New Member in Atlanta, Georgia

New Member Introductions
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New Member in Atlanta, Georgia

Christopher Costa
Atlanta, GA · Member since 2018 · 16 posts · 6 votes

Hello All,

My name is Christopher Costa. I am a recent graduate of Georgia Tech, here in Atlanta and I am currently working as a Product Engineer at a biotech company. I am originally from suburb outside of Atlanta, but have been living in the city since starting college. I am very interested in using real estate as an investment vehicle and I want to get started early. My main interest in real estate is in renting and holding properties. I am looking to start in the Atlanta area and then move outward to some of the suburbs/metro-area. I have no prior experience in real estate, but I have some knowledge through various books I have read. My goal right now is to pay off my student loans over the next 6-8 months, then start investing in single-family or small multi-family properties. My long term goal is to have enough income from my investments to cover my cost of living and be financially free.

I found out about Bigger Pockets through my growing interest in real estate and investing in general. I wanted to supplement my reading with other sources of information, which lead me to the Bigger Pockets podcast. After listening to a few podcasts, I decided to check out the forums and here we are!

I look forward to meeting some new people, making connections, learning about real estate, and answering questions.

Christopher

3Reply
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Most Popular Reply

Benjamin Benomar
Atlanta, GA · Member since 2018 · 12 posts · 3 votes
8y

Welcome, great to see a fellow GT grad in the forums!

2Reply
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  • Benjamin Benomar
    Atlanta, GA · Member since 2018 · 12 posts · 3 votes
    8y

    Welcome, great to see a fellow GT grad in the forums!

    2Reply
  • Christopher Costa
    OP
    Atlanta, GA · Member since 2018 · 16 posts · 6 votes
    8y

    Thank you Benjamin. Good to know there are some of us on here!

    0Reply
  • Michael Ehmann
    Rental Property Investor · Atlanta, GA · Member since 2017 · 126 posts · 110 votes
    8y

    Go Jackets! I got out with my B.S. Industrial Engineering in 2015. I'm getting ready to close on my first 2 deals, also partnering with a few friends from Tech who graduated around the same time. Atlanta has gotten pretty competitive (as has much of the country from what I can tell), but there are still deals if you look hard enough. 

    Sounds like you're already off to a great start by planning to pay off your student loans in 6-8 months. Your W-2 income is going to be a huge asset and make it way easier to qualify for loans whenever you get ready to pull the trigger. 

    Glad to hear you're already listening to the podcast. It's a fantastic resource. If you haven't already found them, I'd also recommend the BiggerPockets Money podcast and ChooseFI. Both are focused more on personal finance and financial independence, but they'll discuss some real estate specific topics from time to time. Both podcasts have greatly impacted my mindset on money and financial freedom. 

    If you're interested in networking events, there's a monthly meetup comprised mostly of folks from BP. It will usually meet the last Wednesday of the month, but unfortunately this month's had to be moved a day early, so you just missed it. Definitely check it out in the future though - it's a good community mostly of people who are actual investors or who are just getting started. I've also gone to this meetup called Real Estate Connections. I've only been once a few months ago, but I'll go back in the future (just haven't been able to work it with my schedule). It's $20 and can be a little hit or miss (lots of agents and people trying to sell you stuff), but it certainly can't hurt if you can stomach the cover. 

    Always happy to help a fellow Tech alum, so let me know if you'd ever like to connect or if there's anything else I can do for you. Best of luck!

    2Reply
  • Darrell Carter
    Atlanta, GA · Member since 2016 · 10 posts · 3 votes
    8y
    Hello Chris , I am new to the Atlanta Area , and I am also new to real estate investing ... I have signed up for Various Real estate investment groups in the areas and look forward to meeting fellow investors ... I have read several books and watched tons of videos and I’m finally going to be making my first purchase within the next 6 months .... if your interested we can go to some REI meetings together and help one another on anylyzing properties , etc ... that way we are more comfortable when the actual time comes
    0Reply
  • Christopher Costa
    OP
    Atlanta, GA · Member since 2018 · 16 posts · 6 votes
    8y

    Michael, 

    Im glad to see more GT alum on here. I am pretty familiar with all the areas around Atlanta so I too have noticed it being very competitive. It seems some of the best deals will be remodeling up-and-coming areas like Vine City. I just don't know if thats how I want to start in it. I will definitely look into the two podcasts you mentioned. I was looking for more personal finance resources; currently I also listen to Stacking Benjamins for that. I will definitely try to go to the next BP meetup. I saw that one going on this week, but couldn't make it for various reasons.

