Rental Property Investor · Denver, CO · Member since 2016 · 86 posts · 160 votes
BiggerPockets! I'm working on building a landing page for Georgia and the city of Atlanta. Would anyone be willing to share why you choose to invest in the state and/or the city? What makes your state and the city of Atlanta so wonderful for investors?
Smyrna Property purchased in 2014 at 315K, 4b3.5b. Was my primary home. rented out early 2019 for 2600 per month. I've put down 50% so monthly cash flow around $600.
Woodstock Property purchased in 2017 at 150K, 3b2b as investment. Put in 6K to make it look nice(new paint, new floor). Current rent at $1435. I also put down around 50% so monthly cash flow around $835.
Powder Springs Property purchased in 2018 at 150K, 3b2b as investment, but I felt in love with the big flat yard and country living so we downsized and move here. Put down 25%.
Powder Springs Property 2 purchased in 2019 at 160K, 3b2b as investment. Put down 20%. Did nothing. Turn key property with beautiful new floor and paint. Current rent at $1350. Monthly cash flow around $400.
PS: Closed another house this month for a client of mine right by my first Woodstock house. (on the same block.) Similar size but without a garage. It's $182K now. So $32K increase in price in 3 years. I think it's pretty steady!
I invest in Atlanta and surrounding areas because I live here. Easy to manage. Also, still good cash flow with stead appreciation. I can share the number if needed.
Smyrna Property purchased in 2014 at 315K, 4b3.5b. Was my primary home. rented out early 2019 for 2600 per month. I've put down 50% so monthly cash flow around $600.
Woodstock Property purchased in 2017 at 150K, 3b2b as investment. Put in 6K to make it look nice(new paint, new floor). Current rent at $1435. I also put down around 50% so monthly cash flow around $835.
Powder Springs Property purchased in 2018 at 150K, 3b2b as investment, but I felt in love with the big flat yard and country living so we downsized and move here. Put down 25%.
Powder Springs Property 2 purchased in 2019 at 160K, 3b2b as investment. Put down 20%. Did nothing. Turn key property with beautiful new floor and paint. Current rent at $1350. Monthly cash flow around $400.
PS: Closed another house this month for a client of mine right by my first Woodstock house. (on the same block.) Similar size but without a garage. It's $182K now. So $32K increase in price in 3 years. I think it's pretty steady!
@Lauren Hogan - Between the massive growth, exemplary corporate presence, predictable sprawl, affordable cost of living, and growing attraction from Chinese investors, Atlanta is just starting out. Not to mention Georgia Tech attracts both high salaried talent as well as well funded technology companies, which is predicted to grow even more. Oh, and also the massive incentives which have been successfully attracting the film industry!
@Jingru Sui let’s connect I live in acworth and I am building my first rental property in Cartersville and close late Jan. Then I’ll be wanting to buy #2 and #3 soon after that but unsure whether to stick around metro atl or go out of state.
@Jingru Sui Hello I live in powder springs and I’m in architect. I’m looking for land to build new construction. I would love to connect to exchange ideas.
Investing in and around Warner Robins right now. affordability is the big reason right now. I can buy 3 properties and cash flow over $250 ($750 total) vs. 1 property at $250 cash flow in my area. I also like that it is near the AF base and can work with military personnel.
Affordable entry level, good cap rates, strong growth, minimal regulation, medium to low taxes. I live here and have been investing for 18 years. Geography is also easy to digest, Atlanta is the driver, big and urban, a few smaller cities, lots of burbs. Everytime I worry Atlanta is getting overheated, I compare it to some other markets and it seems reasonable.
Since this thread was recently reborn, I'm curious to see if anyone has any examples from 2020/2021 since the market has changed a good bit since pre-COVID. I have several but they are not your typical rental. Myself and my clients have had to get creative to avoid the frenzy of the current market. Here are a few recent examples:
November 2020: Tucker Househack SFR w/in-law suite. Other side covers PITI and it'll cash flow well after moving out.
June 2021: Stone Mountain Padsplit SFR grossing $4-5k/mo (too early to get an exact number), Projected CoC of 16%
July 2021: Lithonia Padsplit SFR, projected CoC of 15%
August 2021: Stone Mountain Padsplit SFR, projected CoC of 15%
There's no doubt Atlanta (and most of the U.S.) is tough for smaller investors right now but there are definitely still folks making it happen. Anyone else have some recent ATL deals to add?
@Kirk Catt How are rents looking in the Warner Robins area? I know it is located near a military base, do you mainly have military tenants for the market?
Newbie investor here who wants to learn more about the Georgia market post-Covid. I’m in Dallas, GA about 40 minutes west of Atlanta. What have you all been seeing as far as the market in Georgia post-Covid?