All Forum Posts by: Heath Green

@Andrew Cordle I would also like to attend and will be bringing a +1. Thanks!

Gotcha. Thanks!

I know there was recently a meetup for BP members in Atlanta. Unfortunately, I was unable to attend. Is this a regularly scheduled thing? Is there a date set for the next one?

@Spencer Sutton

Great read!

I'm originally from Bham but live in Atlanta now. Atlanta is a tough place to find deals. I'm looking for neighborhoods that are popular with young professionals near and in the city. Any insight on areas becoming more popular other than Avondale Southside and lake view? Ive read a couple things about Norwood. 

Thanks for the feedback! 

I've been researching properties and trying to determine good asking prices. As part of my research/practice I've been using the method described in The ABCs of Real Estate Investing (great book BTW) to determine prices using the formula Purchase Price=NOI/Cap Rate. This method has given me crazy low asking prices on the properties I've practiced with. My question is, does this formula still hold for small multi family (2-4 units) properties? In the book he uses it to determine asking prices for larger multifamily properties.

I've only used it on properties I've been finding listed on Realtor.com/Craigslist so maybe these numbers are so far off because I'm looking at properties that are already listed well above a good price. I'm trying to be very conservative with my expense estimations. I guessed 10% for Cap ex, 10% for property management, 10% for general maintanence, $650 per unit for insurance, and the county tax assessor website to get actual taxes. Am I guessing too high the expenses leading to an NOI that is too low? Also, is there a good way to estimate cap rates for a neighborhood other than speaking to a realtor?

Good point. I'm assuming interest rates will be rising in the near future. So much to consider!

Thanks for all the input so far. To be honest, you guys are scaring me a little bit. Joel, are you saying the city should be avoided right now? I'm not in any rush to get in so, I can wait to find the right opportunity. Most of the properties I've found are insanely priced, so they are a waste of time. I'm going to keep hunting though and hope I can come across some deals.

Hey everyone. I'm just getting started in real estate investing in Atlanta. I'm looking to purchase small multi-family properties in the city to rent. I don't have any experience, but I have been using BiggerPockets to research and learn as much as possible. These forums are great and I've already soaked in a ton from them! 

Hopefully, I can make my first purchase in the next few months. Right now, I'm looking to make some connections and trying to learn as much as possible from all you experts on the forums.