San Diego, CA · Member since 2017 · 4 posts · 8 votes
Hi,
I am looking into buying a rental property (duplex) in Atlanta, GA. I see some properties that are good for the beginner investor in Bankhead, but it seems that it might be not that safe? Which area can be safe to invest that are not too expensive. (Under 200K) Thanks.
Financial Advisor · Atlanta, GA · Member since 2016 · 256 posts · 350 votes
9y
@Ara Jo I can't tell whether you are asking whether the neighborhood is safe (i.e., risk of crime) or whether it is a safe investment (i.e., risk of losing money). Either way, I think Bankhead would be a challenging neighborhood for a beginner investor based in California.
I guess the possible exception would be if you were working with someone in Atlanta that you know and trust and who has relevant experience.
If you are relying on strangers from the internet to evaluate, inspect, and repair properties and to find and manage tenants, there are just too many ways you could get scammed (including by the tenants themselves).
Rental Property Investor · Marietta, GA · Member since 2016 · 23 posts · 10 votes
9y
I am in investor in Atlanta. I am happy to help you do any leg work. I am trying to learn too. I have purchased a property in Cross Creek condo and I love it! This is on the northern tip of Buckhead (not Bankhead) and a preferred area for young professionals.
Investor · Binyamina, Israel · Member since 2016 · 73 posts · 12 votes
9y
I am also out of state, many areas where i feel safe. Such as Gwinnet county. I also bought one in decatur 30032, but i didnt feel safe to walk around. Regarding tenants, the only house i had issues was in good area...
Contractor · GA · Member since 2016 · 268 posts · 54 votes
9y
@Ara Jo You really have to know the area around Bankhead hwy. The eastern part of bankhead is near the ATL Beltline project. The reservoir area is getting some chatter, among other pockets. I think the more successful investors in that area or local. There are a lot of companies/agents that will sell you anything to get a commission check, so be careful. Multi-family units under 200k are generally going to be in challenging or transitioning neighbourhoods. Personally I prefer suburban multi-family. There are some nice properties available under 200k right now!
Real Estate Professional · Atlanta, GA · Member since 2016 · 54 posts · 17 votes
9y
I do a lot of work on Donald Lee Hollowell Pkwy on the commercial side. I would not do residential without a manager taking the risk. A concealed handgun is close to a must.
Wholesaler · Powder Springs, GA · Member since 2015 · 25 posts · 2 votes
9y
Ara Jo
The fact that you are out of state makes it very hard to have a successful real estate investment with your price point, unless you get the deal creatively. With being under 200k you would most likely be in a D+ C- neighborhood which mean high crime rate and low school scores and that's what most good quality renters primarily look for. That's a head ache in my humble opinion. Purchase with multiple exit strategies that way your always in a good position.
Rental Property Investor · Marietta, GA · Member since 2016 · 23 posts · 10 votes
9y
@Rhonda - Because the proerty is off of a golf course, gated and a restaurant on site the HOA fees are moderate between 370 and 420. Let me know how I can help.
Investor · Binyamina, Israel · Member since 2016 · 73 posts · 12 votes
9y
@Andre Williams hi
I will look soon for another property. I am sitting on the fence at the moment to see what is the net income I actually get from the rentals, before I increase my investment. The house I will look for will be without major rehab and in nice areas where there is no crime, people take care after the houses and garden etc..
Minimum rent for the house should be 1000K. And minimum rooms are 3+2….
I was thinking to look at Multifamily in the suburban as Juan suggested.