All Forum Posts by: Kevin Polite

just came across this were I had posted 3 years ago and was oh so green, still feel that way at times, but one  thing for sure I know is get a good Accountant, and preferably, one that knows Real Estate investing. You wouldn't go to a foot doctor for an eye problem. 

absentee owners are the next big source of homes. Blackstone and the rest of the big guys didnt buy every available home, though in some areas it appears that way. There were plenty small investors with some cash that purchased properties 

1) overspent on repairs 2) decided the rental business is not the way to make some fast money 3) tried unsuccessfully to flip and became landlords.

I call mine beginners luck, but I purchased two homes from someone just like this this year and I sent out approximately 100 postcards.  i'm sure this has mentioned somewhere in the thread, but I see this happening a lot in Atlanta and IMHO elsewhere

@Bram Spiero I took a spin around some of the areas near uptown and Plaza Midwood is a really cool area and had some a good variety of homes that I would love to rehab if I were in that market. It reminds me of Decatur, Ga 10 years ago. Seems like a great oppty especially with the young population that is moving there.

@Bram Spiero what areas of Charlotte are you looking? I was there this past week and didn't realize Charlotte had grown so much. Seems like it would be a good market.

@Brian Watkins I tend to think some of the Atlanta zip codes you mention have more of a perception of crime then actually high crime rates. e.g. Sylvan Hills in 30310 has some really nice homes and slowly changing demographics. Homes around Perkerson Park are seeing a lot of changes. Westview and Adair Park are near the soon to be completed Beltline. In addition, Tyler Perry just purchased land at the old Fort (can't remember name) and that will soon be developed along with green space within that. East Point has some really nice homes and the areas near the train and downtown EP have rising prices.  

Also depends if you buying to hold or to flip. I don't think I'd flip in these areas.

Clayton on the other hand I, personally, would stay away, unless you really know the market, but I'd imagine that sometimes going against the grain is when you make your biggest profits AND biggest failures. But isn't the area around Clayton College pretty good? Homes in Clayton built after 1990 are probably in horrible shape just because they were just throwing up junk. Check out the older brick homes near downtown Jonesboro and Forest Park. I'm sure there are pockets here and there.

Forgot Hapeville should have some good areas especially since Porsche is building their US headquarters there.

@ve'ron hall Might be a tough sale if you're talking about near the AU Center. It would be a great project though, especially with Morris Brown having money and selling there property. I think some of the Universities have purchased the properties and are holding on. I know Clark bought some and tore down some projects, but nothing has been built there.

@Teresa Keith Hi Teresa, I haven't invested in those areas, but know they are near the AU center universities. Some of them of kinda rough. I'd take a visit through before I would invest in those areas. It could be that they are near the new Westside Beltline Trail. I have friends and a family member near there and some areas are ok and some not.  Also, I believe Lee Street is near the old Ft. McPherson that Tyler Perry is trying to buy some land there. Look at Adair Park, Sylvan Hills for better areas. Good luck

@David Cohen  David sounds like our philosophy is the about the same it looks we're both close by both being in Decatur. I think all of the post here are spot on and to get the 2% rule anywhere in Decatur is almost impossible. I don't think even the undesireable area of Decatur will get you there. Sounds like you have a sound plan. However, now it's hard to find most any deals out there in my area. Going to start my first direct marketing campaign this month.

@Alex Bejenaru They've been very aggessive in one of my target areas and have snatched up a few properties that I had targeted. The price the were selling them were actually good values. The have different agents for different areas and the one I was working with didn't have that area and I didn't get the deal. As has been mentioned here before always do the perform your ARV yourself. The ones I saw were fairly accurate, however, I went back and saw the job that the investor that purchased it did and they both repaired them to below that market area, but priced it to high and it's been sitting there for 3 months in an area where the right product is ususally gone in 60.

I never purchased the property and instead did a couple of flips and buy & holds.  I'm looking back at the property again, as I just found there is are some exciting things going on nearby, but need a good attorney that could guide me through DeKalb County zoning process. There aren't a lot of good lots left, and I'm seeing more and more teardowns in DeKalb. @J Scott good luck. I really like the home you did last year in East Atlanta.