I'm looking for a good house hacking property somewhere within ~30 minutes ish to Midtown Atlanta. Duplex searches on zillow come up with many homes which are just 2 floor SFR town homes so finding properties has been difficult! I've got in contact with a real estate agent and a lender. Seems like my budget is somewhere around or a bit above $300k and my agent found a couple properties in west Atlanta but most are a bit run down. Most of the ones we've found are built in 1920 - 1940s and look like they'll need a good amount of repairs. I'm wondering if I'm going about this in the appropriate manner and wanted to seek some advice. Maybe I should start looking for Duplex properties that are up for rent and see if the owner is looking to sell? But I'm not entirely sure where duplex properties are in Atlanta though. Any ideas?
Rental Property Investor · Atlanta, GA · Member since 2018 · 73 posts · 18 votes
8y
I think we are all hunting for a first-time-investor duplex. The nicer ones I have seen (in a lower price range, though) have been in Doraville/Norcross and Lawrenceville. Other not so nice ones as described previously more in the heart of the city on the west side. But appreciation should be good if you can hang in there a few years. There are also some in East Point and Hapeville area that seem in between, so check that out. If you are looking in the $300k price range you should be able to find something pretty good. It's just beating out the cash buyers that is a problem. Be prepared to offer frequently if my very limited experience is any indication. Good luck!
Here's my question to add: is there an online map you can look at to see how properties are zoned? How do you find these R5 Properties?
Investor · Atlanta, GA · Member since 2013 · 3k+ posts · 3k+ votes
8y
Last time I was looking for the zoning map they were still down, because of the hack in the city computers in March. I don't think they've fixed their systems, yet, and they didn't pay the ransom.
Decatur, GA · Member since 2017 · 36 posts · 39 votes
8y
@Michaela G.@Jessica Freese Most of Atlanta GIS is back up. FINALLY. I almost got myself into a real pickle because I wasn't able to pull the parcel maps on a property until this week and just narrowly averted a disastrous closing where a portion of the house wasn't even on the lot. It was missed during the title search because "no one ever complained." Ugh. Hackers. Should have just paid the ransom!
Not only are R-5 properties zoned for duplexes they are also zoned for accessory dwelling units which means if you find a place with a large enough lot you cant turn a single family home to a duplex AND build another house up to 750sq ft on the same lot. thats Three Units on the same lot! We just finished converting our single family home to a duplex. It only cost 30k and now the unit is renting out for 1200. This, I belive is a very under utilized strategy
oh wow. what a gem right here. i'm quite interested in atlanta. would you be able to talk more via message?
There are some duplex “neighborhoods” in different areas and you need to ask your agent to have a longer conversation with your agent if you really want to find something. If you just started looking in the past 12 months, to be frank, you are late to the party. That doesnt mean there is no hope. When you speak again with your agent(s) ask them to help find where these pockets are that might be random duplexes, triplexes, quads or actual neighborhoods. Many are just outside the perimeter or close to it. Look at sold properties to find them and send mail to all their neighborhoods. Many owners don’t want to sell right now because times are good, but with persistence you can find that diamond in the rough. You definitely should call the ones listed for rent and ask if they want to sell. My opinion is go triplex or quad. Last idea, get in your car and start driving for dollars. Go find stuff with your eyeballs in the areas you like most by hunting in your car.
When you say late to the party? What do you mean by that? I am kinda in the same situation but i'm looking in the North Ga area.
Atlanta, GA · Member since 2018 · 10 posts · 4 votes
7y
This is an awesome thread. My husband and I own a landscaping company and we’re starting to look for multi family as well. I mentioned east side and he’s told me for past 6 months, no it’s the Westside of Atlanta on the come up. Just the confirmation I needed from this group. So while he’s out serving lawn customers, he’s writing down addresses too. Driving for dollars makes more sense to me now
Acworth, GA · Member since 2016 · 3 posts · 1 vote
7y
This tread is a gem in itself... thankyou all for the great contributions. Motivated to keep hunting for duplexes/multiplexes in the greater atl environs
Atlanta, GA · Member since 2015 · 108 posts · 42 votes
7y
I recently closed on a duplex in Marietta and will be completing the BRRRR process mixed with a house hack over the next yearish. Fingers crossed everything works out :)
Atlanta, GA · Member since 2018 · 5 posts · 0 votes
7y
@Paul C. Congrats on your duplex in Marietta! I'm close to closing on a property in East Lake Atlanta. Are there any General Contractors that you would recommend based on your recent search? Thank you in advance!
Atlanta, GA · Member since 2015 · 108 posts · 42 votes
7y
@Ethan Henning Thanks man we are excited and Im going to try to document everything so I can do a write up later on. Hopefully we can do business together in the future :)
@Victor Montes I'm in the phase of locating a contractor now and are meeting with a few for estimates, but have never used them before. If things go well, I will pass along their information. So hard to find a good contractor these days....
Real Estate Salesperson Licensed · Atlanta, GA · Member since 2016 · 114 posts · 22 votes
7y
Hey Marcus, are you still looking for multifamily deals? I am a licensed REALTOR working the Metro Atlanta area. Perhaps I could be of some help, lets connect.