Best areas in Atlanta to Invest Right Now
For all you BP folks that live, work, and/or invest in the Atlanta area, what would you say are the best and hottest areas of town for flipping and selling houses?
What area is best for buy and hold multi family rentals? I might have to buy a couple to generate some cash flow while I try to figure out where to buy and flip. It seems like it can be a real hit and miss and I cant afford to have my first flip not do well. Trying to be and entreupreneur and not do the 9to 5 closk in for someone else. Chasing my dream! Any help is appreciated.
Originally posted by @Michaela G.:Originally posted by @Mike H. Jones:
*****The thing is - investing is different from buying a house as your home. So, I'm glad that you threw out from the beginning on that you're just a home buyer, not an investor. BUT, I think that some people here did not read that part and are looking for investment advice from you and I think that can be a mistake.
For example, while you say that Pittsburgh lots are too small and therefor won't do well, well, that has nothing to do with investing, because the size of the lots in Cabbagetown did not hold that neighborhood back. In fact, many of those lots are 25' wide, when Pittsburgh is zoned for 40' wide lots.
So, thank you for your home buyer opinion on certain neighborhoods, but it really doesn't have an effect on the investment side of things, because you don't really focus on each neighborhood, but just drive through and sort of compare them with each other.
Yes. This is true. I am not an investor and have never invested. I am simply a home buyer who has aspirations to invest soon [which is why I'm on this site :)]. My posts are to help those who may know little to nothing about the make up of Atlanta or and to provide them with what I believe the hot spots are. But as far as investing tactics and knowing what exactly to look for in a home you want to invest in, I'll leave that up to you guys :)
Originally posted by @Nesta Dawkins:
What area is best for buy and hold multi family rentals? I might have to buy a couple to generate some cash flow while I try to figure out where to buy and flip. It seems like it can be a real hit and miss and I cant afford to have my first flip not do well. Trying to be and entreupreneur and not do the 9to 5 closk in for someone else. Chasing my dream! Any help is appreciated.
From what I've seen, 30318 has a lot of fixer up multi families (Carey Park, Almond Park, Center Hill, Grove Park). I'm talking those big 3000 sq ft 6 BD 4 BA multi families. Look up 1969 Jones Ave for a depiction of what I'm getting at. There are a lot of these type of homes in that area. Others can probably help more, but in my opinion to find a good section of multi families in Atlanta you would have to do the groundwork and drive around since this isn't a city that has a lot of them. And then you may not even be able to tell its a multi family at that.
In fact, I would target that area ^^ because you could literally walk to the new West Side Park in 2 minutes from there. Those duplexes in the mentioned areas were selling for 350k once upon a time before any sustainable development hit the city too just for accurate measure.
We do appreciate all the help and feedback we can get. We appreciate it all.
I appreciate that I will keep looking and be diligent. Planning to buy 4 for cash flow.
Lot's of great info here. I myself have many great deals throughout the Atlanta Metro on a consistent basis and cherry pick what I want to keep or assign. Let's connect guys and gals if you are having trouble finding true deals.
@Mike H. Jones you keep posting Mike I'm in a position to absorb knowledge and that's what I get reading your input...Thanks!!!
Originally posted by @Valerie Copeland:@Mike H. Jones you keep posting Mike I'm in a position to absorb knowledge and that's what I get reading your input...Thanks!!!
I'm here to help!
So I've pretty much have already covered the Westside of Atlanta, and quite frankly...investors have too. From what I've seen, heard, and have experienced in the first two months of 2018, I can for sure say that the areas bordered by Northside Dr, West Lake Ave, Joseph E Lowery, and I-20 is probably the hottest in the entire country, and no this isn't an exaggeration...Prices are up, inventory is down, and new homes are either staying on the market for only 10-15 days and being bought up cash, or they're staying on market for 30+ days and milking each offer they can get. For example, I called a few listing agents for homes I've seen on the market longer than I would expect, and all by 1 was cash only...and not the 60ks and 70ks we saw in 2015, but now they're listed at 110-120k. I've seen comps in that area that are 40k-50k more than they were worth from 2016-2017. A bidding war for homes in the 30314, 30310, and parts of the 30318 is imminent at this point. Honestly no way around it.
