Rental Property Investor · Member since 2019 · 18 posts · 4 votes
I am still relatively new to Atlanta. My strategy is buy and hold. I am seeking to buy a single family house (3 bedroom/2 bath). I am seeking to learn about the areas with the greatest potential for appreciation within 5 to 10 years. Areas that are already relatively low crime area. What are areas that you are looking at or know of? Thanks
I’d love to know where this area is too. If I reply to a post will I get updates when people post. Love to hear where people have had success or areas to look.
@Wole Sun the challenge will be high appreciation AND low crime. It’s hard to find both. A lot of the parts of Atlanta which are projected to grow significantly aren’t necessarily in the best part of town. I’ve heard the sweet spot is when about 30% of a street has turned - basically enough to reduce a lot of the crime but still with enough time to appreciate significantly. However, this is really hard TJ time.
Hi. This is good information. How would you go about determining if 30 percent of the street or immediate area has turned? Could one way be to look at recent sales? If so. How many years back will you account for? I have been looking at some areas in east Atlanta where a house in decent shape is about 250k but surrounding areas have 300s (rehabbed) and 400s (new construction). The area has also has had 25/125 homes that have been sold in the past 2 years. Not as many homes sold recently on the street, but the neighbor who are a younger couple indicated that the neighborhood is mostly older folks and younger folks will be buying more and more as the houses turnover, or get sold at the new higher prices.
Also, what areas would you recommend to find these properties ?
There’s no exact way to know how much of an area has turned. A lot of it is simply driving around. If you see a ton of rundown houses and a very small percentage of renovations, it could be in the early stages of turning (like 10%). And if almost every house on the street looks recently renovated, you’ve probably missed the boat.
One indicator I’ve found: lots of Atlanta United flags hanging = young, white people. While it’s a little messed up from a social perspective, gentrification (particularly younger folks) coming in usually means an area is turning, at least for a lot of the hot areas ITP.
East Atlanta has already seen a good portion of its growth IMO (Reynoldstown, Edgewood, Peoplestown, etc.). Not saying deals don’t exist here, but they are much harder to find. In general, I’m bullish on lots of areas West if I-75 and South of I-20. You have to be careful here though because some areas have turned a lot, and others still have a ways to go. It can even vary significantly within one or two streets over.
@Michael Ehmann funny you mention the Atlanta united flag. I drove by my other rental the other day and guess what? It had a United flag outside of it lol