Investor · Melbourne, Victoria · Member since 2016 · 14 posts · 3 votes
Hello fellow investors,
I'm relatively new to the investing game in the US market, and I am interested in exploring the possibility of investing in the Atlanta Beltline area. I have a couple of questions please;
1) What would I need to look out for (any surprises)?
2) Is it a good long term prospect buying there?
3) Is there a particular spot to focus on?
4) Is it a generally a high demand rental area?
Thanking you all kindly in advance for your insight.
Real Estate Professional · Atlanta, GA · Member since 2016 · 3 posts · 2 votes
9y
Hi Minh, there is a bus tour that you can take around the beltline that helps you see the condition of each neighborhood. My recommendation would be to focus on where it is expanding and not where it already is. For instance, I would probably not invest in Old Fourth Ward anymore, because those home values have already quadrupled and I'm not sure if you could make a decent return on your investment. It is currently expanding from Renyoldstown down to Grant Park and those areas have already seen a big spike. Also, on the Westside, the West End area around Adair Park is supposed to be very affordable still and I think will see the same spike. Hope this helps!!!
Investor · Atlanta, GA · Member since 2013 · 3k+ posts · 3k+ votes
9y
The Beltline is a 22 mile loop and goes through many different neighborhoods, from low income to high income. So, there are no black or white answers for the general Beltline area.
I personally invest in the Pittsburgh neighborhood, but it's not an area that I would recommend to anyone that isn't local and can't manage themselves.
Investor · Melbourne, Victoria · Member since 2016 · 14 posts · 3 votes
9y
Hi Michaela,
Thanks for your advice, that is food for thought.
I'm working with local agents there, so far I am in touch with someone from Keller Williams and Coldwell Banker. You wouldn't recommend a property manager to oversee the rental?
Investor · Atlanta, GA · Member since 2013 · 3k+ posts · 3k+ votes
9y
Not in the neighborhood I'm working in. The rents are too low and PM don't want to work there. Or the few that are working there have pretty big minimums per door, that may cost you 20=30% of your rents.
Investor · Douglasville, GA · Member since 2014 · 40 posts · 10 votes
9y
Hi Minh, I'm familiar with Capitol View, it's a Beltline community. I can get some property management leads for you. How many properties do you have in your portfolio? Let me know what you are looking for.
Real Estate Professional · Atlanta, GA · Member since 2016 · 3 posts · 2 votes
9y
Hi Minh, there is a bus tour that you can take around the beltline that helps you see the condition of each neighborhood. My recommendation would be to focus on where it is expanding and not where it already is. For instance, I would probably not invest in Old Fourth Ward anymore, because those home values have already quadrupled and I'm not sure if you could make a decent return on your investment. It is currently expanding from Renyoldstown down to Grant Park and those areas have already seen a big spike. Also, on the Westside, the West End area around Adair Park is supposed to be very affordable still and I think will see the same spike. Hope this helps!!!
Real Estate Agent · Canton, GA · Member since 2016 · 57 posts · 14 votes
9y
I'm an agent and licensed GC / EC specializing in the Greater Atlanta area. The belt line encompasses everything from $19k burned-out husks to $7million+ estates. Are you looking for cash-flow, fix-and-flips or fix-and-holds? Quite a bit of variety to choose from. Finding a deal on the East side is getting tough - a lot of attention from local, national and even international investors and flippers.
Plenty of deals on the south side, but make sure you're carrying if you're going to look at a new 'opportunity', and the buddy system is a must. I was just looking at a package of 3 homes for just under $100k - same street, design and condition (shells basically). My GC went out and priced the repairs, and estimated a potential $80k+ profit (leveraging bulk purchasing and his efficient crews). I'm not as keen on the west side (College Park to Fulton Industrial) and Airport region unless we're talking commercial. Prices on the north side are past what I find inviting, but a mailer campaign can still result in excellent deals from very motivated sellers.
Multi-Family is hot now and getting hotter. There is a shortage of independent larger multi-family properties - they come up every now and again but anything listed comes at a premium price. Your best bet is working with agents/brokers that are good at finding off-market deals or have a staff (like mine) capable of prospecting and marketing directly to owners.
In any case - feel free to reach out any time if you'd like to pursue things further. I'm more than happy to show you around when you get into town!
Hong Kong, Hong Kong · Member since 2015 · 140 posts · 89 votes
9y
It has been surprising to me that we see many Chinese investors buying houses in Atlanta. To be honest, it is still a bit puzzling to me... Clearly they see good long-term prospects there. They tend to focus only the suburbs north of Atlanta though.
