CA Investor looking to buy MF in Atlanta - looking for my team

16 Replies

Hi all,

Not sure if there are any real estate agents here who have worked specifically with out-of-state investors?

I have been researching areas and am looking to the great city of Atlanta for an 8 unit (or 2 4-plexes) potentially in the following area: near Georgia State but open to suggestions.  

Bonus points if you have a referral for a local lender & Property Management company. 

Thank you

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@Melissa Horwath you should reach out to brokers in the markets you are looking at. Most of the wants you want to work with are not here. Nor are they thinking of lead gen out of their state.

What are you trying to accomplish?  What's your strategy?  What are your constraints?  

3 or 4 years ago there may have been some inventory in C/D/F neighborhoods near Downtown (GA State), but now you're looking at paying a premium for a full or heavy rehab.  It really just depends on whether you actually want to make money on this market any time soon.  

A realtor or broker might not challenge your reasoning as critically, since they have other motivations.  At least on BP, most of us are driven by some level of intellectual curiosity.  

Thanks for connecting @Nicholas L. Looking for a B neighborhood – where do you suggest instead?

Probably outside the I-285 perimeter, but I don't know that market well.  I live and invest near Downtown and I've done deep research on mostly sub-400k multiunits in the surrounding areas (west side near Beltline developments).  

East Point, College Park, and Forest Park may have some options, but my impression is there may be a better way to get to what you want to accomplish.

Hi Melissa, I’m an agent in Atlanta and run a Property Management business with several out of state clients. I got started in the industry by owning multifamily properties. I’d love to help! I’ll shoot you a direct message. 

Hey Melissa, 

If you are looking at small multifamily, I'd be happy to connect you with a handful of brokers who specialize in in-town Atlanta apartments. My company provides management services for properties in the 8-100 unit range, so would love to discuss down the road if you find something that works out for you. Feel free to PM me. Good luck!

@Melissa Horwath

I would love to be in touch as well. I am also looking for partners to enter into MF properties. 

Hey Melissa. I'm a licensed agent and I only work with people buying out-of-state. Kind of depends on what context though you're wanting an agent. Like I can connect you to a lot of folks in Atlanta (all my properties are there) but an agent based there there would be the one to handle the properties more directly with you there. I do work with property managers there and lenders and all that. Atlanta of all places, I actually have at least one of everyone.

You mentioned MFRs though....have you run the numbers on any in the area you are talking about? You're not likely going to find cash flow on those. And also, there's a big difference between going for an 8 or a 4...that's commercial vs. residential so completely different agents, different financing, etc.

Happy to help if I can.

Really appreciate everyone taking the time to reach out and offer advice. If I haven’t followed up with you personally, will do so soon. Thanks again!

@Melissa Horwath , I am going to be entering the investing world soon, and would like to buy a duplex/tri/quad to start.  I am looking for a team as well.  Let's connect if you are interested.  

@Ashish Acharya I am working on a plan for my first deal now.  Partnership is definitely on the list.  I'll reach out to you.  

@John Rutledge and @Matt Wood   Another line I'd like to pursue is a short-term rental for the business person.  I'd love a recommendation for those intown Atlanta brokers.  And I'll keep your names in mind for property management.  

Thank you, and good luck @Melissa Horwath

Good morning, @Jessica Freese. There are a lot of great brokers in Atlanta, but the ones below are a few I've worked with personally who tend to have the best volume of the smaller multifamily deals.

Andy Lundsberg | Bull Realty 

Jake Reid | Franklin St. 

John McCalla | Berkadia 

Johnny Easterling | Wiley 

Kurt McGarry | Marcus & Millichap 

All the best as you begin your investing journey!

@Melissa Horwath are you looking for a turnkey opportunity or something you can rehab and rent? I have an investor that I work with (providing funding) in Atlanta that has several deals each month. Specializing mostly in duplexes and quads. 

@Michelle Suiter class B turnkey oppty. I'm nervous to get too far into a rehab being out in CA. Maybe for my next investment!

@Jessica Freese awesome! Good luck to you. I'll message you so we can compare notes. I see @John Rutledge has already hooked you up with some great contacts. 

@Melissa Horwath That would be great.  Atlanta is an awesome city.  Good luck. 

@John Rutledge   Thank you for the contact information.  I am glad to now have contacts in this area versus starting from zero on the search.  I really appreciate it.   

@Michelle Suiter I would be interested in any MF properties you come across.

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