The Atlanta Condo: When, Where, and How?

[Ambria Maxwell]

Hello fellow BP investors/learners,

I am interested in purchasing a condo in the West End, just south of Morehouse College. I know, trust me, I know. But, I'm thinking if Edgewood Rd, Glenwood Rd, Perry Blvd and Moreland Ave can turn around in the way that it has...well... West End has to be next. It's just south of West Midtown, west of Downtown, and 5 minutes away from the Mercedes-Benz Stadium (not to mention our new Atlanta United soccer team). Let me know your thoughts!

[Ambria Maxwell]

I can agree with your standpoint. It seems like the majority of multifamily homes are being morphed into the McMansion phenomenon in Atlanta. It's really hard to get into that. If I were to do that, I would go closer to West Midtown near Perry Blvd. But, I was hoping that with the Mercedes-Benz stadium that I would have a little luck with a possible student housing setup where I may rent out rooms since there are maybe 5 major universities and 2 community colleges in the city.

Originally posted by @Rick Baggenstoss:

@Ambria Maxwell I like the area for investors, but I would not buy a condo over there.  Condos are a different animal.  If someone throws up another couple of apt/condo buildings or the market softens you'll see why condos are so risky.  In areas where land is more expensive, it's less risk.  That's not the case in SW Atlanta.  There's lots of room for large multifamily.

I would see if you can find a nice house to share with friends.  Your return will be MUCH greater with a fraction of the risk.

As far as a place to live, condos are great.  It's a simple life.  

PS - I've owned a condo for 15 years in Smyrna.  It's barely made any money.  That's hard to do in Atlanta real estate.