Moving to Athens and getting a feel for the market

10 Replies

Hello fellow BP members, I am a newbie wholesaler in the Tampa area and in a not so distant future I am looking to move to the Athens, GA. Right now I am learning and gaining new skills in Tampa which I plan to take to Athens so I don't have to depend on a ever so dreadful J O B and do Real Estate full time. I am starting with wholesaling to but my plans are to become a Buy/Hold Multi-Family investor. I wanted to get a feel for the market before I move. What to expect? Good areas/bad areas? Is wholesaling a good idea or should I got straight into investing? How is the Real Estate Climate in general? Should I consider investing and/or wholesaling in other cities? Anything I should avoid? Any REIA's I should join? What works and what doesnt. etc. Anything would help. Thank you in advance for your responses.

I don't know the market up there very well, but I assume you will be doing some business/networking in Atlanta.  I'm not sure if Atlanta is still on fire, but know it was not to long ago.  I say talk to a few mortgage lenders now and see what your options are for buying a small multi family in Athens.  I know getting a room there for football season can be very difficult, so look at your options with Airbnb to make some extra $$$ during the season.  To fully answer your question you need to decide what part(s) of real estate you want to do.  If buy and hold is the long term game focus everything around that.  Wholesaling can be beneficial here because you can choose which deal(s) to keep for yourself while making money on properties that are not for you.  This will also allow you to network to find properties from others.  Keep at it and remember numbers don't lie! 

The market in Athens is hot and prices are rising quickly. Atlanta market was in the top 10 markets in the country last year based on the recently released BP index. I need to know your comfort zone price wise to recommend areas to focus on. We also have Athens REI meeting every last Monday of the month. PM me for more info if interested. We'll be glad to welcome you to Athens and see you at the next possible meeting.

@Adrian Smude as always you are a wealth of knowledge. I didn't think you could help me with a market that is so far away. And yes, I will be definitely be looking at the Atlanta market, so I hope its still on fire by the time I get there, its only about an hour and a half away!!!! As far for Athens, I knew that it is a college town so its an obvious good idea to rent out to students but I did not think about Football season. It is after all "Bulldawg Country" (as the locals say) and that makes sense that it is hard to find a room during football season. I got to say, I don't know about the whole seasonal thing though. Although I was planning on also buying cabins in the mountains which are also an hour away and also seasonal and a seasonal. Well I guess we'll see where it all takes me for sure, I am still going to keep the Tampa market in my back pocket and I will still be looking to acquire properties here for sure. As you know, I'm learning wholesaling to get my feet wet in investing. Anyways, I appreciate the info keep me posted any deals you get, my buyers list grows everyday so we can help each other out. 

Originally posted by @Dzmitry Zakharau :

The market in Athens is hot and prices are rising quickly. Atlanta market was in the top 10 markets in the country last year based on the recently released BP index. I need to know your comfort zone price wise to recommend areas to focus on. We also have Athens REI meeting every last Monday of the month. PM me for more info if interested. We'll be glad to welcome you to Athens and see you at the next possible meeting.

Hey thank you for the info. I guess I am looking to invest for Multi-Family up to 150K and wholesaling singles up to 100K. I'm just throwing numbers nothing concrete but just for a reference. Also, Atlanta is about an hour an a half right? I am also looking to buy myself so any off market deals, move in ready you find let me know.

Welcome to Athens Georgia. You have chosen one of the best markets in the Southeast.  One of my mentors invests all over GA, SC and the southeast. Hands down he says Athens makes him the most money over savannah, Atlanta, Clemson, Charleston, Augusta, Memphis etc etc. 

We are investors that specialize in marketing  hard for offf-market deals in Athens...  but we can't buy them all. We are certainly not the biggest fish, but we have a full time salaried staff that markets, finds and negotiates deals. Growing lots of momentum and always looking for new partners in this area. We have a few deals now if you want to message me. 

We believe in the law of abundance so we welcome all serious deal-makers. Reach out to me and we can talk. 

@Jack Tucker Great comment. I'd love to know the ins and outs of why Athens makes your mentor the most money. I'm a new investor seeking to learn. I have time and money, I'm smart and resourceful...any way I can help you and learn please let me know. Best.

Hi I am new to the area as well. Would like to know where the meeting in Athens is held at. I live in Monroe and would like more information to net work? Also want to know if anyone knows any good deals in Athens for small multi families of 5-12 units?

Originally posted by @Account Closed :

Hello fellow BP members, I am a newbie wholesaler in the Tampa area and in a not so distant future I am looking to move to the Athens, GA. Right now I am learning and gaining new skills in Tampa which I plan to take to Athens so I don't have to depend on a ever so dreadful J O B and do Real Estate full time. I am starting with wholesaling to but my plans are to become a Buy/Hold Multi-Family investor. I wanted to get a feel for the market before I move. What to expect? Good areas/bad areas? Is wholesaling a good idea or should I got straight into investing? How is the Real Estate Climate in general? Should I consider investing and/or wholesaling in other cities? Anything I should avoid? Any REIA's I should join? What works and what doesnt. etc. Anything would help. Thank you in advance for your responses.

 Hi I know I am 4 months late to the party but id like to pitch in with as much info as I can! I'll try to each answer you posted in a question-answer type of format. 

"Is wholesaling a good idea or should I go straight into investing? "

Those are both good strategies they do not have to be mutually exclusive. As an investor, you will be marketing to find off-market deals. Depending on how many deals you have coming in minus the deals you can actually take advantage the rest can be the wholesale product.  

"How is the Real Estate Climate in general?" 

The market is boiling. It is a seller's market currently. Which is why anyone who wishes to be active and do more then one or two deals a year needs to market. 

"Should I consider investing and/or wholesaling in other cities?" 

You should consider all things. However me personally, I stick to what I know. I live here (Athens Ga) I know the area well and still there are parts that are unknown to me and Athens is really small. I know many people and have many good connections in Athens yet sometimes it is really hard to get professionals to do what they promised which leads to having to substitute key members of the team while the project is being worked on. What I am trying to say even in your local market with a solid team a lot of the time things don't go as planned. When that happens and you have a good community around you it's easy to solve the unplanned. I do not know if it would be as easy to fix the unplanned if you were in unfamiliar territory with few people you can rely on.

"Anything I should avoid?" Yes.

It would be pretty lame if I left it at that.  Avoid investing without first doing your due diligence. That goes for towns, people, and also money, time. Avoid not educating your self every day. This is investing and it could turn out bad. If one is not aware of what can happen and what to do about it when it does. Investing is like everything risky our job is to minimize the risk through information. Real, Solid, Correct information. 

"Any REIA's I should join?"

Yes, you can join Athens Real Estate Investors Club ran by @Ethan Atkinson or the "Business and Booze REIA" hosted by me. I am not aware of any others in Athens Ga.

"What works and what doesn't?" 

Athens is an interesting town that has a constant new supply of residents. They either stay only during their college years (meaning they rent for at least 4 years) or they stay here permanently after graduating (which means they buy). Also, there is industry all around Athens including a Pepsi plant and caterpillar plant ( meaning there are blue-collar workers moving here and they either buy or rent) and because of the movie business boom in Atlanta we are getting a lot of people moving back to Athens because they are being priced out of homes closer to Atlanta. (creating a new market of commuters that buy and rent) and finally, Athens has been named one of the top cities in America to retire so we are having a lot of people move back after retiring.  

Hope this was helpful. Contact me anytime if you need more help. 

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