Hi Minh, I'm familiar with Capitol View, it's a Beltline community. I can get some property management leads for you. How many properties do you have in your portfolio? Let me know what you are looking for.
At the moment, I'm looking at buying a good one to begin with as I already have one in Eastpoint, I'm an international investor.
Hi Minh, there is a bus tour that you can take around the beltline that helps you see the condition of each neighborhood. My recommendation would be to focus on where it is expanding and not where it already is. For instance, I would probably not invest in Old Fourth Ward anymore, because those home values have already quadrupled and I'm not sure if you could make a decent return on your investment. It is currently expanding from Renyoldstown down to Grant Park and those areas have already seen a big spike. Also, on the Westside, the West End area around Adair Park is supposed to be very affordable still and I think will see the same spike. Hope this helps!!!
Thanks for replying Britney :-)
Unfortunately I'm not able to take the tour because I'm out of town, from Melbourne, Australia :-(
Thanks for your input, it's valuable info to further my research :-)
It has been surprising to me that we see many Chinese investors buying houses in Atlanta. To be honest, it is still a bit puzzling to me... Clearly they see good long-term prospects there. They tend to focus only the suburbs north of Atlanta though.
Originally I wanted to focus in Las Vegas, but somehow ended up investing in Atlanta, I liked the economics there. Funny as it wasn't my first choice.
I'm an agent and licensed GC / EC specializing in the Greater Atlanta area. The belt line encompasses everything from $19k burned-out husks to $7million+ estates. Are you looking for cash-flow, fix-and-flips or fix-and-holds? Quite a bit of variety to choose from. Finding a deal on the East side is getting tough - a lot of attention from local, national and even international investors and flippers.
Plenty of deals on the south side, but make sure you're carrying if you're going to look at a new 'opportunity', and the buddy system is a must. I was just looking at a package of 3 homes for just under $100k - same street, design and condition (shells basically). My GC went out and priced the repairs, and estimated a potential $80k+ profit (leveraging bulk purchasing and his efficient crews). I'm not as keen on the west side (College Park to Fulton Industrial) and Airport region unless we're talking commercial. Prices on the north side are past what I find inviting, but a mailer campaign can still result in excellent deals from very motivated sellers.
Multi-Family is hot now and getting hotter. There is a shortage of independent larger multi-family properties - they come up every now and again but anything listed comes at a premium price. Your best bet is working with agents/brokers that are good at finding off-market deals or have a staff (like mine) capable of prospecting and marketing directly to owners.
In any case - feel free to reach out any time if you'd like to pursue things further. I'm more than happy to show you around when you get into town!
Investor · Decatur Atlanta, GA · Member since 2011 · 610 posts · 232 votes
9y
I'm starting to see home come back on the market here after going under contract. Can't decifer if it's wholesalers who can't unload them at higher prices or what's going on. I do know the homes you could get for $15,000-$30,000 years ago are now up into the $50k's-$80k and Majority of these are rehabs, but would be interesting to find out.
Real Estate Broker · Atlanta, GA · Member since 2016 · 37 posts · 17 votes
9y
@Minh Ly Have you been able to find more information regarding the west end? I am a wholesaler and I focus primarily on the west end belt line. West end is a good area to invest in just be mindful that some areas are not going to increase in value but west end is the next growing Atlanta area so I would recommend getting a jump start in the development. Hope this helps best wishes!
San Francisco · Member since 2018 · 2 posts · 0 votes
7y
Hello, I'm also interested in investing in Atlanta beltline. Did some research online and happened to find this thread of discussion. It has been a while since this thread was active. Understand lots of happening in the recent years, and would really appreciate some new update & advice.
Also, I'm doing a 1031 exchange, so time is the essence. Looking for experienced local realtor / PM for advice & assistance. Thanks!
Developer · Decatur, GA · Member since 2011 · 1k+ posts · 1k+ votes
7y
Hi Maggie - You can get pretty good Beltline updates from their website - https://beltline.org
Westside Beltline is live. Eastside is live and being extended and is nearly completed. Beltline CEO position has had turnover recently so we're waiting to hear what, if any, new approaches there will be.
Southside (connecting East & West) is 5 - 6 years from completion, but there's a good chance it will 'open' as a path without the big infrastructure investments that delayed the other two sections already opened.
Probably the biggest piece of news unknown is whether light rail will be included for all of the Beltline. IMO, no rail changes the appeal of the Beltline dramatically.
Hopefully, some agents will jump on who can help you. @Maggie Tsai