I'm an Atlanta newbie looking to get involved

Atlanta, GA · Member since 2017 · 3 posts · 2 votes

Hey everyone, I'm a newbie in the Atlanta market. I've been interested in getting started for a while and now I'm ready to dive in. I'd like to get involved in affordable multifamily rentals as well as try my hand at the BRRRR method. I plan to start attending local meetups. In the meantime, along with looking for my first rental property, I'm looking for other investors who need help. I have experience with construction, renovation, and maintenance both in residential and commercial properties. I've built up quite the collection of tools for maintenance and construction, and have a large vehicle to carry materials. Does anyone need any help or have guidance on how to get started finding properties and making connections in GA?

1 Reply

26 views

Most Popular Reply

Nathan Platter

Real Estate Agent · Minneapolis, MN · Member since 2016 · 361 posts · 296 votes

Hi Robert,

Welcome to the BP community!

One name I've seen doing things in the Atlanta market is Norada Real Estate, they provide Turnkey rentals, so they basically do BRRRRR but sell the property to investors who just want a "finished product" without doing all the sweat equity.

Excited to see what your tools, truck, and effort will produce!

1 Reply

See this reply in the discussion

12 Replies

Jump to latestLatest

Sort by

Nathan Platter
Real Estate Agent · Minneapolis, MN · Member since 2016 · 361 posts · 296 votes
8y
Hi Robert,
Welcome to the BP community!
One name I've seen doing things in the Atlanta market is Norada Real Estate, they provide Turnkey rentals, so they basically do BRRRRR but sell the property to investors who just want a "finished product" without doing all the sweat equity.
Excited to see what your tools, truck, and effort will produce!
1 Reply
Marco Santarelli
Specialist · Orange County, CA · Member since 2008 · 2k+ posts · 623 votes
8y
@Robert Smith — Welcome to BiggerPockets.
As @Nathan Platter mentioned, we’re involved in the Atlanta market. Great market but harder to find distressed inventory today.
Sounds like you want to take an active role as a real estate investor. Great way to go if you have the time. Having some knowledge, experience, and resources will make it infinitely easier; but we all start from the beginning. :)
Good luck, and Continued success!
0 Reply
Denny Faircloth
Real Estate Agent · Alpharetta, GA · Member since 2017 · 85 posts · 30 votes
8y
@Robert Smith - Welcome to BP. As far as making connection, there are a couple of great resources. First, you've already found Bigger Pockets, so good start. The local REIA and subgroups. There is actually 2 different groups. The GaREIA.com and AtlantaREIA.com groups. I'm actually headed to a multi-family subgroup at the GaREIA office this evening. Here is the Meetup link https://www.meetup.com/GaREIA/events/245868746/
As far as finding deals goes, You can buy them from someone like an agent or wholesaler. Or you can go find them yourself, which is an art form in and of itself.
Is there any particular area, geography, price point, deal structure, exit strategy or other factor you are particularly attracted to within the multi-family space?
Congrats and happy hunting!
0 Reply
Stan Sugarman
Investor · Decatur, GA · Member since 2015 · 313 posts · 207 votes
8y
There is actually a 3rd REIA that is AtlantaSouth plus a few unaffiliated meet ups to network at. I would recommend staying away from multifamily in Atlanta right now. The yield on sales is way too low compared to historic averages. There are still some single family deals but you need to hunt them down.
0 Reply
Bill HamptonBusiness Member
Accredited Investment Fiduciary, AIF®, Financial Planner, Tax Strategist, Real Estate Investor · Atlanta, GA · Member since 2012 · 2k+ posts · 977 votes
8y
@Robert Smith,
Welcome to Bigger Pockets and good luck. Let me know if I can be of assistance.
404-482-3170
Hampton Tax and Financial Services LLC4.7106 Reviews
Website View Page
0 Reply
Josh HooperPro Member
Investor · Atlanta, GA · Member since 2016 · 74 posts · 34 votes
8y
@Robert Smith Welcome to BP!
This community and forum is likely the best place to start. I'd say it is time to buckle down and figure out your criteria. Properties are easy to find but unless you know what you are looking for there is too much noise.
Are you looking for 3/1 to 3/2s in specific neighborhoods at a specific price? Are you looking for a light renovation or a full on renovation/addition? Are your end goals to have a large cash flowing portfolio or are you looking for appreciation?
There are so many ways to go and I think you came to the right place, but in order to get started answer some of these fairly basic questions and then forge ahead.
