Augusta , GA and surrounding areas

[Shaine Cobb]

Ok everyone,

Let's hear from our friends in Augusta GA and the surrounding areas. Just curious to see how many active members are around here. Should include but not limited to: Aiken, Edgefield, North Augusta, Augusta, Evans, Grovetown, Martinez, Hephzibah. I look forward to hearing from you!

[Rod Smith]

@David Boykin

You are right about growth in Virginia, but it depends on your strategy and/or position. Eventhough Augusta is not growing by leaps and bounds, it isn't a gold rush town that is drying up. There are a lot of manufacturers opening plants and distribution centers in the area that will keep the middle class employed. Those are my tenants. Plus that area has a higher renter population. A lot of people just do not buy houses. The numbers are probably scued for the past couple years because people who never thought about buying saw an opportunity to buy foreclosures for much less than they were paying in rent. But it is returning to normal.

As for my financial position, it would be more of a strain for me to purchase a property here due to the much higher price point. I am able to purchase distressed properties there for cash, renovate, and do a cash out refi later, if I choose. There are some people that say it is better to buy the more expensive house here because your rents are higher, however when I crunch the numbers it is about the same percentage wise (if not better down there) because of the increase cash outlay necessary to purchase here.

Also, on a personal note, I am originally from the south and plan to make my money here and eventually return there where the cost of living is much lower. Therefore, I want my rentals (aka retirement plan) to be down there so I can manage them later on in life. Won't have to worry about paying a property manager up when I leave.