Rental Property Investor · Walnut Creek, CA · Member since 2019 · 116 posts · 38 votes
Hello BP! Been researching Atlanta and its neighboring cities , looks like from what I've read, there was an increase in population and job growth for the past few years, crime went down, and decreased unemployment rate (thanks to the Fortune 500 companies in the area). Just want to get your thoughts investing in and around Atlanta? Would you still get Cash Flow and Appreciation there? Is the market too hot to get in? Thanks.
Good afternoon Armel. I literally just posted that over the past few weeks I've been getting a lot of off market deals from mt motivated sellers. With so many different counties and areas, it really all boils down to what your specifics are and what exit strategies you want to implement.
Good afternoon Armel. I literally just posted that over the past few weeks I've been getting a lot of off market deals from mt motivated sellers. With so many different counties and areas, it really all boils down to what your specifics are and what exit strategies you want to implement.
Hi Reginald. Keeping it simple :Cash flow and some appreciation, use my saved capital and reuse it again = BRRRR strategy. I've read some great things on the west side of Atlanta.
It is on paper, but there is a lot of activity and renovations in the area. With so many people opting to live in the city again, it's creating an opportunity to increase the property values along the area. Thereby making better tenants/renters and removing a lot of blight and vacancies and/or abandoned houses.
@Armel Bayot Are you flipping or holding? If holding, will you get 4% mortgage rate? These things matter when choosing a location because costs have gone up a lot.
A decent rental in the City is $250k - $350k. Rents may be $1500 - $2000. You'd break even or cash flow just a little depending on your financing.
West End and West Side are C neighborhoods on their way to A. There's quite a gap between as-is and rehabbed houses (or new build). The pace is pretty quick from my point of view, but it's subjective.
I'd go farther outside of the City for cash flow to Austell or McDonough. Westside and South are great for appreciation.
Lower 30315, and 30316, 30311, 30314,30318, 30032 are all good for BRRRs but pricey and/or big rehabs.
I'd look for 1950s - 1960s mid-century houses. They're easier to rehab than the older houses in these zips, but they can appreciate a lot with an interesting rehab.
A lot of the houses in these zips will be much older. You may also want to expand your search to Mableton, Austell.