See the agents BiggerPockets members work with in Atlanta, GA.
See agentsHey @Yin Wu, welcome to the BP community!
While I am not an expert on the Columbus market, I can tell you that if you're hoping for cash flow from a turnkey, on-market purchase, Atlanta is not the place to look. Being arguably the hottest market in the U.S. from a combination of investor & homebuyer activity, Atlanta home values have outpaced rent quite a bit. This isn't to say rents aren't going up - they definitely are - just not enough to keep pace with home values. I welcome others more familiar with the outskirt counties to correct me, but I believe this is the case for the entire MSA. Cash flow just does not exist here when purchasing on-market, turnkey properties.
That's the bad news. The good news is that if you're purchasing for long-term appreciation, Atlanta is definitely the market to look in. Also, if you're okay with getting creative and working hard, there are still opportunities to cash flow here. But, it won't be easy.
Hope this helps a bit. Please, feel free to reach out anytime if you have other questions or just want to chat!
Hey @Yin Wu, welcome to the BP community!
While I am not an expert on the Columbus market, I can tell you that if you're hoping for cash flow from a turnkey, on-market purchase, Atlanta is not the place to look. Being arguably the hottest market in the U.S. from a combination of investor & homebuyer activity, Atlanta home values have outpaced rent quite a bit. This isn't to say rents aren't going up - they definitely are - just not enough to keep pace with home values. I welcome others more familiar with the outskirt counties to correct me, but I believe this is the case for the entire MSA. Cash flow just does not exist here when purchasing on-market, turnkey properties.
That's the bad news. The good news is that if you're purchasing for long-term appreciation, Atlanta is definitely the market to look in. Also, if you're okay with getting creative and working hard, there are still opportunities to cash flow here. But, it won't be easy.
Hope this helps a bit. Please, feel free to reach out anytime if you have other questions or just want to chat!
I grew up in Atlanta, I love it there! I can see why it peaks yours interest. What makes you curious to invest in ATL? From my understanding, it seems ATL may be a more difficult market to enter for solid cashflow. I have had success with great cash flow and appreciation in states west of Georgia like Alabama, TN, Arkansas, OKC and Texas. Best of luck in all your investment goals!
Hey @Yin Wu, I'm an investor in a city about 45 minutes north of Columbus.
Columbus is tricky in my opinion and I feel as if growth is moving towards the outskirts. I'd look at Delaware, Pataskala, Dublin, Grove City, Westerville, Pickerington, or Hilard. There's a ton of economic growth, new home, and commercial construction going on around there.
I can agree with Brenden about the Atlanta prices, as I got in the Atlanta market in 2016 when prices where low, bought in Dallas at $107K and Atlanta $150K.
Those houses 5 years later are now worth $270K and $350K. Crazy!
Does anyone have any insights to share on Columbus or Atlanta rental market? I am looking into turnkey rentals there. I am not sure where to start such as turnkey company recommendations? areas to look into? Any feedback is appreciated!
Hi there, let’s connect. I can give you a run down of Atlanta and some surbs here.
Does anyone have any insights to share on Columbus or Atlanta rental market? I am looking into turnkey rentals there. I am not sure where to start such as turnkey company recommendations? areas to look into? Any feedback is appreciated!
Hi there, let’s connect. I can give you a run down of Atlanta and some surbs here.
Thank you! I'll PM you :)
Hey @Yin Wu, I'm an investor in a city about 45 minutes north of Columbus.
Columbus is tricky in my opinion and I feel as if growth is moving towards the outskirts. I'd look at Delaware, Pataskala, Dublin, Grove City, Westerville, Pickerington, or Hilard. There's a ton of economic growth, new home, and commercial construction going on around there.
Thank you! I'll look into those markets you mentioned!
I grew up in Atlanta, I love it there! I can see why it peaks yours interest. What makes you curious to invest in ATL? From my understanding, it seems ATL may be a more difficult market to enter for solid cashflow. I have had success with great cash flow and appreciation in states west of Georgia like Alabama, TN, Arkansas, OKC and Texas. Best of luck in all your investment goals!
I've been in Birmingham market since 2019. The numbers start falling and I am trying to look for a new market. I am also trying not to do major rehab other than a rent-ready. I am often afraid without boots on the ground, rehab might get out of control.
I did look into OKC as well, but not sure if the market is diverse enough in terms of job opportunities.
