Is this a deal my Atlanta friends

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Is this a deal my Atlanta friends

Peter Seely
Select a State · Member since 2011 · 90 posts · 3 votes

What do you think:

SFH Mableton 1991
1500 SQ feet
$35000
1/3 acre

Fannie Mae

will Rent for $850,,,advice on Mableton appreciated. Where is it going? Increasing or decreasing in population. Looked at city data and so far am happy.

Crunched my numbers and used the 50/50 rule including a 10% vacancy rate and misc account of $400 yearly on top of this.

Net 415 a month.

On contract just curious on your opinions.

Would also love some referrals on a really good property manager as I am out of country and this is VERY important to me. I will be in Atlanta July 23-26th to meet them. I will take one or two or three and speak with them all.

In addition, any advice on insurance agencies in Atlanta.

As always thanks for any and all help. I am hopefully soon going to be a real estate investor in the US pending inspection.

Peter

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  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    15y

    Some parts of Cobb county are great and others are not.Maybe messaging J Scott would be good as he works Cobb pretty well with his rehabs.

    Some parts of Cobb are now designated as flood zones from the big flood that happened so make sure you are not purchasing in those areas.

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  • Peter Seely
    OP
    Select a State · Member since 2011 · 90 posts · 3 votes
    15y

    Hi Joel,

    Thanks for the reply. I will shoot him an email for sure. Great point about the Flood zone, that is the last thing I want.

    Thanks

    Peter

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  • Naga A.
    Investor · Atlanta, GA · Member since 2010 · 186 posts · 14 votes
    15y

    Hey Peter,

    I do not have any useful information to give to you on this, but want to say "hi" as I am also an out-of-country investor, investing in the Atlanta market (Dekalb country, particularly).

    May be we can exchange information sometimes. I also always look for a good property manager.

    Naga

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  • J ScottPro Member
    Moderator
    Investor · Sarasota, FL · Member since 2008 · 17k+ posts · 17k+ votes
    15y

    Peter,

    I sent you a PM...

    I think I know the property that you're looking at...not sure if it was affected by the flooding back in 2009, but I don't think so. Though I do know some houses in that subdivision were.

    On the bright side, anything that wasn't hit in 2009 probably isn't at much risk for flooding anytime soon...that was a pretty freak event and I'd be surprised to see anything that bad again anytime soon (hopefully those aren't famous last words!).

    Anyway, read my PM and let me know if you have any questions...

    I'm out of the country for the next week and a half, but that property is right around the corner from me, so I'm happy to help, if need be...

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  • Peter Seely
    OP
    Select a State · Member since 2011 · 90 posts · 3 votes
    15y

    Hey J,

    You have been a huge help. When I am heading to Atlanta I will buy you a beer or drink of choice, its the least I can do. My wife and I will be there July 23 for 3 nights.

    Thanks again.

    Peter

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