New investor for Multi family in north metro Atlanta

8 Replies

Hello BP,

New investor here looking to buy a duplex/triplex in the metro Atlanta area (preferably North). I'd like to live in and and rent out the other(s). Looking to see if anyone had recommendations on a real estate agent who has experience with first-time buyers, and also first time buyers of multi-family properties in the area.

Thanks!

@Jewel Welch welcome. The agent that you use should not be your focus. Most agents know very little about investing. You will find your first property by looking and looking and looking. An agent will just email you listings from the MLS. Know how to calculate the value of a property based on income, not comparable sales. As far as being a first time buyer, you should talk to a lender and get pre-qualified for a loan or better yet, pre-approved. Being pre-qualified will be important when you start making offers. Once you are pre-qualified and you have found a property, then the agent will be helpful in writing the offer and negotiating seller contributions.

@Jewel Welch,

Welcome to Bigger Pockets. I recommend that you join a local real estate investors association. GAREIA.com offers great training and networking for new investors. Good luck and let me know if I can be of assistance. 

Regards, 

Bill Hampton 

Hey @Jewel Welch , I agree with @Anthony Dooley by not being advised by real estate agents as most aren't investors like yourself and will not be looking at a deal on a return basis. My advice would be to start getting online to see what is out there and fits "YOUR" criteria, which should be predicated on it's income producing capabilities and then looking 5, 10, 20 or 30 year at the exit asking yourself will this still be a good investment then. I would utilize the BP calculators online or build your own financial model like what I have done to start analyzing these deals. Start taking action today and networking with others because as you will quickly come to find out, this business is predicated on who you know. Best of luck and let me know if I can be of any assistance!

Thanks Curtis and Anthony for the great advice. I too am interested in multi-family properties.

Thanks for the advice

@Bill Hampton and @Curtis Rouse .  What is so scary for me is all the information out there. I don't know where and how to start and how to weed out the bad advice from the good. I do not want to inadvertently become part of a pyramid scheme. I want to invest for MYSELF.  I also have limited funds and want to spend it wisely. It is all very overwhelming. 

I'm looking for 0 - 15 units to start. I'm new to multi-family so I wanted to start small.

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