Atlanta, GA · Member since 2015 · 3 posts · 0 votes
Hi all,
I am real estate enthusiast here to learn from the experienced - everything, from how to get started to how to continue doing it right. I am currently trying to decide the right city to begin RE investments in. I live in Atlanta, GA; but am not keen on starting in Atlanta, if there are better options. My job is transferrable, and I'd rather move to a city where my investment prospects are greater.
How do I go about choosing the right city and what data sources do I take advantage of in making this decisions? Further, what data should I really be looking at to make the right decision? If there are reliable sources/research available, kindly guide me or direct me. Thanks.
My investment goals are to buy rental properties and would personally prefer a bigger city in the warmer climates, with a diverse population and good job market.
Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
10y
Hey Harsha! I don't blame you for not wanting to buy in Atlanta. All of my properties are in Atlanta, and I bought at a great time, but I no longer advocate buying there unless someone is local there and really wanting to invest locally.
Are you planning on moving somewhere just for the sake of being able to invest there? That changes the game a lot...you don't want to move somewhere of course that you hate just for the sake of being able to invest there. I live in LA and never want to move away from here, but I don't want to invest here...so I just invest from afar in other states.
Let me know if you definitely want to move to where you invest and I can make some suggestions. If you aren't setting on moving there, I can tell you other ideas for markets. Only difference being....well, I guess I don't know your detailed living preferences to assume where you would or wouldn't want to live, but in general wanting somewhere you'd be happy living could certainly sway things.
Atlanta, GA · Member since 2015 · 3 posts · 0 votes
10y
Thanks @Joe and @Ali.
@Ali : To answer your question, I am considering moving from Atlanta anyway and figured I rather move to a place where the investment prospects are better. You are certainly right choosing to move to a place where they'd love to live. Few preferences that would bring joy to me are - a place that does not have much snow, if any; a place that is green with a lot of trees, and a place that has a large job market since I do want to continue my full time career for the next few years until I know how I fare in generating cash flow, and lastly would also prefer a city that has a diverse population. Atlanta fits the bill on most of those things, but am not sure that its a great place for investments. That said, if experienced investors here can correct me saying Atlanta is a good option, then I can reconsider.
Am sure cities like LA or SFO fit the bill too; but personally, like most, I find it too expensive to live and/or invest; and so am not considering moving to CA or anywhere Northeast.
Please do suggest any cities you may have in mind.