I am new to real estate investment and looking to learn as much as possible in a short time. I hope you can help to point me in the right direction. I am looking for house to hold, flip and long term investments. I came to Georgia from New York City because my research shows that the prices for home here is more affordable and the expansion of the population here is creating a great demand/ market for homes.
Hey @Althea Herlock welcome to BiggerPockets! You've definitely come to the right place to learn more about investing. If you haven't yet, be sure to check out the The Ultimate Beginner's Guide to Real Estate Investing and The BiggerPockets Podcast. They are both great at learning the fundamentals.
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See you around the site!
@Althea Herlock - Welcome to the vibrant BP community.
Your objective is to learn as much as possible in a short time, but, I hasten to remind you that REI is not a sprint race, but, a marathon.
Yes, as a New Yorker I clearly understand your logical reasoning for making the transition to Atlanta.
Good luck and best wishes with your REI activities.
Below, are some links that will get you acquainted with buy and hold as well as flip transactions.
Lastly, this site thrives on interactions. As such, we encourage two way exchanges, look forward to educational and thought provoking ideas relevant to REI.
Welcome to the site.
Good luck to you & I'll see you around the forums.
Welcome to Bigger Pockets. It is great to see you hear.
welcome to BP
@Althea Herlock welcome to BP! I moved from NYC to Cincinnati for some of the similar reasons. Good luck with your search on the next purchase!
I just moved here in July.
Everything you say about The Atlanta area is true. However, I am finding Atlanta to be a tough place to find deals, at least now, unless your willing to venture into areas with sketchier tenets and rents under $1K per month. That starts getting outside of my investment parameters. Lots of competition and people willing to pay too much for a distressed property IMHO. At least in the areas I am targeting. I am an all cash buyer too.
If I am missing something someone please chime in.
Sorry, should have brought in
@Althea Herlock - Welcome. I am also in the metro Atlanta area. Good luck.
@Tony Gunter - I am fairly new but I am struggling to find deals in the metro area that I am comfortable with. I have started looking in the suburban/outlying areas up 75 and 85/985. I feel those markets are more in my wheelhouse. The rents won't be as high but cash on cash returns and pricing in general could be better. I am not currently a cash buyer so my levered yield can push into the 20% range or higher on some of the deals I am analyzing. Yet to purchase any though. Still looking.
That is the same areas I am looking more or less. From I-20 up to I-75/575 outside the perimeter. I am of the camp that thinks less than $1K per month makes it hard to cover the Capex over the 10 year time span I plan to hold properties, at least that is what I am shooting for.
I am looking for 3/2/2's in a distressed condition to try to capture some equity when I rehab and then resell into the retail market with another fix up after the 10 year period. So I am looking for houses and neighborhoods a family would want to spend their money in without hesitation. I am finding it easier said than done. I think it is a good plan, but proving to not be too easy to gain momentum on in the present environment. The down side for me is I do have a rather demanding full time job, and a family, so I just don't have the time to scour the country side like I would like to. I am working with a buyer's agent presently mostly working off the MLS, which makes it even tougher. Again, time is a limitation for me.
Welcome to Atlanta, the city that has no deals right now.
Welcome to BiggerPockets. You've joined a site with a wealth of information and help. I'm still rather new to the site, but so far it's been great. Good Luck
Welcome to Bigger Pockets. I discovered BP a while ago but didn't really get involved until recently. I'm sorry I waited so long to "plug in". BP is an awesome resource.
I am a cash flow investor. I have been a landlord since 1982 and I have also flipped a fair numbers of homes over the years.
A couple of years ago I discovered the "paper" side of the real estate investment world. I purchased my first Mortgage Note. I have been actively acquiring Notes for passive cash flow since that time.
I like the the passive nature, the safety and the cash flow that I receive from Performing Mortgage Notes. I still own "brick & mortar" real estate but my end game is to be 100% in paper at some point.
I upgraded to BP Pro & upgraded my profile. Check it out.
@Rick Baggenstoss I've been looking for multi's on the MLS and there's nothing under $300k that's not in a war zone. I'm looking to house hack by buying a duplex or triplex sometime in the next 6-18 months, it's not looking too promising.
Atlanta, the greatest investment market in the south ... with no deals to be had ...
Not a bad plan for later, but paper won't let me practice the BRRRR technique to take advantage of leverage like investing in bricks and mortar will at this point.
I need to find out what BRRRR is. I'm a newbie investor in Atlanta.
@Vincent Crane - I agree with @Rick Baggenstoss . There are some deals. I am looking for small multi's and have found them. I think it all depends on what you are looking for. I am not going to be house hacking so my deals might be slightly different than yours. I am strictly looking for cash flow and cash on cash return. It will definitely be harder to find one inside the perimeter but if you are willing to go north on 75 or 85, the further away you get from the city, the better chance you will have.
Hello @Althea Herlock
Welcome aboard and congrats on the move and welcome to BP. i too came by to ATL from NY. I agree with @Tony Gunter it is a tough place to find deals, however i will say if you stay focus, stay on BP and take action you can find deals.
Always nice to see fellow investors in Atlanta. Good luck growing your portfolio!
Hi @Althea Herlock and welcome to Bigger Pockets. There are plenty of opportunities to grow and learn just by using this site. The blog is fantastic and the forums are top notch. Frankly, BP has been a better local resource for me than the REIA but I would still recommend checking them all out to see what you like.
In terms of what you're looking for @Vincent Crane , @Rick Baggenstoss and @Alex Vela all alluded to the same thing: finding deals is hard. Keep your nose to the grindstone and I'm sure you'll find a deal soon enough!
Welcome to Biggerpockets @Althea Herlock ! Wish you all the success!
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