Pittsburgh has essentially demanded its attention and respect at this point. I had no idea it would turnaround this quickly. The same 4 bedroom 2 bathroom that would have sold for 65k in February 2017 is selling for 125k in February 2018. This area is probably going to be the hottest and most visited in the city for the next 6 to 7 months, and then I'm all but certain that this area is going to price out. As I've said before, this area is the biggest wildcard in the entire city, and it looks like this area has started to awaken. I would get in on the 3 BD 1.5 BA deals in this area if I had some money to spare and were looking a place to take a chance with...most of the 2 BD are less than 1,000 sq ft, but are also the homes that are still sub 80k
Historic South Atlanta, Lakewood, Lakewood Heights, Amal Heights and Sylvan Hills are all next up, but these homes will likely require much work. I would say they're all 2 years away from being 2 years away, but as we've seen with the heat of the market this past year, it may be even quicker starting with Historic South Atlanta which is closer to the city...a lot of people have been scared of this area because of it being aesthetically unattractive and because of lack of amenities, but because of it's proximity to the city, it's going to be hard for this area not to appreciate, especially because of its proximity to East Atlanta which has already appreciated, and to all of the downtown neighborhoods which will (and are) appreciating soon. Prices aren't too bad in these areas, its probably the most fairly priced area in the city right now. And if you happen to find a great property in this area, it may even appreciate more than the homes on the Westside. But beware, the closer you go to Cleveland Ave the longer it'll take for your property to appreciate, especially if its somewhere tucked in. I would say stay above/near Langford Pkwy and Lakewood Ave
Regarding 30318 and the Westside Reservoir Park, get in on the areas bordered by Bolton Road, Perry Blvd, Marietta Blvd, and Donald Lee Hollowell. Homes in this area are continously being listed and it seems like this is the calm before the storm. After seeing how the areas immediately West of downtown has changed so rapidly, this area is certainly next. Yes, there is less promise of amenities, well structured and developed communities (architecturally), and overall design for the area, but there's no way this area won't see appreciation/rise in rents/growth. Its less than maybe 8 or so miles from Buckhead, will be 5 or so minutes from Atlanta's biggest park and possibly most used park, another 5-10 minutes from midtown/downtown and will be close to the developments on Marietta Blvd, Moores Mill Rd, Maddox Park, and the Beltline. Prices are still fair in this area too and this areas features the most multi family units I've seen in Atlanta so far. This would be the area I'm banking on the most overall, even moreso than the area immediately west of downtown (although it will take this area longer to reach its max potential)
If I had to give a hot take of the City/Metro Atlanta...I would say keep a moderately concerned eye on the area in the perimeter but above/adjacent to the airport. This area looks primed for growth. Camp Creek Pwky is going to see a lot of development in the next few years. They've just recently announced the new development of the Gateway Center at College Park, which will be a mixed used development where they will host concerts, conferences, events, and will be the home of the Atlanta Hawk's development league team. There is also rumblings on a $1 billion project along Camp Creek Pwky which will essentially make the area walkable. I saw home values in an area close increase by 30k literally a few days after the annoucement...can't say for certain that there's a direct correlation but it makes sense if it was. If you head east a bit, you have Hapeville which is already doing great in my opinion who just had Porsche come down and build their headquarters there. Camp Creek Pkwy is my pick to turn into the next Cascade Ave (sorry Campbellton Rd) and with Atlanta becoming the new Hollywood with all of these film production companies moving down, all of these headquarters moving here, and with the potential of Amazon moving down, I can foresee a lot of demand coming to this area because of it's proximity to the airport. If they can find a way to make Camp Creek Pwky walkable from the aiport to the Camp Creek Marketplace (what I believe the plan is and is about a 4 mile radius) then I say watch out...Only thing is that the area along Camp Creek inside of the perimeter belongs to East Point and College Park, while the area outside of the perimeter belongs to Atlanta. Still areas worth considering if you ask me.
