Hello BP community, I wanted to know if the Georgia market is different when it comes to cash buyers? Can I go by the 70% method or is it different? I could really use feedback

Thank you for your time.

@Drequez Richo

It depends on where in GA you’re looking. Anything in the metro area sells pretty quickly, with multiple offers. To get a deal you’ll need to look off- market.

Best,

Canesha

@Canesha Edwards

thank you, I will most definitely take your advice and start looking off market for deals.

Atlanta is a solid market for flips and rentals, I can't say finding deals is a piece of cake but based off of what clients mention- I would recommend that you network closely with a couple wholesalers. I have many clients and they get most of their deals by developing relationships with 1-3 close quality wholesaler relations vs going out to get on every wholesale list in GA without meeting them, having a relationship or them sending you random deals vs understanding what you are actually looking for and can actually execute. as far as the 70% method goes, I would not focus on the 70% hard fast but more focus on which areas your doing deals in, some areas have more cash heavy investors and thus have a higher all-in ARV%. Each area exhibits different Supply, Demand and Investor behavior and that is what really gauges the ARV%.

@ Kalim Kalla thank you for yor help, Really do need all the information i can get.

Originally posted by @Kalim Kalla :

Atlanta is a solid market for flips and rentals, I can't say finding deals is a piece of cake but based off of what clients mention- I would recommend that you network closely with a couple wholesalers. I have many clients and they get most of their deals by developing relationships with 1-3 close quality wholesaler relations vs going out to get on every wholesale list in GA without meeting them, having a relationship or them sending you random deals vs understanding what you are actually looking for and can actually execute. as far as the 70% method goes, I would not focus on the 70% hard fast but more focus on which areas your doing deals in, some areas have more cash heavy investors and thus have a higher all-in ARV%. Each area exhibits different Supply, Demand and Investor behavior and that is what really gauges the ARV%.

I am looking for QUALITY wholesalers who will work with me and understand my needs.  So far, I have not had any luck.  :(  Still looking...

@Drequez Richo

I've been wholesaling and buying rentals in the Atlanta market for about 4 years now. In my experience, supply has become so tight that it's difficult to find a deal at 70% of the ARV. From what I've seen, the acquisition cost may be 70% of the ARV, which leaves absolutely no money to do a rehab (and the house may very well need a cosmetic or full rehab). This seems like a true cash buyer environment right now, because if you use hard money, and buy an 80% deal (which is much easier to find), you won't make any money because of the financing costs. I don't want to be discouraging because there are people that are doing well in the business right now. But it is definitely different from a few years ago. Supply is super tight right now.

@Dennis Shinn Thank you for giving me a little insight about the Atlanta market area. I think where I’m located the AVR’s percentage are in a different bracket than the Atlanta area, but this information you gave me will help me switch up the percentages i use if I wholesale in that market.