Brooklyn, NY · Member since 2017 · 51 posts · 30 votes
I am new to bigger pockets and am interested in buying my first investment property in the greater Atlanta or Dallas area. I am looking for single family homes in good residential areas that can generate positive cash flow each month. I'm looking for homes in the 150-180k range. Any neighborhood suggestions? Thanks!
Hi @Joe Vastola welcome! Are you familiar with the Atlanta market? Are there specific returns you are looking for or is property appreciation more important?
Hey @Joe Vastola congrats on joining BP! You have come to the right place. It's difficult to give you names of good neighborhoods without talking through your specific criteria as well as specific area. I work with a large investment brokerage in Woodstock, give me a call if you'd like to talk about what we have to offer!
Joe Vastola I am also an out of state investor. I have five rentals in Atlanta and getting into Dallas in MFh. Let's compare notes I would be interested to see what you have found in ATL. Great markets.
Hi @Joe Vastola welcome! Are you familiar with the Atlanta market? Are there specific returns you are looking for or is property appreciation more important?
Hi @Ryan Johnston thanks. I have been doing some research and have a friend from school who recently purchased a home in the area. Starting out, I am more interested in properties that can generate cash flow each month ($250-300), but have a long term outlook as well. Would love to hear any suggestions you may have!
Firstly, welcome to BP. I am active investor in the Atlanta market and although you can find properties that cash flow the problem is at the price point $150-180K it would be challenging for the property to cash flow as you would need to rent the property at least $2250 - $2700. Instead of focusing just on cash flow you may want to focus on growth areas or ideally both growth+cashflow. The key is to buy value and make money the day you buy the property i.e. chase value and buy right.
Here is a link of Average rental market trends in Atlanta.