Hi Everyone, new to Bigger Pockets but very interested in getting involved in investing, especially down in the West End part of town. Anyone have any luck down there? Trying to decide whether to buy and hold a property, buy and flip or buy and hold a plot of land. Any thoughts/advise would be greatly appreciated.
I have been investing in the West End for 10 years. Due to the Beltline and a lot of publicity home prices are up 400% in that time frame. A patient investor can still make money. Most of the opportunities I see are flips as the yield on rentals are too low based on historic data.
Hi Stan, thanks for the response. Yeah, I've seen prices go up like crazy there but it looks like people are still making money on flips.
The coverage I have found leads me to believe it is still very early in going mainstream. I have spoken to very few women who would feel comfortable living there, but the buzz is strong. I agree it seems to be better for a longer time horizon.
Hi Adam, I thought so too, but I've driven/walked around the area several times and every time I've seen women walking/biking through the neighborhoods alone. A few times I have went is at night too, and it seems like the area is changing, slowly though.
Most of my buyers of homes in West End since 2012 have been single women. Our renter profile is typically female with families.
Do you think the better route is to buy and hold, buy/reno and rent, or buy/reno and sell?
@Jose Cherian only you can really answer what is the better route for you. It really depends on the goals you have for yourself and for your business. There are investors that are implementing each of those strategies right now in SW Atlanta but only you can determine what is right for you.
I also had another question. I have a group of investors that are ready to buy (including myself), but in order to actually renovate a property, we would need more capital. Does anyone have any ideas to get financing? I don't think I can get a normal bank loan since this wont be a primary residence.