Now just remember, these are in my opinion the best places to invest because of value given the current climate and market temperature of the city. Of course there are area's in East Atlanta, up near Riverside, and Peoplestown that are just as good investments if not better, but in my opinion the ships sailed on those areas over the past 3-4 years (in terms of finding bargains).
@Mike H. Jones - question for you since you seem you be familiar with investing + having to live in a home.
My fiancé and I are looking to buy a home. We will have a different situation however due to his work. He travels from February to at least September every year SO we were looking to use it as a short term furnished rental while we were away. Do you have any suggestions, insight, or advice for the best areas? We will have to live in it ourselves when we are home. We are open to a flip if needed, and we hope to buy a house that we can sit on (while living in + actively renting) for a few years and get a return.
Would love to hear your thoughts!
Originally posted by @Layne Cordova:
@Mike H. Jones - question for you since you seem you be familiar with investing + having to live in a home.
My fiancé and I are looking to buy a home. We will have a different situation however due to his work. He travels from February to at least September every year SO we were looking to use it as a short term furnished rental while we were away. Do you have any suggestions, insight, or advice for the best areas? We will have to live in it ourselves when we are home. We are open to a flip if needed, and we hope to buy a house that we can sit on (while living in + actively renting) for a few years and get a return.
Would love to hear your thoughts!
What is your budget? And would you rather live in the city (inside of the perimeter) or outside of it? Of course your home would be more likely to appreciate in the city but there are also a few places outside of it (Cobb [especially] and some portions of Gwinnett and Dekalb) where it would also see a nice degree of appreciation. There's a few options worth mentioning depending on your price point!
With limited information however, I would look into:
Marietta/Smyrna (Cobb): An Atlanta suburb where the property market is strong. The new Atlanta Braves stadium was recently built within the last two years and I've heard/read stories of the citizens of Cobb County actually being more in favor of it than not. I would expect this to help with appreciation. 25-45mins from Atlanta depending on traffic. You'd never really have to worry about the quality of tenants with these cities. Houses are in much better shape than the ones in Fulton County as well
Mableton: If you want a more affordable, slightly less updated version of the aformentioned, look into Mableton. The appreciation has started to branch out there too.
30315/30312: This only applies to the areas bordered by 85 to the left, 20 to the north, McDonough Blvd to the south, and Moreland Ave to the east. 5-10mins from Downtown/Midtown, property values have increased and are continuing to. Appreciation will not be a problem. A lot of movies being filmed in this area too. This is probably the most sought after area in the whole county south of I-20. I would estimate that homes on average are between 1200-1700sqft and most homes are one level (two stories we're talking maybe double the price for this area), so I'm not sure how that would fit into your plans. Finding a quality tenant for this area will be a piece of cake as well.
Capital View: Nice lots, nice feel, and up and coming. Not all the way there yet though but this area could be prime for those looking for a lower price point, a decent chunk of house, and a nice forecast of appreciation.
The areas along Memorial Drive/Glenwood (East Atlanta): A lot of options here. I have no issues with any of these areas. I'm more familiar with the Atlanta portion of it though (30317) rather than the Decatur/Dekalb portion of it. The more East (towards Decatur/Dekalb) you go the higher price in taxes you'll pay compared to the value you'll get. Further east Less attractive to renters as well imho.
30318/Grove Park/Westside Reservoir Park: I LOVE this area...but only for 2020+ and moving forward. Still a bit sketchy now, but you can see the gentrification in real time in these areas. May make for a perfect flip. Also a lot of multi family units in this area directly next to the new park which are on the market for 150k> now...have no doubts these prices will reach 350k once even a third of the changes come to the area. The new park is underway as well. I got a chance to ride through an open gate which was an entrance to the new park and they've already started sectioning off walkways and laying down pavement and are in the beautification process now. Depending on your price point, look into the new construction on Johnson Road. These could potentially be the next set of "those" houses. Really a personal decision on this one, but you can read throughout the thread and get my opinions on this area.
