Anyone think Conyers in Rockdale county will appreciate soon?

Question

Hello Investors

I notices that in Conyers Rockdale county there are good schools (Zillow grades above 5 mostly)

Prices of houses not that high. However property manager told me she doesn’t think this area will appreciate

Atlanta people, are you aware of new business in the area or government plans to support appreciation in Conyers area?

Thanks, Shiri

Curt Smith · Answer

You can guess appreciation by 2 indicators:

- zillow "neighborhood" section, if this area has the heat indicator, blue to red.  The closer it gets to red the more appreciation,.

- zillow "schools".  Any area great schools 6 or better will appreciate.  7, 8, 9 as the great schools rating is higher, the higher the appreciation.

Just how things work.  Schools drive most of appreciation, then cute house in a nice hood is the rest.

Shiri Manor Nisenbaum · Answer

Hi @Juan Jackson

I understand your point.  A good deal is done at closing buying 30% below ARV is the best. On the other hand I buy and hold for long run, I do plan to hold the house for 5-10 years. So it might happen that a deal done in full price in area that appreciate will gain more money on the long run. For me the rehab process is painfull...

We cant know what will appreciate and cant know which stocks will go up, but part of the fun is to guess this as well and enjoy when you do the right things…

Doug Harmon · Answer

This is an area in a transition down.  The school grades are likely based off historical data.  I don't see home values increasing there anytime soon.  Like any area though, I'm sure there are deals to be had.

Shiri Manor Nisenbaum · Answer

Thanks alot @Watson Smith ! That wasnt that good deal so I will skip. When you but in appricating areas, even if you make mistakes in rehab and not the best deal time fixes that..

Watson Smith · Answer

I have 3 SFR's in Rockdale. I bought at the right time so I've seen them appreciate.  Tenants are hit and miss but for the main part haven't been horrible.  If you find a good deal take it - Its not my favorite area to invest but a deal is a deal. Stay away from the Lithonia side though (Stonecrest Mall).

Juan Jackson · Answer

@shiri manor The rehab process can be painfull. Experience is the best teacher with rehab. If appreciation is your strategy, you may want to focus more on turnkey properties. Just a thought. By the way, how did that last project work out? You can email your response if you like.

Juan Jackson · Answer

@Shiri Manor Nisenbaum Here's my Conyers BRRRR Deal. Purchase 60k Rehab 10.2k (8k material, 2,200 labor) = 70.2K ARV $104k (appraisal) Rent $1,100. Rehab is underway now. Being a contractor my self I have good control of rehab cost. You can expect your rehab cost to be around 18k on a deal like this. The number still work for my strategy. There is building going on in subdivisions that were once stagnant. There are new retail developments in the pipeline for Conyers. Will it cause any appreciation, who knows? I'm not huge on appreciation deals for myself. I just want cashflow and cash-out!!!

Shiri Manor Nisenbaum · Answer

Thanks a lot @Paul Kennedy

Paul Kennedy · Answer

@Shiri Manor Nisenbaum There isn't much out in Conyers, or Rockdale county. It's fairly rural. Anyone who lives out there would likely be commuting into Atlanta for any significant employment. If you want growth, stick to Gwinnett, Fulton, and Cobb county. However, there isn't as much competition in the more rural counties, so that is one benefit.

Shiri Manor Nisenbaum · Answer

Great idea @Curt Smith So conyers 30013 is "Very Cold" and school grades 5...

I

Anyone think Conyers in Rockdale county will appreciate soon?

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