If you came here saying that you were looking to purchase duplexes in Mableton and Austell with the purpose of converting to SFR, there would be a handful of people to talk to. If you are looking to do flips in Decatur market, there are another group of people to link up with there.
You will need to start having relationships with real estate agents and wholesalers to see deals coming through. You could also start a direct mail campaign.
You will also need to start speaking with lenders to figure out what you can do through traditional loans. If that route doesn't work than you may need to look for private money lenders or hard money lenders.
Sounds like you will be doing your own GC work so that is good. Will you also be planning to do your own Property Management work?
Start to narrow down what specifically you are looking for and then start building relationships with those that will help you to meet those goals (real estate agents and lenders).
A lot of this is regurgitated from what others have said previously, but I hope you find it helpful. Best of luck as you start down this path! And rabbit hole!
0 Reply
Robert Smith
OP
Atlanta, GA · Member since 2017 · 3 posts · 2 votes
8y
@Nathan Platter & @Marco Santarelli thanks for the tip, I'll keep them in mind. I've been looking for places that need work and never really considered turnkey properties, but if the numbers work out I'd consider it!
@Denny Faircloth - I'll check out the REIA meetups, maybe I'll see you at a meeting. I've talked to some wholesalers, as a newbie it's hard to validate which ones are legit. I'll have to just stick to the numbers I guess.
As far as location I live in East Atlanta, I was originally looking at single family homes on the westside but when the new section of the beltline opened prices skyrocketed, not to say there aren't any deals left, the market just changed. I'm not tied to any specific neighborhood, I'd like stick somewhat close to where I live but honestly, I'm open to anything up to an hour away for now. Finding a property with owner financing would be ideal but I would think those are hard to come by. I'm mostly attracted to multifamily because it seems more simple from a maintenance and management standpoint, also potentially fewer loans to acquire. I'd be in it for the long haul so no immediate exit strategy.
@Stan Sugarman -Thanks for the tip! I'm interested in single-family too. I figure finding the first property is the most difficult, and I don't expect to make a living off of investing for a long time. Its just time to get started. Maybe I'll see you at AtlantaSouth REIA.
@Bill Hampton- Thanks! I'll check out your site!
@Josh Hooper -You bring up a lot of good points. I need to nail down exactly what I'm looking for. You're exactly right when you call it a rabbit hole. What's your area of focus?
I'd like to do my own GC work. I've been trying to figure out the laws on renovating properties on my own even though I'm not a licensed GC. I'll start by doing my own property management on the first few properties but would consider subbing it out later on down the line.
Thanks to everyone for the responses and tips! It's great to have this community to discuss real estate!
1 Reply
Josh HooperPro Member
Investor · Atlanta, GA · Member since 2016 · 74 posts · 34 votes
8y
@Robert Smith I focus in a couple of markets: Smyrna/Marietta/Mableton, Westview/Adair Park/West End and Decatur/East Atlanta with investors.
I also work with a number of retail clients in the Intown neighborhoods: Midtown to Decatur and up North between 75N and 85N.
From my investing personally, I focus more on smaller markets. I am in the Marietta market. Analyzing a deal for multiple SFR in Macon now, purchased most properties in and around Birmingham, AL.
0 Reply
Tracy R.Pro Member
Investor · Marietta, GA · Member since 2016 · 62 posts · 23 votes
8y
Welcome, @Robert Smith! @Jered Sturm also hosts a great REI meeting the last Tues of the month. You should come to this if you can - lots of great people attend, from total newbies, to seasoned investors who are really "in the game" and have a ton of knowledge they are willing to share. Jered has a great format too, first an educational presentation (no selling) and then plenty of time for genuine networking after that. Here's the link for the next one on 1/30:
https://www.biggerpockets.com/forums/521/topics/39...
hope to see you there!
0 Reply
Robert Smith
OP
Atlanta, GA · Member since 2017 · 3 posts · 2 votes
8y
@Tracy R. Thanks for the tip! I actually already had that on my calendar, maybe I'll see you there!
0 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.