Good time to buy in Atlanta, GA ?

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Good time to buy in Atlanta, GA ?

Daeun Lee
Investor · Los Angeles · Member since 2020 · 11 posts · 5 votes

Hi! I am based in LA but looking into buying rental property in Georgia and I wanted to ask people who are familiar with the market there.

-Is there more people renting or buying in Atlanta or cities nearby?
-Do you think it's better to purchase an apartment unit in downtown or SFH in Duluth area for a rental?

Also I'll be staying in Atlanta for a couple of months, please let me know if there's meet up happening in town! I'd love to connect


Thank you in advance!

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Account Closed
Real Estate Broker · Dulth, GA · Member since 2018 · 11 posts · 11 votes
4y

@Daeun Lee hey man! My team and I do a lot there and with that, SFH is preferred but downtown Duluth has huge upside regardless. Outside the perimeter, Duluth is one of the strongest markets in all of GA.

Shoot me a DM and we can setup a time to chat at length.

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  • Account Closed
    Real Estate Broker · Dulth, GA · Member since 2018 · 11 posts · 11 votes
    4y

    @Daeun Lee hey man! My team and I do a lot there and with that, SFH is preferred but downtown Duluth has huge upside regardless. Outside the perimeter, Duluth is one of the strongest markets in all of GA.

    Shoot me a DM and we can setup a time to chat at length.

    2Reply
  • Canesha Edwards
    Developer · Atlanta, GA · Member since 2014 · 475 posts · 424 votes
    4y

    @Daeun Lee

    Welcome to Atlanta. Atlanta is a great market with a bustling economy.

    Overall more people own be rent in Atlanta but this shouldn’t defer you from looking for a rental property.

    Where you buy depends on your investment strategy, but I don’t recommend buying a condo downtown. Just my opinion though.

    I would love to connect and walk you through the Atlanta area neighborhoods.

    Happy Investing.

    Canesha

    1Reply
  • Daeun Lee
    OP
    Investor · Los Angeles · Member since 2020 · 11 posts · 5 votes
    4y
    Hi Canesha!

    Thanks for the reply. Could I ask why you would not recommend condos in downtown?

    I was looking in to condos thinking there might be more younger people renting spaces in downtown

    Thank you!

    Originally posted by @Canesha Edwards:

    @Daeun Lee

    Welcome to Atlanta. Atlanta is a great market with a bustling economy.

    Overall more people own be rent in Atlanta but this shouldn’t defer you from looking for a rental property.

    Where you buy depends on your investment strategy, but I don’t recommend buying a condo downtown. Just my opinion though.

    I would love to connect and walk you through the Atlanta area neighborhoods.

    Happy Investing.

    Canesha

    0Reply
  • Daeun Lee
    OP
    Investor · Los Angeles · Member since 2020 · 11 posts · 5 votes
    4y
    Thanks for the reply!

    Do you think even the SFH rental market in Duluth is strong? It seems like many people are moving Duluth for work 

    Originally posted by @Account Closed:

    @Daeun Lee hey man! My team and I do a lot there and with that, SFH is preferred but downtown Duluth has huge upside regardless. Outside the perimeter, Duluth is one of the strongest markets in all of GA.

    Shoot me a DM and we can setup a time to chat at length.

    0Reply
  • Account Closed
    Real Estate Broker · Dulth, GA · Member since 2018 · 11 posts · 11 votes
    4y

    @Daeun Lee yes. My partners own rentals in Duluth. It’s a very strong, secure market. The city has invested a ton of money into retail/restaurant/infrastructure.

    Again, OTP, it’s one of, if not the most desired city in the metro.

    0Reply
  • Hieu Bui
    Rental Property Investor · Athens, GA · Member since 2019 · 28 posts · 13 votes
    4y

    I lived in the North/North east suburbs of Atlanta. For sure thriving economy and strong appreciate market (but isn’t crazy appreciation or price like LA NY types). However I wouldn’t expect 1% rule deals unless you have a screaming deal.

    0Reply
  • Eric Michiels
    Flipper/Rehabber · Denver, CO · Member since 2020 · 43 posts · 36 votes
    4y

    I invest in Atlanta and it's a great market. Highly recommended. I'll be in Atlanta first week in December. Shoot me a DM and we can meet. I can also connect you with a wholesaler that's really good.

    Eric

    1Reply
  • Canesha Edwards
    Developer · Atlanta, GA · Member since 2014 · 475 posts · 424 votes
    4y

    @Daeun Lee

    In my opinion, In this market- I think there is more value in the single family home. People don’t have to live in the city anymore and A lot of people are looking for more space.

    Another thing that concerns me is the age of a lot of the condo buildings. Will the owners receive a large bill for work being done to the building?

    That’s just my opinion though.

    Happy Investing!

    Canesha

    0Reply
  • Daeun Lee
    OP
    Investor · Los Angeles · Member since 2020 · 11 posts · 5 votes
    4y

    @Eric Michiels

    Thank you! Will DM soon :)

    0Reply
  • Daeun Lee
    OP
    Investor · Los Angeles · Member since 2020 · 11 posts · 5 votes
    4y

    @Canesha Edwards

    Hmm sounds like I should do some more research on it! I can't wait to be there and feel the market

    Thank you again!