    I appreciate the welcome and would definitely like to connect up.

    Christopher

    1Reply
  • Christopher Costa
    OP
    Atlanta, GA · Member since 2018 · 16 posts · 6 votes
    8y

    Darrell,

    Glad to have you in Atlanta! Like I said, I have essentially been here my whole life but it is always good to see new people. I would be interested in going to some meetups or REI events. Like Michael said above, there is a monthly meetup for Atlanta. I am planning on going to the August one. Hope to see you there!

    Good luck with your first purchase too!

    Christopher

    0Reply
  • Angeline Lee
    Atlanta, GA · Member since 2017 · 10 posts · 1 vote
    8y

    Darrell,

     I attended yesterday Bigger Pocket Atlanta meet up and I enjoyed it a lot.  I highly recommend you to join the next meeting in Aug. I would to see more GT people in this team.  Go jacket!. We can all connect there 

    0Reply
  • Richie Choy
    Atlanta, GA · Member since 2017 · 44 posts · 21 votes
    8y

    Welcome! Graduated 2013 in Computer Engineering, also positioning myself to do some REI soon.

    Those gentrifying areas are super enticing, but I am also an ATL suburb native. The thing is I've never been to those areas that used to be undesirable - so there is a lot of research and learning to be done to figure out those areas. If you search the forum history there is a lot of debate that helped me get an introduction of new ITP areas.

    Cheers!

    0Reply
  • Brian DiMaggio
    Atlanta, GA · Member since 2018 · 17 posts · 8 votes
    8y

    Welcome to the exciting world of real estate! I am currently a student at GSU, but last year I bought a home to house-hack in SW Atlanta near the Beltline...really cool stuff happening in this market. I'm a realtor as well, so if you ever just want to learn about the market or take a tour and see some property types, just let me know! I just learned about these Atlanta meetups so I will definitely have to attend. Have fun!

    0Reply
  • Rush Wall
    RE Investor · Newnan, GA · Member since 2015 · 309 posts · 132 votes
    8y
    Christopher Costa welcome. My advice would be to read up on house hacking. Good luck and let me know if I can help in anyway.
    0Reply
  • Seth Deitchman
    GA · Member since 2018 · 19 posts · 6 votes
    8y

    Welcome Christopher!  It is great that you are starting to invest at a young age.  Glad to be a resource.  In the burbs on Metro Atlanta.

    0Reply
  • Christopher Costa
    OP
    Atlanta, GA · Member since 2018 · 16 posts · 6 votes
    8y

    @Rush Wall Thank you. I would appreciate any and all help. I have read up a good deal on real estate investing and house hacking. What books or resources would you recommend? Have you had any luck with duplexes or triplexes in the Decatur area?

    0Reply
  • Christopher Costa
    OP
    Atlanta, GA · Member since 2018 · 16 posts · 6 votes
    8y

    @Brian DiMaggio How is the house-hack going? If you don't mind me asking, how much did you pay? I have been looking around but it seems most duplexes or triplexes are either in the up-and-coming neighborhoods or very expensive. Im not sure I have the experience to jump into an emerging neighborhood yet, but I also don't have the capital to be investing in a high-end property. Hope to see you at a meet up soon!

    0Reply
  • Brian DiMaggio
    Atlanta, GA · Member since 2018 · 17 posts · 8 votes
    8y

    So far so good! I paid $139,000 for my house, I'm only about 7 minutes away from GSU , and 2 minutes from the Beltline and the Lee+White district on the Westside Beltline. My roommate pays $600 and I am letting my brother stay with me at a discounted rate of $150 (he's buried in college debt) So I am breaking even every month instead of making a profit, but it has been sweet not paying rent/mortgage. It's a 3 bedroom 2 bathroom single family home. I wasn't even looking for duplexes or triplexes at the time, but not that I am I see the difficulty. I check daily, and sometimes there are some good ones that pop up in some c+ class neighborhoods. The first week I moved in I definitely felt like I had made a mistake, distant gunshots at night, some abandoned homes, etc. I've been here a year and it's been great, my neighbors are awesome, and I picked a quiet street.

    0Reply
  • Dmitriy Fomichenko
    Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    8y

    @Christopher Costa

    Welcome to the BP family! Great that you joined the site! Here are some recommendations for you:

    Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet
    Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts
    Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing
    Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/

    Wishing you the best!

