New Investor in Cobb County (Atlanta, GA)!

New Investor in Cobb County (Atlanta, GA)!

Amr OmarPro Member
Real Estate Agent · Dallas, TX · Member since 2016 · 23 posts · 11 votes

Hey Everyone,

Already overloaded by the amount of resources and info on the forums! I just started listening to the BP podcasts and have been reading about real estate investing for some time now and am ready to take the leap now! Looking to get into flipping as well as buy and hold in Cobb County with the ultimate goal of acquiring 10 rental properties.

I'm a Chemical Engineer by study and have recently transitioned to a Sourcing Analyst role over the past year and really enjoy what I do now. Looking to take advantage of the 50-60 hr/week analytics and spreadsheets overloading and incorporate that here. Also working on acquiring my real estate sales license to help with researching and finding deals.

Looking forward to connecting, learning, and helping as needed!

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Investor · Taylorsville, GA · Member since 2014 · 352 posts · 540 votes
10y

Welcome to BP @Amr Omar! I'm in Cobb County also, in Kennesaw. There's a BP meet up Monday, April 25th in Kennesaw - if you're able, be sure to attend. Here is the info:

http://www.meetup.com/NW-Atlanta-REI-Meet-Up/event...

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  • Real Estate Agent · Marietta, GA · Member since 2015 · 33 posts · 4 votes
    10y

    Hey, we should definitely connect!  I'm an agent in the Atlanta area and would be happy to help you secure any deals before you're officially licensed!

  • Investor · Taylorsville, GA · Member since 2014 · 352 posts · 540 votes
    10y

    Welcome to BP @Amr Omar! I'm in Cobb County also, in Kennesaw. There's a BP meet up Monday, April 25th in Kennesaw - if you're able, be sure to attend. Here is the info:

    http://www.meetup.com/NW-Atlanta-REI-Meet-Up/event...

  • Amr OmarPro Member
    OP
    Real Estate Agent · Dallas, TX · Member since 2016 · 23 posts · 11 votes
    10y

    Thanks guys!

    @Julie Kern, wow, perfect timing! I'll plan to be there!

  • Wholesaler/ Investor · Houston, TX · Member since 2014 · 491 posts · 113 votes
    10y

    Welcome to BP @Amr Omar

  • Real Estate Agent · Austell, GA · Member since 2014 · 232 posts · 74 votes
    10y

    Welcome, and good luck with your journey!

  • Rental Property Investor · Atlanta, GA · Member since 2016 · 58 posts · 13 votes
    10y

    hey welcome to BP!! @Amr Omar, I'm also in cobb county, good luck to you.

  • Investor · King of Prussia, PA · Member since 2014 · 1k+ posts · 339 votes
    10y

    @Amr Omar welcome to BP! Continue educating yourself on real estate investing via the podcasts & books on real estate investing. Find a niche that you like and master it. Ask questions on BP and network! Best of luck!

  • Flipper/Rehabber · Atlanta, GA · Member since 2009 · 352 posts · 25 votes
    10y

    Hi Amr I'm a wholesaler here in GA and absolutely love Cobb County! Let's connect and I will add you to my buyer list so you can get first dibs on all my Cobb properties.

  • Powder Springs, GA · Member since 2015 · 11 posts · 1 vote
    10y

    Welcome to BP great resource and community here. I am a new flipper as well also in Cobb would love to connect 

  • Professional · Marietta, GA · Member since 2015 · 27 posts · 6 votes
    10y

    @Amr Omar

    Welcome to BP.  I am also in Cobb County.  I'll be at the meet up on Monday so hopefully, I'll see you there. 

  • Amr OmarPro Member
    OP
    Real Estate Agent · Dallas, TX · Member since 2016 · 23 posts · 11 votes
    10y

    Thanks everyone for the warm welcomes!

    Unfortunately, I overlooked that I'm going to be in LA visiting family on the 25th and won't be able to make it to the meetup :/

    @Christian Driver, @Julie Kern, @Allen Thomas, @Comfort S., I'd love to meet up and connect with you all individually as well! I currently work 5 minutes away from Marietta Square and would be down for lunch anytime.

  • Flipper/Rehabber · Acworth, GA · Member since 2014 · 246 posts · 92 votes
    10y

    Are you looking to rehab, wholesale, or hold rental property? You also mentioned getting your sales license. Why do you want to do that? 

  • Amr OmarPro Member
    OP
    Real Estate Agent · Dallas, TX · Member since 2016 · 23 posts · 11 votes
    10y

    Hey @Parker Stiles!

    My ultimate goal is to hold rental property, however use rehabbing as a tool to help support that by bringing in the extra income. My father-in-law is an investor in Gwinnett and has been both rehabbing and renting over the past 10 years. I'll be working for him (not to mention learning from him too) by acquiring properties to flip in Cobb, whether that be through the auctions, FMLS, or via wholesalers. We're looking to acquire and flip 3 - 5 properties each year.

    My goal is to acquire 10 SFR rental properties in the area by 2023. Would like for them to be priced in the 100 - 140k price range and rent from 1k - 1.4k/mo range. These are also the same characteristics we look for in a flip (minus the rent of course).

    I'm not looking to be an active listing agent, however I'm looking to acquire my sales license for 3 reasons:

    (1) Access to the FMLS.

    (2) A good learning tool to learn more of the legal, financial and regulatory aspects of real estate.

    (3) When we're in a seller's market and with a few more years of experience, the ability to list properties independently.

    Would be open to any and all feedback :)

  • Flipper/Rehabber · Acworth, GA · Member since 2014 · 246 posts · 92 votes
    10y

    Give me a ring real quick. 706 two five five 48 eight three. @Amr Omar

  • Amr OmarPro Member
    OP
    Real Estate Agent · Dallas, TX · Member since 2016 · 23 posts · 11 votes
    10y

    This n00b just got a good 40 minute education on the Atlanta market!

    New target properties for rentals:

    Pricing: < 140K all-in

    Cash-on-Cash Return: 10% (based on 60% of gross yearly rent)

    For rehabs & flips: Anything under the 140K price range

    Shout out to @Parker Stiles for an awesome discussion just now!

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