    0Reply
  • Ralph Joseph
    Member since 2021 · 5 posts · 0 votes
    4y

    @Daeun Lee

    Hi I’ll have deals pretty soon may I have you contact information to keep in touch

    0Reply
  • Jingru Sui
    Real Estate Agent · Atlanta, GA · Member since 2014 · 683 posts · 317 votes
    4y
    Originally posted by @Daeun Lee:

    Hi! I am based in LA but looking into buying rental property in Georgia and I wanted to ask people who are familiar with the market there.

    -Is there more people renting or buying in Atlanta or cities nearby?
    -Do you think it's better to purchase an apartment unit in downtown or SFH in Duluth area for a rental?

    Also I'll be staying in Atlanta for a couple of months, please let me know if there's meet up happening in town! I'd love to connect


    Thank you in advance!

    To answer your question, 

    1. Connect with a local realtor they can help you pull some rent vs buy for zip code you are interested.

    2. Duluth SFH win hands down…to make it better, property no hoa will be even better. Be aware of the hoa fee and rental restrictions of rental that you are interested.

    1Reply
  • Angela Stevenson
    Atlanta, GA · Member since 2016 · 5 posts · 1 vote
    4y

    @Ralph Joseph

    Let's connect

    0Reply
  • Ralph Joseph
    Member since 2021 · 5 posts · 0 votes
    4y

    @Angela Stevenson sure what’s your contact info?

    0Reply
  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    4y

    I do commercial not residential. Born and raised in GA 46 years so far. GA is one of the hottest areas for investment in the country. We consistently rank in the top ten for lots of metrics.

    Not a big fan of condo's. You have association rules, the committee might be misappropriating funds, special assessments might be levied, typically you are not the majority owner or controlling declarant. With coronavirus there has been a big movement toward living in the suburbs ( cleaner air, people not living on top of each other, more land, connecting with nature, less traffic than downtown Atlanta ,property taxes usually much cheaper, etc. ).

    You have people still that want to live their but not as many.

    There are about 27 counties in MSA area for GA. Most out of state investors fly into Atlanta and want to invest in about a 1hr drive ring radius with some staying to 30 to 45 minutes. There are good counties here and then other areas that might have high population with people but low income and non-optimal areas to invest. 

    Good Luck

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    1Reply
  • Rick Baggenstoss
    Developer · Decatur, GA · Member since 2011 · 1k+ posts · 1k+ votes
    4y

    @Daeun Lee. Probably the greatest benefit of Atlanta residential real estate is appreciation.  The growth and evolution of the city is driving prices higher.  It is still one of the most affordable big cities in the country, so the big companies keep coming and so do the people.  

    If you buy a condo, you'll do a lot less work but in 10 years, you'll have little appreciation to vs. the sfh you passed up.  Get the single family home where you can afford it.   Skip the condo unless you're going to buy out most of the condo complex.  

    1Reply
  • Daeun Lee
    OP
    Investor · Los Angeles · Member since 2020 · 11 posts · 5 votes
    4y

    @Rick Baggenstoss. Thank you! This is going to be my first rental + OOS investment so I am a bit nervous. It's good that I will have some time to look around in person! I am looking forward to it.

    0Reply
  • Charlie Massey
    Real Estate Broker · Athens, GA · Member since 2020 · 42 posts · 17 votes
    4y

    I am just east of Atlanta, and the growth is insane. One of our counties had to put in a 1 year building moratorium because they are afraid they don’t have enough infrastructure in place for all of the growth. 

    I’d be happy to help if you need anymore info. 

    1Reply
  • Connor Cushman
    Realtor · Cumming, GA · Member since 2018 · 158 posts · 127 votes
    4y

    I do a lot of my agent business in Forsyth County and it's so underrated from an investor standpoint. This area is extremely healthy and attracts great tenants. 

    0Reply
  • Kaustubh Johri
    Investor · Atlanta GA · Member since 2018 · 188 posts · 71 votes
    4y
    Eric - Could you share the details of the wholesaler ? Thanks 


    Originally posted by @Eric Michiels:

    I invest in Atlanta and it's a great market. Highly recommended. I'll be in Atlanta first week in December. Shoot me a DM and we can meet. I can also connect you with a wholesaler that's really good.

    Eric

    0Reply
  • Kaustubh Johri
    Investor · Atlanta GA · Member since 2018 · 188 posts · 71 votes
    4y
    Is it Gwinett county ?


    Originally posted by @Charlie Massey:

    I am just east of Atlanta, and the growth is insane. One of our counties had to put in a 1 year building moratorium because they are afraid they don’t have enough infrastructure in place for all of the growth. 

    I’d be happy to help if you need anymore info. 

    0Reply
  • Kaustubh Johri
    Investor · Atlanta GA · Member since 2018 · 188 posts · 71 votes
    4y

    Definitely, get in touch with a realtor to help you out. 

    Gwinett county has had explosive growth for sure, taxes are high too. 

    Cobb is a good county to be in. Cherokee county (Canton, Woodstock) is seeing a lot of growth as well 

    Paulding county has good schools and is cheaper too. It is poised for appreciation in the future. 

    So you have a few options to work with... Good luck ! 

    0Reply
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