Is Atlanta a cashflow market?

14 Replies

Is it possible to cashflow on rentals inside the perimeter, if so, where? Multi-families are extremely expensive unless they're in a questionable area. I've been wanting to start off househacking by buying a duplex but can't find anything under 250k in a decent area. What are your thoughts on building a portfolio of multi-family units in Atlanta? Should we be looking to invest elsewhere?

Looking forward to hearing everyone's thoughts on this.

The Atlanta market has gone straight up for the past 3 years.. even moreso ITP.  I live in Brookhaven and the #s that I have seen don't work for my risk/reward appetite.

Its more for speculative investors who are banking on further appreciation which isn't my style or recommendation.  I'm all cash flow and appreciation is a bonus.

Good areas/opportunities in Atlanta are pretty hard to find right now.  

We love the Atlanta market, but the pricing has inflated to such a level it doesn't make sense for us to buy there. We have been in markets that we can get great properties at a much cheaper price and better cap rate compared to the Atlanta market. We deal in markets such as Kansas City, MO, Birmingham, AL, St. Louis, MO and Columbus, OH. 

The Atlanta market it great! But there are A, B,C, and D neighbors and a couple of war-zones. Stay on the lookout for a deal that fits your buying criteria and network, network, network,

Atlanta is still a good cash flow market but it is in spots.  Remember there are five million plus here with every kind of neighborhood imaginable minus oceanfront.  There are cash flow areas inside and outside the perimeter but working with local help is the best way to find them.  No need to be in warzones either.  Also depends what kind of numbers you are looking for.

Frank

@Frank Iglesias

 There are soo many different neighborhoods with huge variance in pricing, and the A and D areas couldn't be more distinct and further apart. There's people in cheaper areas buying triplexes and fourplexes for $150k that are cashflowing $500-$800 a month, and in Atlanta that type of property is seemingly impossible to find.

@Bob Bowling

Thanks for the links Bob!

@Ericka Parrott I am looking to invest in my first multi-family home. Can you share some pointers? Is it better to purchase already occupied units? If so, how would you go about it? Also, what are the best areas to look into in Georgia?

Things have changed a lot in Atlanta the past few years. In 2012, I bought a 3/2 in a B neighborhood in the suburbs for $31K.  Put in $10K in rehab and rented for $1150/month.  I did several of those.

Here we are four years later and I can't find deals in that area for less than $100K, and rents are about the same.

This is all over Atlanta.  While there are still some one-off deals for off-market properties, it's tough to find good rentals these days.

hey J

I bought your book

Did not receive any of your spreadsheets , checklists , etc

Do they not come with book ?

Old thread revival I see... Atlanta is still awfully tough although stuff bought in 13, 14, 15 that I thought were overpriced seem to look decent now.  

Bob, I dont know where that website gets its info but rents are up way more than 10 bucks I can tell you that.  Low end is up least 50 and high end.... Up significantly.  Examples I own are 2200 in 2013 to 3000 now in a good area.

Originally posted by @Daniel Peavey :

hey J

I bought your book

Did not receive any of your spreadsheets , checklists , etc

Do they not come with book ?

Did you purchase the book here on BP?  If so, all the digital files are part of the .zip file that's sent to you immediately after you complete your purchase.  

Feel free to contact me if there are any issues...

No, I purchase on Amazon

That's probably the problem