New Investor in North Atlanta, GA

New Investor in North Atlanta, GA

Smyrna, GA · Member since 2016 · 6 posts · 1 vote

Hello,

I'm Marti and I'm located in Atlanta (Smyrna area) and am just beginning to get my feet wet with real estate knowledge. My goal is to learn as much as I possibly can about rental real estate (primarily buy and hold) in 2017, while saving up for my first property. I'm especially trying to better understand the math behind identifying a profitable property. 

My husband and I live in Smyrna with our pets and are interested in building up some passive income from real estate before we have kids with the hopes that it can help us cut back on 9-5 type work once we have a family. I'm especially interested in the areas of Atlanta that will eventually be part of the Beltline (Pittsburg, Adair Park) in the 10+ year plan, but am also just trying to learn other areas of town that might have a good return ratio. So far - we've been super happy in Smyrna with our primary residence and are loving all of the fun things happening in that part of town as well. 

I'm currently pursuing a Master's to be a clinical mental health counselor and hope to go into private practice when it's completed. During the day, I work for a creative consultancy in Midtown.

Pleasure to meet everyone and be a part of the community!

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  • Michael S.Pro Member
    Biggerpockets Support · Las Pinas, Metro Manila · Member since 2015 · 7k+ posts · 1k+ votes
    9y

    Welcome to Biggerpockets Marti and great to have you here

    BiggerPockets
  • Clayton MobleyPro Member
    Birmingham, AL · Member since 2014 · 875 posts · 947 votes
    9y

    @Marti Munford Welcome to BP! Sounds like you're just getting started on an exciting new adventure, so you've definitely come to the right place! Your first step (which you're already doing) is to just learn as much about your options as possible. Then you'll need to whittle down your options by having a frank discussion with your spouse about what you can realistically handle/accommodate given your: available time, current finances, capacity for debt (credit score, financing options), risk tolerance, and need for control. 

    There's more than one way to invest in rental props. You can do the whole thing yourself (research, buy, rehab, market, manage), assemble a team of people to handle all of those things for you, or some combination of the two. If you want truly passive income, you'll need to go the turnkey route where everything is done for you and you only have to vet one entity (instead of an agent, a contractor, a property manager etc). This is often a great entry point for new investors, or those that work full time/have families. However, as I'm sure you've already read, there are plenty of so-called turnkey providers that aren't exactly doing the niche any favors. This is where you have to do - you guessed it- more research!! That's the tricky thing about passive investing - it's only passive after you cut the check. Prior to that, there's a ton of legwork involved to ensure you find a team you can trust to stand with you for 10+ years and a property that will flow well.

    Since you're just getting your bearings, I'll leave it at that. If you have any questions about turnkey in general, the Birmingham market, or what you should be asking of turnkey providers to ferret out the charlatans, feel free to give me a shout any time.

    Best of luck!

    Clayton

  • Investor · Phoenix, AZ · Member since 2015 · 37 posts · 14 votes
    9y

    Marti-

    You're a busy lady! Welcome to BP! Key to any good real estate investment is buying right. You might want to investigate promissory notes- they give you great passive income at ROIs that are very competitive to rental landlording (performing). Nonperforming notes can beat the typical rental ROIs by a factor of two if the borrowers reperform, or give you an REO,for a 60-75% discount. I love them,and have just got a Birmingham rental done for 16k to rent ready condition with a current value of 40k.

    Fred

    Equityfundingofwashington.com

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