Good morning all! My family and I are moving to Atlanta next summer and are planning on purchasing a property to live-in flip while we get acclimated with the area. The goal is to place tenants in the property and then buy our primary residence once we’re more familiar with the city. In reaching out because we're having a hard time navigating the rental markets in Atlanta neighborhoods from out of state. We are looking for a property that cash flows at a purchase price at or under $250K in a safe neighborhood. We would prefer to be ITP but are flexible and are comfortable with transitioning neighborhoods that have appreciation potential. Can anyone tell me what areas of the city we should be focusing on for that price range? Any information about the Atlanta rental market, in general, is appreciated. Thank you.
no input, but interested in this topic as well.
I recently moved East of Atlanta in Gwinnett county. The schools here are some of the best in the state. If you’re looking for properties in A neighborhoods, i recommend Gwinnett county east of highway 316. Most people in my area own rather than rent though. It’s like 90% own and 10% rent. I’m still getting familiar with all the other counties as I’m fairly new to the state myself.
@Rebecca Hundere If your interest is ITP for under $250k but in a decent neighborhood I would say Decatur, Chamblee, or Tucker. Of course there is a lot to consider in terms of condition of the property, square footage, rents, etc. These are all good areas to live in and Decatur (30032) is one of the best areas in Atlanta to invest. Rents everywhere in the city are up and you can get some great rental rates in those areas. Hope this at least gives you a little something to get started.
Thank you both for the input. Are the properties you've bought in 30032 generally rent ready or did you rehab them?
@Rebecca Hundere The company I work for buys and sells distressed properties and we have purchased a lot in 30032 and they all needed rehabbing but that is all we are looking for.
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