Real Estate Agent · Atlanta, GA · Member since 2020 · 1k+ posts · 1k+ votes
7mo
@Darvin Choe, I always advise house hackers that before running amok all over town targeting multiple areas, get pre-approved first so you have a clear understanding of your budget. Once you know your numbers, then localize and focus on two or three specific areas.
Let’s hypothetically say you’re pre-approved in the $300k–$400k range. Outside the perimeter, you’re realistically looking at markets like Smyrna, parts of Marietta, Norcross, Lilburn, and Stone Mountain. Inside the perimeter, you’re looking at some parts of Decatur, areas below I-20 (30310 in-town neighborhoods), East Point, and College Park. Within that hypothetical budget, you’re not touching Old Fourth Ward or Little Five Points unless something very distressed pops up. While house hacking is technically an investment strategy, it’s still your primary residence. So location, safety, proximity to work, and property type matter just as much, if not more than, squeezing every last dollar out of the numbers, in my opinion.
While I’m a biased Realtor, I do think there’s some positive sentiment building for buyers. There’s increasing pressure for additional rate cuts as the federal debt load continues to grow, housing affordability is stretched (with average home prices sitting around 5x annual income), and recent job data suggests the labor market wasn’t as strong as initially reported. Moreover, from a boots-on-the-ground standpoint, I’ve also been seeing a good number of pending deals fall back on the market, which will hopefully start putting pressure on sellers. Where do you currently live?
Hey Darvin, I use to live in Atlanta. So question for you, you're from outside of Georgia and looking to invest/house hack in Georgia correct?
If it has to be Georgia n it were me Id take a look at Athens and Savannah. They both have large college populations plus I think in general theres just more opportunities in mid sized cities right now than in the larger metros. Id start there and maybe branch out n try to find a nice little town with a strip that attracts small business and nightlife. I'm curious with what you find, so let me know what you come up with! Good luck!
Whoops might have read that wrong. Lol If you're looking to invest solely in Atlanta.... hope you have big money! Haha 4th ward or little 5 points if you have some money. I think west end and downtown has some potential and its a little more affordable.
Real Estate Agent · Atlanta, GA · Member since 2020 · 1k+ posts · 1k+ votes
7mo
@Darvin Choe, I always advise house hackers that before running amok all over town targeting multiple areas, get pre-approved first so you have a clear understanding of your budget. Once you know your numbers, then localize and focus on two or three specific areas.
Let’s hypothetically say you’re pre-approved in the $300k–$400k range. Outside the perimeter, you’re realistically looking at markets like Smyrna, parts of Marietta, Norcross, Lilburn, and Stone Mountain. Inside the perimeter, you’re looking at some parts of Decatur, areas below I-20 (30310 in-town neighborhoods), East Point, and College Park. Within that hypothetical budget, you’re not touching Old Fourth Ward or Little Five Points unless something very distressed pops up. While house hacking is technically an investment strategy, it’s still your primary residence. So location, safety, proximity to work, and property type matter just as much, if not more than, squeezing every last dollar out of the numbers, in my opinion.
While I’m a biased Realtor, I do think there’s some positive sentiment building for buyers. There’s increasing pressure for additional rate cuts as the federal debt load continues to grow, housing affordability is stretched (with average home prices sitting around 5x annual income), and recent job data suggests the labor market wasn’t as strong as initially reported. Moreover, from a boots-on-the-ground standpoint, I’ve also been seeing a good number of pending deals fall back on the market, which will hopefully start putting pressure on sellers. Where do you currently live?
Rental Property Investor · Denver, CO · Member since 2018 · 14 posts · 19 votes
7mo
@Darvin Choe
I think Smyrna is an amazing place to live and invest. It borders Atlanta’s northwest corner. I recently saw a house converted into duplex that was under $300k. By the time I contacted my realtor to show it to me, it was gone. But, it showed me that you can find something in a safe, growing, well positioned area.
Mableton is another great area but it is a bit more dated and 10 minutes further from Atlanta proper than Smyrna.
Hello! I'm a new grad nurse looking to house hack in Atlanta Georgia. Was hoping if anyone knows the best places to look for a property in this state.
Congrats on graduating and diving into house hacking! Atlanta can be competitive, especially for entry-level properties, so some new investors actually pivot to more affordable Midwest markets. The Midwest market lets you grab duplexes and small multis for well below replacement cost, and they cash flow from day one, so your house hack can be a real income generator instead of just breaking even. It’s worth comparing the numbers before committing locally.