Hapeville: Dark horse here...check it out. Right next to the airport, the tenant pool will be a surplus, the market has been strong over the years, nice lots, Fulton County taxes, Porsche's headquarters, prices aren't exorbitant, quieter than most areas, lots of eateries, close to every major highway, but still doesn't see a lot of traffic, and still inside of the perimeter. I've heard many depict Hapeville as hidden treasure in the past.
This is all based on an assumed 300k budget. The average price of all of these areas is around 190k-230k.
Are you looking more for affordability and appreciation? Or stability/strong market performance over the decades/great school districts? This could make a lot of difference. Nonetheless...finding a tenant in Atlanta won't be a problem at all.
Wow, considering you just got started, your dedication to knowing these neighborhoods is REALLY impressive!
I have a question about my next rental property. Although I know I definitely need to spend at least one tenth of the time you spent on knowing these neighborhoods, I wonder whether you can give me a starting point:
I am a new investor started two years ago. So far, all my rental properties are in the suburb areas (30047, 30021 within 285, 30082, 30152, 30122 ). As I was reading more posts and talk to experienced investors, I am thinking about to diversify my portfolio and invest at least one or two in in-town neighborhoods, to take advantage of the healthy growing of Atlanta. I don't mind living in it for a couple of years as I work in-town and I don't need to care about schools. My goal is to find a solid 3/1 or 3/2 SFH <180K, <15K for repairs, in an up-and-coming C- or C+/B- neighborhoods but have no issues to find quality tenants. Since I am a buy-and-hold investor, I can wait for 5 to 10 years to reap on the appreciation. On the other hand, since I am a new investor, I cannot buy a house and board it up waiting for the appreciation for 5 or 10 years. I looked at places near the Golf course, memorial Dr and Gleenwood Dr, and also the west side of the town in these neighbhorhoods that you mentioned in the posts. Overall, it seems the neighborhoods on the east side is less sketchy (compared to Oakland City, for example), but location wise, they seem to be slightly less desirable than Mozley Park, Westview, etc.. I could be completely wrong though, as there is Decatur right above them. Some also suggested Grove Park near the reservoir, but I really don't know anything about it. Could you please give me some suggestions on which areas I should pay extra attention to, based on my situation?
Many thanks in advance!
Lee
Originally posted by @Mike H. Jones:
Originally posted by @Layne Cordova:@Mike H. Jones - question for you since you seem you be familiar with investing + having to live in a home.
My fiancé and I are looking to buy a home. We will have a different situation however due to his work. He travels from February to at least September every year SO we were looking to use it as a short term furnished rental while we were away. Do you have any suggestions, insight, or advice for the best areas? We will have to live in it ourselves when we are home. We are open to a flip if needed, and we hope to buy a house that we can sit on (while living in + actively renting) for a few years and get a return.
Would love to hear your thoughts!
What is your budget? And would you rather live in the city (inside of the perimeter) or outside of it? Of course your home would be more likely to appreciate in the city but there are also a few places outside of it (Cobb [especially] and some portions of Gwinnett and Dekalb) where it would also see a nice degree of appreciation. There's a few options worth mentioning depending on your price point!
With limited information however, I would look into:
Marietta/Smyrna (Cobb): An Atlanta suburb where the property market is strong. The new Atlanta Braves stadium was recently built within the last two years and I've heard/read stories of the citizens of Cobb County actually being more in favor of it than not. I would expect this to help with appreciation. 25-45mins from Atlanta depending on traffic. You'd never really have to worry about the quality of tenants with these cities. Houses are in much better shape than the ones in Fulton County as well
Mableton: If you want a more affordable, slightly less updated version of the aformentioned, look into Mableton. The appreciation has started to branch out there too.
30315/30312: This only applies to the areas bordered by 85 to the left, 20 to the north, McDonough Blvd to the south, and Moreland Ave to the east. 5-10mins from Downtown/Midtown, property values have increased and are continuing to. Appreciation will not be a problem. A lot of movies being filmed in this area too. This is probably the most sought after area in the whole county south of I-20. I would estimate that homes on average are between 1200-1700sqft and most homes are one level (two stories we're talking maybe double the price for this area), so I'm not sure how that would fit into your plans. Finding a quality tenant for this area will be a piece of cake as well.
