All Forum Posts by: Mike H. Jones

I've been seeing that there's been some steam picking up in Perkerson as well. I think it is a bit too early to tell for sure, but in my opinion, everything from the downtown to the airport will start to increase in value as the inventory shrinks, as nearby housing costs increase and as more quality homes start to leave the market. Just watching the market over the past few years/months, everything west of I-85 has already been "touched" so to speak, all the way from Ashview Heights all the way down to about Sylvan Hills, so it kind of looks like Atlanta is seeing the "running out of prime space" problem...at least for the core part of Atlanta (within 25mins of either midtown or downtown).

I don't have much knowledge on Perkerson as some other places, but from what I do know, its nestled pretty well between the soon to be heavily traveled (perhaps even heavily dense) Metropolitan Pkwy and Sylvan Rd, another street that can perhaps see a similar trajectory as Metropolitan Pkwy. It will be around the corner from the new Ft McPherson development which looks prime to attract a lot of development, and also near the Lakewood area and Amphitheater, which is a healthy area imo. It is also less than 10mins away from downtown East Point and College Park which are both developing its downtown's and building more condos to accompany those who do not choose to live directly in the city anymore/those who won't want to pay the uptick in rent that is likely to come soon.

It's also a short bikeride from the Atlanta beltline and what will be the new East Point Path...as I said, not too familiar on the layout of this neighborhood logistically, but from where its located, it looks like it can become an area which can pride itself on literally being 10mins from 3 downtowns in and 5mins from the beltline...but as I said earlier, not sure if the area demands this kind of attraction, or if it is just because investors are starting to run out of space.

However, in saying all of this, I think (what's left of) Sylvan Hills, Historic South Atlanta and Perkerson would be the best value investments outside of NW near Donald Lee Hollowell...I'd try to stay clear of East of I-75 (Atlanta portion) for now 

While I agree with a few of your points, isn't this this one of the core drivers to investing? Speculation? 

A large majority of the appreciation in Atlanta right now is due to speculation imo. Yet, investors are still making profits off of this speculation. Investors are also assessing the least risk and seeking the highest reward. International companies/investors are looking at the cost of land and development costs in Atlanta compared to other cities, like Boston, DC, NY, LA, and it's simply not worth those cities anymore. Cities like Austin, Nashville, Philly, Chicago, etc, have no where near the allure. Atlanta's growth (population growth, corporate growth, facility growth) to price ratio is like nowhere else in the country. There's no risk right now to companies. Hollywood has moved here, celebrities and movie stars have sold their homes in California and moved here, Facebook has moved here, Porsche has moved here, BMV has moved here, Mercedes Benz has moved here, GE, this is a top 5 city for millennials, the Beltline was spoken about, and then was enacted as was the new stadium, underground Atlanta was just bought for millions and will be completely reconstructed by 2020, the new Westside park will be open around the same time. These things are only months away or it's already happening or have happened. And that's without even mentioning the possibility of Amazon.

21 acres of land west to the airport in College Park (hugging East Point) was just contracted for 2.5M. That's a steal for even your everyday doctor or businessman. Compare that to another US city and we're talking 3 times the price for less than a quarter of the space.

Now I don't know who bought it, but it can be used for something like another car lot, or it could be used as a mixed development with retail, restaurants, and subdivisions. There's space to build office buildings, more headquarters, and even recreation. Almost every major city has its immediate sub cities within its limits which serves as an alternative to its core hub, and this is usually driven by the desire to be associated with the City, without being in the "mix" necessarily. I've seen it happen in NY, DC, and now it's coming to Atlanta, but combine that with the uniqueness of Atlanta compared to all other cities. 

All other areas within the same distance in ITP either take too long to get to, have no amenities to attract growth, or are totally priced out.

A few of the beltline trails have already been sectioned off or at least primed...that's pretty low cost in the grand scheme of things. Other things like beautification aren't that huge of feats either. It's the attracting people that is, and Atlanta has proven to be able to do that at the highest level, and that level is among us now.