    0Reply
  • Christopher Costa
    OP
    Atlanta, GA · Member since 2018 · 16 posts · 6 votes
    8y

    @Brian DiMaggio Thats good to hear. It sounds like you are near the Vine City/West End area. Its good to hear positive results from that area. i have definitely been looking over there, but I wasn't sure if that would be the best place to start my investing. How do you think the outlook for those neighborhoods are? I have heard a lot of talk about them being the next Old Fourth Ward or EAV. If thats the case then I would consider investing in those areas before they really explode. I take it many others are doing that too though.

    0Reply
  • Brian DiMaggio
    Atlanta, GA · Member since 2018 · 17 posts · 8 votes
    8y

    @Christopher Costa Yeah! So I am just across the street, South of West End. There are a lot of investors involved in these neighborhoods, but there are still many opportunities. A few years ago, most of these homes were less than $50k, now prices are in between $100-200k. There are teardowns that become available occasionally, and plenty of homes that just need cosmetic work. I follow a lot of the multi-million dollar developments happening around the city and there are a bunch on the Westside. I keep listening to these podcasts hearing of everyone buying multifamily for around $100k, but I don't think Atlanta is that kind of market unless you're aggressive with finding off-market deals.

    1Reply
  • George Blower
    Retirement Accounts Attorney · Southfield, MI · Member since 2017 · 3k+ posts · 1k+ votes
    8y

    @Christopher Costa

    Welcome to Bigger Pockets.

    0Reply
  • Account Closed
    Tax CPA · Charlotte, NC · Member since 2014 · 215 posts · 186 votes
    8y

    @Christopher Costa Welcome to BP! I was in the Kennesaw area for a year. Some great 3/2 neighborhoods at the time. However, prices have definitely gone up since then (2014).

    Some resources I have enjoyed:

    Podcasts

    Episode 108 - Grant Cardone... Just listen…

    Episode 283 Paul Thompson - Quite a new episode but I would think everyone would agree this is a top episode. Mainly, the systems implemented are fascinating (VA, automated offers, etc.) Plus...escape velocity...

    Episode 113 – Jay Papasan - Very practical slow and steady advice

    Episode 221 - Tim Shiner - his concept of equity build up and "shearing the sheep" shows some of the flexibility of real estate vs a 401k

    Last but not least, I also recommend all the tax advice given by my fellow CPAs on the BP Podcast.

    Amanda Han

    Brandon Hall

    Tax Reform Update – Brandon Hall and Amanda Han

    Linda Weygant

    Guides

    Ultimate Beginners Guide

    Forum Stickies

    BP Calculators or spreadsheets uploaded by members

    My Favorite Books

    I have to say all of the BP books…right? :)

    The Millionaire Next Door

    The Millionaire Real Estate Investor

    What Every Investor Needs to Know About Cash Flow

    Hope this information can give you a good start. Feel free to reach out with any questions. 

    2Reply
  • Christopher Costa
    OP
    Atlanta, GA · Member since 2018 · 16 posts · 6 votes
    8y

    @Account Closed Thank you for all the resources. This is fantastic. I will definitely be checking out this over the next few days. I appreciate the help.

    1Reply
  • Jason Huff
    Rental Property Investor · Kennesaw, GA · Member since 2018 · 17 posts · 5 votes
    8y

    @Christopher Costa, welcome.  What biotech company do you work for?  I'm a patent attorney in Midtown, and we do a lot of patent prosecution work for local tech companies in the southeast.  GT is also one of our clients.  

    If you're looking to network soon, there's a meetup at Loca Luna north of Midtown this Thursday at 6pm.  I think Michael Ehmann provided a link above, but you can also navigate in BP to Network -> Events -> Atlanta (the event is Real Estate Connections). I went in June....there were probably 150-200 real estate-related people there.  Unlike Michael's experience, no one tried to sell me anything....but then again, I didn't bother going to the sponsor tables and just mingled instead.

    0Reply
  • Kyle NeffPro Member
    Rental Property Investor · Cincinnati, OH · Member since 2015 · 128 posts · 59 votes
    8y

    Christopher, I am a fellow Atlantan who's getting started in real estate as well. Look forward to hearing your success stories and sharing best practices with you.

    All the best,

    0Reply
  • Vicki Reyzelman
    Investor · Marietta, GA · Member since 2016 · 2 posts · 0 votes
    8y

    I am looking for a recommendation of a great CPA in the Atlanta area? Who do you like working with?

    0Reply
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