Rental Property Investor · Greenville County SC / Atlanta, GA · Member since 2017 · 403 posts · 120 votes
I’ve been drawing interest lately in the Atlanta 30331 market, I’ve always admired this area , because I’ve always saw the potential in it, most people before would have never even thought to invest in this area but now it seems to be one of those area where I’m seeing a lot of rehabs, along with the Collier heights & grove park 30318 area , I’m looking more so buy and hold more so on something that needs more so cosmetic repair , not the full rehab , and I’m having trouble trying to narrow down a market to focus on, my main target is cash flow , 10-12% net returns, 20% gross returns , anyone have any suggestion what market in a 50 mile radius of the Atlanta metro area I should maybe focus on ?
Investor · Atlanta, GA · Member since 2017 · 184 posts · 204 votes
7y
@Robert Collins
A 50 mile radius is pretty huge, so there are a lot of areas in there that one could focus on.
College Park area where a large new city development is supposed to be happening, 30331 where you're currently looking, Lawrenceville, Rex, a ton.
As far as Grove Park and surrounding areas go, most of those homes are complete rehabs and may not necessarily fit what you're looking for. It's definitely an area that's seeing a lot of improvement, but a lot of the houses there are really being priced on the hype wave and not necessarily the true value of the house at this time. Not to say opportunity isn't there in Grove, but it will take a lot of strong market knowledge to make good investment choices.
Investor · Atlanta, GA · Member since 2017 · 184 posts · 204 votes
7y
@Robert Collins
A 50 mile radius is pretty huge, so there are a lot of areas in there that one could focus on.
College Park area where a large new city development is supposed to be happening, 30331 where you're currently looking, Lawrenceville, Rex, a ton.
As far as Grove Park and surrounding areas go, most of those homes are complete rehabs and may not necessarily fit what you're looking for. It's definitely an area that's seeing a lot of improvement, but a lot of the houses there are really being priced on the hype wave and not necessarily the true value of the house at this time. Not to say opportunity isn't there in Grove, but it will take a lot of strong market knowledge to make good investment choices.
I live in 30318 and agree with Evan - I purchased a new construction home there for $425K and a year later smaller new construction homes next door to me have been selling for $500K+
I think the prices are inflated right now because it's a super hot market - we'll see how long that lasts (for my own property value I hope it keeps going up!!).
Rental Property Investor · Atlanta, GA · Member since 2018 · 43 posts · 20 votes
7y
@Robert Collins I agree with @Evan Parker, a 50 mile radius is way too wide. You are probably better off focusing on one or two areas or zip codes. Personally, i like 30318 and 30310, but one has to know the specific neighborhoods. The Grove Park area is great for buy and hold. I know there are many old homes there, but there are also a good number of them built in the mid 2000's before the crash that more than likely do not need a full rehab. You'll have to be patient, know the numbers, and be prepared to pull the trigger quickly. There are still opportunities, but the good deals go fast. I suggest focusing on off-market properties.
Investor · Decatur Atlanta, GA · Member since 2011 · 610 posts · 232 votes
7y
@Robert Collins be careful when looking at zip codes. I’m fairly certain the area where @Ciara Dixon bought is further north in 30318. Collier Heights though close to Grove Park is certainly different then either in 30318. I flipped a house in Collier Heights a couple of years ago and wish I could have kept. Google the history of Collier Heights, one of the few developments in US developed, built and sold by and to African Americans. It’s a historic district so you have to have all exterior plans approved. Grove Park is changing quickly with the nearby upcoming Westside Park. With either of these two you’ll need full rehabs. North 30318 has few rehabs under $200k purchase price, but not sure your budget. Stick with 30331 if you’re looking for cosmetic rehabs.
Peachtree Corners · Member since 2017 · 42 posts · 12 votes
7y
@Ciara Dixon yes. Atlanta market is getting wayyy out of control on prices. Dunwoody, Sandy Springs, Roswell, Alpharetta, Johns creek, ect....are getting too pricey
Atlanta, GA · Member since 2019 · 7 posts · 5 votes
7y
@Robert Collins I'm really new to this. Still planning my first BRRRR. BUT, I'd recommend looking in the Tri-Cities area around the airport. Seems to be a good market to get into now. I know there's a bunch of commercial investor money being poured into that area, especially Hapeville.
Atlanta GA, USA · Member since 2019 · 1 post · 0 votes
7y
@Robert Collins I am new to BP but have been very interested in real estate investing for a few years now. I am currently going through a list of deliquent properties in the Stone Mountain, Buford, Loganville, and Snellville area. Let me know if you would like to team up and I could work to see what we could make happen. This could help you get a better rehab property to invest in.