Rome,GA SFR rental insights needed

[David Cox]

My wife and I are considering purchasing some rental homes in Rome GA. We would be using a self directed IRA to fund these and using a property management service. Does anyone in the BP community have any insights in the Rome GA rental market and any recommendations on property management companies. Your input is appreciated.

[Jeff Kehl]

@David Cox if you look back at my prior post you'll see that I am probably the biggest cheerleader on here for Rome, GA. I live and invest here and have for 10 years now.

I like the fact that we are just an hour from downtown Atlanta if traffic cooperates but the prices here have not run-up like they have in many areas around Atlanta because we're off 75. 

I also think we have been a bit of a hidden secret in that we have a historic downtown with great shopping and restaurants, mountains, rivers and hiking trails.

We also have a decent economic base. Further east of us like Calhoun and Dalton, while right on 75, they are heavily dependent on the flooring industry which gets hit hard in a recession (just look at their unemployment rates in 2008-2012).

Rome also got hit hard during that time but not as bad because we have 4 colleges and universities and 2 major hospitals. Also, there's a lot of specialty manufacturing here mainly European and Asian companies that they have done a good job of recruiting.

To be fair, I am majorly biased because I own over 200 rental units in the area. I am also slowly selling off some of my sfrs and smaller properties right now because although they are good investments the numbers are not nearly as good as in the past and I am trying to move into only apartments and other large properties.

There are some great property managers here but it can be hard to find decent contractors for a reasonable price. If you want some recommendations pm me.