Thank you for your insights!
Hey @Yin Wu, welcome to the BP community!
While I am not an expert on the Columbus market, I can tell you that if you're hoping for cash flow from a turnkey, on-market purchase, Atlanta is not the place to look. Being arguably the hottest market in the U.S. from a combination of investor & homebuyer activity, Atlanta home values have outpaced rent quite a bit. This isn't to say rents aren't going up - they definitely are - just not enough to keep pace with home values. I welcome others more familiar with the outskirt counties to correct me, but I believe this is the case for the entire MSA. Cash flow just does not exist here when purchasing on-market, turnkey properties.
That's the bad news. The good news is that if you're purchasing for long-term appreciation, Atlanta is definitely the market to look in. Also, if you're okay with getting creative and working hard, there are still opportunities to cash flow here. But, it won't be easy.
Hope this helps a bit. Please, feel free to reach out anytime if you have other questions or just want to chat!
Great information! Thank you!
If you're already in Alabama..have you considered Montgomery? Same proximity as Atlanta and Columbus. Atlanta will be tough to cashflow and Columbus may not have the investor savvy infrastructure you're looking for. Have a great wholesaler in Montgomery..if you're interested. Best of luck house hunting?
@Yin Wu
In what regards was your numbers falling? I would recommend maybe buying a new build or using a turnkey provider. It is all about trusting the team around you when investing out of state. It sounds like you are aware of this already! I like in OKC market because 25% of population government and military workers that provide reliable residents.
In what regards was your numbers falling? I would recommend maybe buying a new build or using a turnkey provider. It is all about trusting the team around you when investing out of state. It sounds like you are aware of this already! I like in OKC market because 25% of population government and military workers that provide reliable residents.
I am working with a turnkey provider in Birmingham and have acquired 6 properties through them. The ROI has dropped from 8% to 5%. In addition, I am also thinking to diverse my portfolio by entering different markets. Are you concerned that OKC job market seems heavily relying on oil industry?
If you're already in Alabama..have you considered Montgomery? Same proximity as Atlanta and Columbus. Atlanta will be tough to cashflow and Columbus may not have the investor savvy infrastructure you're looking for. Have a great wholesaler in Montgomery..if you're interested. Best of luck house hunting?
I am happy to connect with any fellow investors :) However, I am trying to steer away from major rehab other than a basic rent-ready. I don't have boots on the ground for rehab. It is also an internal fear thing :)
@Yin Wu Don't let out of state rehabs scare you. You just need the right people on the ground! "Who not how". I'm done two out of state brrrr's and im about to finish my first out of state flip (2 in tulsa, one in OKC).
Its possible! Good luck on your journey and keep us all updated.
We buy and hold SFRs, primarily south of Atlanta. In '17 and '18 we spent a lot of time evaluating markets around the Atlanta metro. We were primarily looking for cash-flow because we don't like being dependent on appreciation. If you're a believer in the "percent rule" (whether it be 1% or 2%), Atlanta doesn't even register, while 1-2% is very achievable in some of the surrounding areas (to get our homes a little closer together we recently sold an SFR, fully renovated with new roof, and it met the 1% rule on the sale price).
In our analysis a couple of years ago, our "finalists" were Albany, Columbus, Macon and Covington. We decided to stay more to the east and focus along the I-75 corridor for a variety of reasons, one being the massive expansion at the Savannah port. We've been very happy with that decision, but I believe there is still plenty of opportunity in Columbus, with the right property and the right property manager. "Turnkey" makes me a little nervous - we renovate our properties with the intention of renting with minimal maintenance, but I'm not sure turnkey operators do the same. A poorly renovated property, or a disengaged property manager, will make for a very unpleasant experience.
I'd be happy to share more about our selected markets if you would like to connect offline.
@Yin Wu
Im sorry to hear your ROI dropped on your properties. Did they have to lower rent when getting a new resident? Or is that for current inventory?
The OKC job market is supported partially by the oil industry, which will still be relevant for the next 10-20 years. However, the natural gas and wind power industries are continuing to grow. As well as the large concentration of aviation and aerospace companies. It's location makes in a great spot for transportation & logistics as well.
Are you mostly intersted in cashflow or is appreciation intriguing to you?
