Chicago, IL · Member since 2017 · 32 posts · 9 votes
Hi there!
I'm an Illinois resident looking to do some out-of-state buy-and-hold investing, and the Atlanta metro area looks pretty interesting to me. My strategy (at this point) is to look at areas within an hour of downtown and see if I can find something that looks appealing. I'm looking at places < $200k. Any recommendations of where to look and/or people of interest (property managers, real estate agents, other investors, etc.) that I should consider? So far I've looked into the Kennesaw/Acworth/Marietta area which seems to fit the bill--anyone have any experience there? I've also heard from a friend who used to live in Atlanta that I should look into the Buckhead/Lenox area or Midtown as well.
Rental Property Investor · Clarkston, GA · Member since 2012 · 2k+ posts · 1k+ votes
9y
Hi MIchael, I';ve put all my tips into my talk, buying a bullet proof portfolio, down on the right off my profile.
If in a room of experts and you ask what do they do and where, my tip is do the opposite. Yup don't follow the crowd else you'll be competing with a room full of experts! LOL not funny but huge tip few realize the importance.
Follow jobs. Where are the jobs going thats where real estate will go up. see my paper off my profile.
Rental Property Investor · Clarkston, GA · Member since 2012 · 2k+ posts · 1k+ votes
9y
Hi MIchael, I';ve put all my tips into my talk, buying a bullet proof portfolio, down on the right off my profile.
If in a room of experts and you ask what do they do and where, my tip is do the opposite. Yup don't follow the crowd else you'll be competing with a room full of experts! LOL not funny but huge tip few realize the importance.
Follow jobs. Where are the jobs going thats where real estate will go up. see my paper off my profile.
Real Estate Agent · Smyrna, GA · Member since 2014 · 185 posts · 101 votes
9y
@Michael Rosenson Cobb County is great (Kennesaw/Acworth/Marietta) and you investment dollars will stretch more for a recently renovated/move in ready home. Metro Atlanta investors also like Dekalb and Gwinnett Counties. Investors I've worked with over the past few years definitely prefer Fulton, Dekalb, and Cobb counties. If you want to talk in more detail, feel free to PM me
Investor · Marietta, GA · Member since 2016 · 54 posts · 10 votes
9y
Cobb county is doing quite well, as it's where I invest. The stadium has brought a ton of new development, and jobs are being created at a healthy pace. I personally worry that expansion might be going too quickly, though, and I share the same worry as many others about whether all these new luxury apartment complexes are actually getting filled.
Investor · Marietta, GA · Member since 2016 · 54 posts · 10 votes
9y
@Michael Rosenson I just buy SFHs. I'm interested in going into multiplexes though! Actually looking at Cobb County's zoning maps to see where they might allow such buildings.
Investor · Atlanta, GA · Member since 2010 · 10 posts · 4 votes
9y
Hi Michael
Cobb county is a good place to start. Also check into Douglasville & Lithia Springs. These areas hold their values and are impacted little by market down turn. Good school districts, within 45 mins of downtown Atlanta with good land space for families. I'm also from Chicago and have been living here in Cobb County the past 7yrs. Reach out, I'll help where I can.
Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
9y
Hey Michael. So, I'm from Atlanta and all of my investment properties are there. Truthfully, I don't recommend Atlanta anymore for investing. There's just higher returns elsewhere. Chicago happens to be one of those.
Any reason you'd want to buy as far away as Atlanta when there's cash flow options in Chicago and IL in general?
As far as Atlanta goes though...you won't find cash flow in any of the areas you mention. They are all too expensive. Cash flow can really only be found right now around I-20 and south of it (both sides).
Chicago, IL · Member since 2017 · 32 posts · 9 votes
9y
@Ali Boone Thank you for the insight--it's always easy to listen to people who think the same as you, but it's the ones who say something different that are usually the better ones to pay attention to. I was drawn to Atlanta since it seems to be a pretty good hub for some major corporate headquarters, but as I've done some more research I've gotten more aware that I'm probably too late to the party since the market has been hot for a bit now. (Although obviously there's value out there if you know where to look, like anywhere.)
The reason I'm trying to stay away from Chicago/Illinois is (1) the taxes are absurd, and (2) the city's population is declining. Both of these indicate red flags to me, and while I'd love to invest in some properties close to home I don't think it would be worth it given those concerns (again, obviously there are exceptions).
By the way, cool website! I just signed up for your mailing list :)
Rental Property Investor · Clarkston, GA · Member since 2012 · 2k+ posts · 1k+ votes
9y
@Michael Rosenson sounds like you didn't download and read my talk on how to buy a bullet proof rental portfolio?
Never follow the crowd, find your nitch, become the expert.
I had my Johnny Paycheck day a year ago July, I quit my day job following the advice I packaged up in my talk. Every 18 months what works changes, the location changes, the house style that makes money changes.
Why do you think doing the same thing for some extended period of time in a hot market makes money? Allows you to quit your day job?
I strongly recommend folks join all of their local REIAs. The REIAs are where old timers, experienced folks hang who know whats working, the tricks that don;t make it into Guru';s talks or books.
@Michael Rosenson sounds like you didn't download and read my talk on how to buy a bullet proof rental portfolio?
Never follow the crowd, find your nitch, become the expert.
I had my Johnny Paycheck day a year ago July, I quit my day job following the advice I packaged up in my talk. Every 18 months what works changes, the location changes, the house style that makes money changes.
Why do you think doing the same thing for some extended period of time in a hot market makes money? Allows you to quit your day job?
I strongly recommend folks join all of their local REIAs. The REIAs are where old timers, experienced folks hang who know whats working, the tricks that don;t make it into Guru';s talks or books.
Best of luck,. I am happy to help.
Hi Curt, Do you still have the write up or talk you referenced here on your profile? Thanks