I'm a residential investor in Atlanta Ga. i had been investing in SFH for 6 years and just ready to start scaling up to apartment buildings.
Looking to connect with more experienced investors on the field to learn as much i can from them and for sure to add tons of value to
Their business as well.
Congratulations.... you have made the right decision. Have you considered joining a local REIA or a local Real Estate Meetup? Try and locate these resources and you will definitely meet somebody with whom you can work. Again, I congratulate and wish you well.
@Nii Okai hi, that’s my goal too! To start attending to all meetups i can.
I really appreciate your sugestion.
@Eduardo Calle You've definitely made a great decision to start investing in apartment buildings. You also have a very solid market, Atlanta, GA, for starting as well.
Glad to be connected with you and feel free to search the forum for any questions you may have and ask any that you are need help with on this forum.
@Eduardo Calle great decision. You have the right idea. Multifamily all around the board in my opinion is much more beneficial. What helped us grow our network is attending multifamily conferences. Connecting with other like minded individuals with the potential to create strategic partnerships. Since you're in the SE they're not hard to get to. You have the Jake and Gino event coming up in October in Orlando. Seems like there's a conference going on somewhere on any given weekend. Good luck on your quest
@Eduardo Calle Love your market! Let's connect.
@Dan Handford awesome, and thank you so much for replying back.
@Tj Hines thank you for all your great advice.
@Brent Kawakami for sure. Thanks in advance
Great post as the development in Atlanta continues to grow. We've seen Microsoft announce a new campus here at Atlantic Station, more people are relocating from the north which has allowed Atlanta to continue but that growth has included the surrounding areas of Atlanta. Roswell continues to redevelop with an entertainment downtown, Dawsonville has seen the development of new multi-family apartment buildings, retail and infrastructure such as the expansion of 400. A diverse work force, addition of people relocating, Atlanta's emergence as a tech hub and relative cost of living in comparison to NY, Chicago, LA, etc. make it a desirable location for folks who are looking to relocate. Additionally, the emphasis of remote work has accelerated this growth as we see more and more move from other metros in the north.
Happy to connect to discuss Atlanta as well as the region further.
@Eduardo Calle congratulations on your success so far. Have you thought about being apart of a REIA or considered syndication? It is a great way to connect with people in the Atlanta area and syndication is a great way to invest without doing the heavy lifting of executing the business plan. Hope you are doing well
Besides the improved cash flow from one asset, another of the benefits you'll find is that managing one property in one location is a lot easier than managing numerous SFH properties in various geographic locations. Finding a mentor is a great start to your cross-over journey. But I'd also advise identifying two other assets that are worth a lot more than you'll understand until after you close your first MF project: (i) a strong, well-networked real estate agent; and (ii) a high-responsive, extremely experienced commercial real estate broker.
First, the agent will do all the legwork to find you multiple opportunities simultaneously, and offer advice on specific geographic areas in terms of comps, employers who bring value to the area, and any upcoming development that could positively impact your prospective asset.
Second, the mortgage broker (especially if they have a lending background) will be able to underwrite the deal the way a lender will look at it, will have specific relationships with lenders with whom they already have relationships and credibility, they'll know the specific structure, rate, terms, programs/products that you will not know on your own. Even a Loan Officer at a bank you visit may not know all their own products, so don't expect the Loan Officer to advocate for you. The savings in negotiations for the bank fee, the rate, the down payment, amortization and selling the loan to the bank's credit committee pays for itself numerous times over the term of the loan.
@Eduardo Calle , I'd be happy to connect with you. My team and I acquired a 54 unit in the Atlanta area earlier this year.