I'd look into Philadelphia. Properties close to Penn, Drexler U are still quite affordable and can be rented in days. Cash flow is good too. I just closed a deal, walking distance to Penn and Drexler, last October, cash flowing at almost 8%. Philly is such as historical and vibrant city too. Best thing is West Philly is gentrifying everyday.
I'd rather find a city where gentrification is happening than a small nice/ quiet city where nothing is happening.
@Yin Wu
Im sorry to hear your ROI dropped on your properties. Did they have to lower rent when getting a new resident? Or is that for current inventory?
The OKC job market is supported partially by the oil industry, which will still be relevant for the next 10-20 years. However, the natural gas and wind power industries are continuing to grow. As well as the large concentration of aviation and aerospace companies. It's location makes in a great spot for transportation & logistics as well.
Are you mostly intersted in cashflow or is appreciation intriguing to you?
I have hard time to find new inventories that provide ideal ROI in the markets I am in now. I am mainly focusing on cashflow. Appreciation will be a nice bonus.
Thank you for the insights on OKC. I've been interested in that market as well and spoke with a turnkey provider/property manager in the area.
We buy and hold SFRs, primarily south of Atlanta. In '17 and '18 we spent a lot of time evaluating markets around the Atlanta metro. We were primarily looking for cash-flow because we don't like being dependent on appreciation. If you're a believer in the "percent rule" (whether it be 1% or 2%), Atlanta doesn't even register, while 1-2% is very achievable in some of the surrounding areas (to get our homes a little closer together we recently sold an SFR, fully renovated with new roof, and it met the 1% rule on the sale price).
In our analysis a couple of years ago, our "finalists" were Albany, Columbus, Macon and Covington. We decided to stay more to the east and focus along the I-75 corridor for a variety of reasons, one being the massive expansion at the Savannah port. We've been very happy with that decision, but I believe there is still plenty of opportunity in Columbus, with the right property and the right property manager. "Turnkey" makes me a little nervous - we renovate our properties with the intention of renting with minimal maintenance, but I'm not sure turnkey operators do the same. A poorly renovated property, or a disengaged property manager, will make for a very unpleasant experience.
I'd be happy to share more about our selected markets if you would like to connect offline.
Thank you very much! I completely agree with you that the property manager is the cornerstone piece for the success. I'd love to connect. I'll PM you.
I'm currently selling my 3 Birmingham properties and cashing out as well.
I'm selling everything but my Atlanta house.
We buy and hold SFRs, primarily south of Atlanta. In '17 and '18 we spent a lot of time evaluating markets around the Atlanta metro. We were primarily looking for cash-flow because we don't like being dependent on appreciation. If you're a believer in the "percent rule" (whether it be 1% or 2%), Atlanta doesn't even register, while 1-2% is very achievable in some of the surrounding areas (to get our homes a little closer together we recently sold an SFR, fully renovated with new roof, and it met the 1% rule on the sale price).
In our analysis a couple of years ago, our "finalists" were Albany, Columbus, Macon and Covington. We decided to stay more to the east and focus along the I-75 corridor for a variety of reasons, one being the massive expansion at the Savannah port. We've been very happy with that decision, but I believe there is still plenty of opportunity in Columbus, with the right property and the right property manager. "Turnkey" makes me a little nervous - we renovate our properties with the intention of renting with minimal maintenance, but I'm not sure turnkey operators do the same. A poorly renovated property, or a disengaged property manager, will make for a very unpleasant experience.
I'd be happy to share more about our selected markets if you would like to connect offline.
@Account Closed. I can’t help with a property manager recommendation. We believe that with affordable housing we are better at maximizing and protecting our assets than a property manager would be.
@Yin Wu - I've invested in Columbus since 2008. From a high level, it's a great cash flow market but the con is the lack of appreciation. I host a monthly Real Estate call with local and out-of-state investors to discuss happenings in the market and would be glad to add you.
Please PM me for more details.
@Yin Wu sorry to hear your experiences in Birmingham aren't as great as they used to be. Is that due to maintenance issues, tenant issues, combination? I'm curious how you settled on Columbus and Atlanta in specific. They are very different markets with arguably different strategies to be successful.
If you have some appreciation in your Birmingham properties, have you thought about 1031 exchanging into markets with a higher likelihood of appreciation? For example, I had properties in several states, and those that had appreciated I 1031 exchanged into properties in Huntsville, Alabama and Cape Coral Florida which are both very desirable areas with good cash flow and a strong likelihood of continued appreciation.