New Investor in Atlanta, GA looking for tips/advice

[Rayhan Husain]

Hi Everybody! I am new to the bigger pockets community and want to get started in the real estate investing game and wanted to get advice, tips, and guidance from the community. 

I have been watching bigger pockets, read a few books (rental property investing by Brandon Turner, rich dad poor dad, etc.) and gone down the rabbit hole of the real estate youtubers including Graham Stephen, Meet Kevin, Bigger Pockets, etc. 

I am looking to specifically get into rental property investing. I have cash saved up for a down payment/closing costs, have steady income from a W2 job.  Next step for me is to find a mentor in the Atlanta area that I can pick their brain on and start looking for properties (this market is insane btw so it makes me nervous).

Would love to hear thoughts!

[Canesha Edwards]

@Rayhan Husain

Hello Rayhan-

Welcome to BiggerPockets. The Atlanta market is crazy right now. Home prices are at historical highs. My advice to you would be to look for value. Meaning, find something that needs a little work. I wouldn’t recommend buying anything that’s turn key. Why? Because you’re going to pay a premium price. Since the housing supply is so low, all properties are receiving multiple offers.

Sit down and determine what you’re comfortable spending. Also, don’t be in a rush to buy. A lot of newbies feel like they have to purchase something right away. This isn’t the case. Real estate moves in cycles and right now we’re in a very confusing up cycle. But the market can’t go up forever. I’m not telling you to wait, I’m just recommending you to be patient. Feel free to shoot me a PM to further discuss in detail. I hope this helps.

Best,

Canesha