Atlanta, GA · Member since 2018 · 19 posts · 7 votes
Hi! I am looking to buy my first rental property as soon as I can find the right deal. Question for experienced rental property owners out there- is school rating important when it comes to a rental property? Is it a deal breaker or a non issue? What are the pros and cons- and for people that have owned rentals in good AND bad school districts, do you see a difference in cash flow or vacancy rates?
I am coming from the flip world where schools make all the difference. Just wondering if the same rules apply for rentals.
Atlanta, GA · Member since 2018 · 19 posts · 7 votes
7y
@Adam Scheetz YES Augusta has some of the same school problems as ATL.. it sounds like we are on the same page. Equity/ ROI and cash flow are my focus- but I dont want to buy a rental that is hard to rent out simply because of the schools. Maybe I am over thinking this haha
Atlanta, GA · Member since 2018 · 19 posts · 7 votes
7y
@Nick Ferrari that's a great point about hipsters! We are seeing that here in ATL- there is a HUGE "hipster movement" in the in- town neighborhoods that are gentrifying. The houses have gone up 5x in value and the schools are awful. I am focusing more on blue collar neighborhoods.. multiple generations live in one house together, lots of painters/ carpenters etc. live in the area. My biggest concern is having a property sit vacant for 6 months because the school is bad. The feedback that I have gotten is that it doesn't really matter too much- but I still want to be in the best position possible I guess.
Yes, the public schools are not great, poor in places. This has not effected our rentals in the hill area of Augusta to date. The development down town and the growth of the college and jobs coming into the area have increased the potential tenants. They are mostly young, college or working age folks who want to be near the growing downtown area and jobs. We love the area and believe in its prospects for years to come.