my first investment property (single-family residence) in a couple of months. I'm looking for a fixer-upper in Dekalb County. Although Dekalb is pretty well built up, there's quite a few gems scattered around for those who want to put in the elbow grease. Because it's a bit of a liberal enclave, has an excellent school district, and there's no room to grow, I expect rental values to continue growing.
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Asim Alam
Professional · Tucker, GA · Member since 2017 · 138 posts · 29 votes
9y
@Ali Boone: Ali, you're kinda frightening me with the Atlanta area is past its heyday assessment. I am hoping to find some gems in Dekalb County and where I am, along the Dekalb-Gwinnett border. :-D
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Robert GilstrapPro Member
Residential Real Estate Broker · Cartersville, GA · Member since 2015 · 575 posts · 581 votes
9y
@Richard Nix M. Caasi Counties: Cobb, Bartow, Paulding in that order.
Cities: Kennesaw, Acworth, Cartersville, closer in parts of Hiram and Dallas in that order.
Low crime, low taxes, landlord friendly, low unemployment, great schools, great economic development.
Nothing against Dalton but I like to fish in a big pond and Dalton ain't that.
[email protected]770-480-7301
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Corey Owen
Rental Property Investor · Marietta, GA · Member since 2015 · 18 posts · 5 votes
9y
I second Kennesaw. It is very difficult to find a deal, but you will have zero issues finding good tenants. Depending on home size you can expect $1200+ on rent with some homes able to bring in close to $2000. You will really have to do your homework to find a deal though if you are trying to stick to the 1% rule.
2 Reply
Julie Kern
Investor · Taylorsville, GA · Member since 2014 · 352 posts · 540 votes
9y
Agree with @Robert Gilstrap and @Corey Owen. As Corey said, it's hard to find deals in Kennesaw (and Acworth, etc.) but if you can you'll have a good selection of quality tenants. We live and invest in Kennesaw/Acworth (5 properties currently) and have had great tenants so far in all 4 that are rented (the 5th was just listed).
1 Reply
Parker Stiles
Flipper/Rehabber · Acworth, GA · Member since 2014 · 246 posts · 92 votes
9y
My wife and I have ours down in Decatur. Once your figure out how to vet the tenants properly, you will have very little issues, and MUCH more cash flow. We like 4 sided brick SFR's and Duplex's. I have gotten too spoiled with the cash flow to get one up in the good school district areas. If one came up, then I would for sure buy, but it's next to impossible to find something that competes with the numbers in lower income areas.
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Asim Alam
Professional · Tucker, GA · Member since 2017 · 138 posts · 29 votes
9y
@Parker Stiles: I'm getting ready to do my first flip and was looking at Dekalb County. I hadn't seen much in the way of duplexes. Where have you found your best duplex investments.
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Ali Boone
Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
9y
@Dennis R. Nowhere around Atlanta anymore. And realistically, because the real estate economy is so strong right now, no market is at the beginning of such a big boom as Atlanta was a few years ago. But right now I'm focusing on Indy (no boom intended, but steady market), KC, Chicago, and Philly. All "booms" very minimal at this point as I said, but all of those are more infant than Atlanta is right now.
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Ali Boone
Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
9y
@Asim Alam No need to be frightened. At least there is still cash flow in/around Atlanta, unlike a lot of markets. I personally think there are higher returns elsewhere and with less saturation, so I focus on those areas, but buying in Atlanta isn't bad if that's where you want to buy. Just double-check the rentability of wherever you are looking and make sure the numbers work and you're fine.
1 Reply
Michaela G.
Investor · Atlanta, GA · Member since 2013 · 3k+ posts · 3k+ votes
9y
I would suggest to look at the neighborhoods that are bordering the Beltline. If they cashflow well now, then the future appreciation with construction of Beltline will only be icing on the cake.
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Joel OwensBusiness Member
Moderator
Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
9y
I don't do residential at all. Having said that born and raised in GA for 42 years. I am on the commercial real estate side. I am familiar with Dalton as I sold some larger apartment buildings there with a client many years ago ( they owned hundreds of units in town there) .
It was right after the down turn around 2009,2010. There is carpet there but a ton of other building products. There is the good side of town more affluent and then the side where a bunch of apartments are. Those factory workers you need to collect rents weekly as the tenants tend to blow the checks fast on booze,women, other things etc.
When the downturn happened apartment vacancies went from 95% occupancy to 75% and landlords fought with reduced rents to keep tenants. That area is heavily tied to the construction industry. When it booms vacancy tends to be tight and they add more houses and apartments. When it goes bust in a down turn there is an over supply and rents fall and vacancies increase.
Unless you were getting an amazing cheap price and ultra high rents I don't see the benefit. That area is more for a local investor who understands all the nooks and crannies there and has a big portfolio of houses,apartments,etc.
Outside investors tend to look at major metros in each state only. Atlanta MSA area has 20 plus counties with some great areas. Just do not go looking for 2010 pricing when it's 2017!!
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Asim Alam
Professional · Tucker, GA · Member since 2017 · 138 posts · 29 votes
9y
Since I am starting out, I think I should focus on flipping rather than rentals, so I can learn how to estimate rehab costs and manage contractors without worrying about the property management piece. If the Atlanta area is by and large saturated, I am thinking I should pick 3 or 4 areas and focus on deals there. Probably Dekalb County, Gwinnett County, Covington in Rockdale County, and properties near the Beltline.
Btw, @Ali Boone, "Hipster Investments"? Love it! I toyed around with naming my LLC after obscure Smiths or Morrissey lyrics but ended up naming it after myself and my wife, "Guardian Honeybee, LLC" Asim means Guardian, Melissa means Honeybee.
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Ali Boone
Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
9y
@Asim Alam Haha. That's awesome. Yep, I wanted some kind of name that would trigger people to click on it. :) (it worked!)
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Collin Doss
Real Estate Agent · Rome, GA · Member since 2015 · 23 posts · 4 votes
9y
Originally posted by @Richard Nix M. Caasi:

Ali Boone a few days ago I've tried calling the nearest property management company and I have not yet found one in Dalton. That is why I am having second thoughts in Dalton, maybe I have to dig in deeper... I will definitely take your advice though.
Hey Richard! I work for a property management company in Rome but we own/manage some apartments in Dalton. Rome/Adairsville is also a very good area for rentals. I would love to talk with you further if you need any assistance in Northwest Georgia!
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Andy Kim
Fullerton, CA · Member since 2015 · 24 posts · 1 vote
9y
hello everyone!
I am very interested in some properties in the kennesaw/acworth/lawrenceville area. Will be making the trip out there March 1st to make some contacts and check out the area. Wanting to connect with investors/agents/contractors when I am out there. Please let me know if you would like to connect! Thanks!
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Stephanie Ro
New to Real Estate · Lockdown Capital of the World Melbourne, Australia · Member since 2021 · 60 posts · 26 votes
5y
I am 4 years too late to this thread! Google brought me here. I recently became a Bigger Pocketier! I am wanting to invest in GA, but after reading this thread (and 4 years later), I may move my interest up to Indiana or Kentucky. @Richard Nix M. Caasi How did you go with your investments?! Tell me you bought something?! I can't wait for my first purchase, but I am in the early stages. (Like fresh into BP starting last week).
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