Capital View: Nice lots, nice feel, and up and coming. Not all the way there yet though but this area could be prime for those looking for a lower price point, a decent chunk of house, and a nice forecast of appreciation.
The areas along Memorial Drive/Glenwood (East Atlanta): A lot of options here. I have no issues with any of these areas. I'm more familiar with the Atlanta portion of it though (30317) rather than the Decatur/Dekalb portion of it. The more East (towards Decatur/Dekalb) you go the higher price in taxes you'll pay compared to the value you'll get. Further east Less attractive to renters as well imho.
30318/Grove Park/Westside Reservoir Park: I LOVE this area...but only for 2020+ and moving forward. Still a bit sketchy now, but you can see the gentrification in real time in these areas. May make for a perfect flip. Also a lot of multi family units in this area directly next to the new park which are on the market for 150k> now...have no doubts these prices will reach 350k once even a third of the changes come to the area. The new park is underway as well. I got a chance to ride through an open gate which was an entrance to the new park and they've already started sectioning off walkways and laying down pavement and are in the beautification process now. Depending on your price point, look into the new construction on Johnson Road. These could potentially be the next set of "those" houses. Really a personal decision on this one, but you can read throughout the thread and get my opinions on this area.
Hapeville: Dark horse here...check it out. Right next to the airport, the tenant pool will be a surplus, the market has been strong over the years, nice lots, Fulton County taxes, Porsche's headquarters, prices aren't exorbitant, quieter than most areas, lots of eateries, close to every major highway, but still doesn't see a lot of traffic, and still inside of the perimeter. I've heard many depict Hapeville as hidden treasure in the past.
This is all based on an assumed 300k budget. The average price of all of these areas is around 190k-230k.
Are you looking more for affordability and appreciation? Or stability/strong market performance over the decades/great school districts? This could make a lot of difference. Nonetheless...finding a tenant in Atlanta won't be a problem at all.
Hey Mike!
Thank you so much for getting back to me. I really appreciate your insight on the areas. As for us, you were right on the money with our budget. We are looking at houses around the $300,000s and in my mind, I would love to be inside of the perimeter. I think for us, since we are in our mid 20s and not planning on having children anytime soon, we are looking more for affordability, future potential of of a neighborhood and appreciation.
Right now, we been looking a lot over and West End and Capital View area. However, crazy as it seems, we are already being priced out. Our search has gone a little north towards Mozley Park. How do you feel about this area? I am a little bit torn… I feel like Capital View and West End are eventually going to be right in the "heart" of the commotion, as Monroe Drive and Ponce daily on our on the East Side. Additionally, as the south side trail develops and expands, there will be easier access from these neighborhoods.
I feel like Westview and Mozley Park are going to be more of your outskirts more residential neighborhoods? Possibly more along the lines of a Kirkwood type feel? I could be wrong, because Mosley park is so close to Just Us and some other areas in southwest Atlanta that haven't quite seen the growth.
Thank you so much again for your insight, I really appreciate it! Your knowledge of the areas around the city are impressive.
Great info on this thread..Looks like the last one was posted around 4 months back. What is the latest on the areas that have been discussed .
What areas continue to be hot from a rehab point of view ?
What areas have potential from 1-2 years buy and hold point of view ?
Everywhere in Atlanta and surrounding areas.
I can tell you that in Pittsburgh anything that's renovated is now 200k and up and climbing
I saw huuuuge appreciation in Oakland City within the last 11 months, close to the Beltline/Lee street corridor.
As a Metro Atlanta native, I believe the opportunity lies off of the I-75 N corridor. Kennesaw, Acworth, Dallas, etc.
I am also a big fan of Brunswick, GA with the FLETC housing stipends.
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Real Estate Agent Georgia (#389888)
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Hey Jorge - I'm a sucker for this area. Being that you're in the Dallas area, I am sure this is no surprise. Tons of 70's and '80s vintage that are dying to be renovated. There is lots of competition here, but demand for ARV in the low to mid 300's is still there for a nice exit if you can hit your numbers.
