Ottawa, ON · Member since 2023 · 110 posts · 32 votes
Hey everyone,
After some in-depth research, we're looking to invest in Atlanta, GA. Specifically, we've got our eyes on some really cool neighborhoods like Buford, Midtown Alpharetta, Johns Creek, Aerotropolis, Peachtree, and Lawrenceville. Have any of you checked out these spots? If so, we'd love to hear what you think. If there's an investor among you who's already explored these parts, would you mind if I ask you a few questions?
Thanks in advance, your time is greatly appreciated and respected.
Real Estate Agent · Atlanta, GA · Member since 2020 · 1k+ posts · 1k+ votes
3y
@George C., generally speaking, every North East Atlanta suburban market will be tough to find and acquire cash flow deals (especially with current rates). Lilburn is along the same lines as what I noted above, your acquisition budget needs to be at least around $300k (maybe high 200s) unless the property is distressed. Lilburn is a great market for a long-term buy and hold, but don't expect significant cash flow for the first few years of holding. Gwinnett County has fantastic school systems so rental demand is strapping. I'll ask the same questions that I inquired about above. What strategy are you looking to implement in the market? Acquisition budget? Rehab budget? Many Atlanta submarkets have a lot of investment opportunities but it all depends on your strategy and budget. Please shoot me a text or email if you have any additional questions or interest in deals (contact info is listed in my bio).
Investor · Worcester, MA · Member since 2020 · 1k+ posts · 1k+ votes
3y
@Sam Chicquen - Nice! I'd recommend you start with reaching out to successful agents in the area and asking their opinion on where people like to invest. For instance, you can filter MLS or Zillow data on the number of sales per agent. I'd recommend targeting the agents that have done most of the sales in the locations you are interested in, they will know the good areas vs bad areas. That can definitely be a good starting point. Almost best to learn from local experts and that is an easy way to target them.
Real Estate Agent · Atlanta, GA · Member since 2020 · 1k+ posts · 1k+ votes
3y
@Sam Chicquen, to be upfront, you're kind of all over the place. Markets like Buford and Lawrenceville are entirely different from markets such as Alpharetta and Johns Creek. Generally speaking, your acquisition budget needs to be at least $320k+ unless you're looking at a fixer-upper. The majority of the respective markets listed above are A-class. Moreover, with this in mind, don't expect significant cash flow (if any at all) depending on your investment strategy. Investing in these markets is more so of a long-term appreciation play in my opinion. Hopefully, you're aware of this. What strategy are you looking to implement in the market? Acquisition budget? Rehab budget?
@Sam Chicquen - Nice! I'd recommend you start with reaching out to successful agents in the area and asking their opinion on where people like to invest. For instance, you can filter MLS or Zillow data on the number of sales per agent. I'd recommend targeting the agents that have done most of the sales in the locations you are interested in, they will know the good areas vs bad areas. That can definitely be a good starting point. Almost best to learn from local experts and that is an easy way to target them.
Hey Andrew,
I just wanted to say thank you for taking the time to contribute to my forum. Your advice is seriously awesome, and I'm exited to dive into it today! Quick question for you: as I start reaching out to these agents and chatting about different markets, what kind of stuff should I be asking? I've got the basics down like schools, jobs, good/bad neighbourhoods, but as a newbie investor, I'm wondering if there are any insider tips you could share.
Investor · Worcester, MA · Member since 2020 · 1k+ posts · 1k+ votes
3y
This could be a very long posts so I'm just gonna give you a few tips. Regarding different markets, I'd like to know what about this market makes it a growth market? Are employers moving in, is the population growing, is the average household income high, does it have good market fundamentals? Once you decide on a specific market, you will want to narrow you search down to specific zip codes and asset classes. E.g. good schools in certain zip codes, type of renter demographic in each area, e.g. blue collar, white collar, section 8. How quickly things rent in certain zip codes vs. others (you can look up days on market for rental units on the local MLS). These are just a few basic things I'd look for.
In reference to the agent, you definitely want to find the investor focused agents that does a lot of deals and lean on them for their expertise. The number one question you should ask is do they invest themselves? You want to choose an agent that invests in the asset class you are seeking and utilize their network and connections which will save you months if not years of work. Just my two cents.
@Sam Chicquen, to be upfront, you're kind of all over the place. Markets like Buford and Lawrenceville are entirely different from markets such as Alpharetta and Johns Creek. Generally speaking, your acquisition budget needs to be at least $320k+ unless you're looking at a fixer-upper. The majority of the respective markets listed above are A-class. Moreover, with this in mind, don't expect significant cash flow (if any at all) depending on your investment strategy. Investing in these markets is more so of a long-term appreciation play in my opinion. Hopefully, you're aware of this. What strategy are you looking to implement in the market? Acquisition budget? Rehab budget?
Real Estate Agent · Atlanta, GA · Member since 2020 · 1k+ posts · 1k+ votes
3y
@George C., generally speaking, every North East Atlanta suburban market will be tough to find and acquire cash flow deals (especially with current rates). Lilburn is along the same lines as what I noted above, your acquisition budget needs to be at least around $300k (maybe high 200s) unless the property is distressed. Lilburn is a great market for a long-term buy and hold, but don't expect significant cash flow for the first few years of holding. Gwinnett County has fantastic school systems so rental demand is strapping. I'll ask the same questions that I inquired about above. What strategy are you looking to implement in the market? Acquisition budget? Rehab budget? Many Atlanta submarkets have a lot of investment opportunities but it all depends on your strategy and budget. Please shoot me a text or email if you have any additional questions or interest in deals (contact info is listed in my bio).
I agree with what everyone has said above. I live in Suwanee, Atlanta, and commute to work in Alpharetta. I'm a rookie investor currently researching the ATL market for potential BRRRR opportunities. My capital has been ready for about a year now, but I'm still trying to figure out exactly where to invest within ATL.
I'm specifically looking for Class B properties with strong cash flow potential for a BRRRR strategy, but honestly, it's been a bit overwhelming to narrow it down.
If any rockstar agents have suggestions or know of properties that fit this criteria, please ping me! Would love to connect.
I agree with what everyone has said above. I live in Suwanee, Atlanta, and commute to work in Alpharetta. I'm a rookie investor currently researching the ATL market for potential BRRRR opportunities. My capital has been ready for about a year now, but I'm still trying to figure out exactly where to invest within ATL.
I'm specifically looking for Class B properties with strong cash flow potential for a BRRRR strategy, but honestly, it's been a bit overwhelming to narrow it down.
If any rockstar agents have suggestions or know of properties that fit this criteria, please ping me! Would love to connect.
Thanks in advance!
Hans - trying to find a perfect BRRRR in B class that cashflows well as an LTR right now is incredibly difficult with interest rates. I don't want to say it's impossible, but I underwrite these every day and you need to be all in at 50% LTV which is probably a 1 in 100,000 deal on the market. You need to be direct to seller if that is where your expectations are.
Rates ticked up to 7.75%-8% for investment property.. Cap rates are at 5-6% on a stabilized SFR with a long term rental strategy.
Only strategy I am seeing pencil right now are with a rent by the room / co-living strategy .
Flips in some areas kind of make sense where you're all in for around 80% and can make a spread.
I'd suggest evaulating different strategies or markets, else you may burn yourself out - this is learned from experience :)
Shoot me a pm if you'd like to chat - I'd be happy to chat and help save you some time.