In saying all of this, these areas I speak of are all within 20 mins of the major development that is hitting the city and are even closer than some parts of the Atlanta are to the development, and prices are still lower than most in some areas. 

Its all about preference of strategy. But I do know that your 220k isn't buying you 5 houses anywhere near 15 minutes of the city anymore, it may get you one...but, youre telling me that 220k may get me 4 homes just 20mins from the city, whether you get on the highway or the scenic route, AND there's promise of new development on the other side of me too? I'm definitely going with the latter.

I haven't heard much about McDonough and don't know much about it but would like to...kinda think its a tad bit too far for appreciation or millennial attraction though. 

The City of East Point probably has the most potential for R.E. investors. It essentially hugs Atlanta and you wouldn't need to drive on or even see an interstate to enter the city. Prices are still reasonable (70k-150k), and the city offers Camp Creek Marketplace and will offer the East Point Path as Grade A selling points. Princeton Lakes is literally within spitting distance of the City and all of the more affluent neighborhoods in Southwest Atlanta (30331 specifically) are along Camp Creek Pkwy. As I said above Camp Creek Pkwy will lead the development for this area, but the downtown and surrounding areas are starting to look more and more like sections of the new look East Atlanta. Downfalls here include the lack of choices for home styles and mundane home architecture, and then lack of street continuity once you hit below Stone Rd. I think we start to see more subdivisions along Camp Creek Pwky and Washington Rd in the future.

College Park (specifically 30337), offers potential to commercial developers and higher end residential developers (300k+). The downtown area is exactly what you would want out of a downtown following the massiveness of Atlanta's downtown, and this area can also be assessed without having to see an interstate. In fact, Northside Drive essentially turns into Main Street, which is the hub for Downtown College Park (after East Point), and is less than a 15min drive, maybe even 10 without traffic. Residential homes in this area are probably a bit harder to come by (all 140k+ with about 75% being in the 250k+ range). This area never truly took a hit, but with the soon to be overpricing/overcrowdedness of Atlanta lots, I expect developers to heavily target this area (along with East Point) for luxury condos catered to millenials, actors/actresses, and movie directors, and those more affluent looking to be out of the way, but still in the mix if you catch my drift, and then some regular residential lofts catered to those who work at the airport, in the City, or those who pop in and out of the city at will.

Your views on Cascade Ave are interesting though. In my opinion, there's never much inventory at all in this area because imo the families in this area weren't hit as hard during the recession since this has always been a more affluent area of the SW side. Above Cascade Ave where Beecher Street and Benjamin E Mays lie never really sees a lot of homes on the market which is likely due to its demographic. Beecher Street is a red hot spot though...anything on that street is likely subject to a bidding war. Everything south of Cascade with the exception of Adam's Park, Venetian Hills and some areas of Greenbriar are strong, but the rest holds a lot of potential. The village-like feel to this area can be a bit unattractive to some, just my opinion. But this is all residentially speaking. I see opportunity for commercial development along the street, specifically from the Golf Course to where the Kroger is, only issue is this whole street is essentially residential so there can be a lot of red tape with that. I can tell you one thing though...if the City ever finds out what to do with Adamsville, watch out...I've seen more inventory in Adamsville in the past 4 months than I've seen in the past two years...lets see if anything translate

I haven't heard much of the Fort McPherson development though, what's going on with that?

I'm referring to the areas in and adjacent to Arthur Langford Parkway up until Hartsfield-Jackson International Airport as well as adjacent areas. While this area has seemed to be neglected for years to cater to the city region of Atlanta, with all of the recent developments underway in Atlanta, development is reaching a lot of key areas still within 15-20 minutes of the city.

This area is comprised of Southwest Atlanta, East Point, College Park ITP, and Hapeville.

Just recently, East Point has announced it's plan to develop it's own Beltline, which will be referred to as the East Point Path. The project planning has been underway and the construction is expected to start within the next year or so. Some phase of the construction has already started (area where Southwest Atlanta and East Point meet). 

The areas near #11 and #10 is where East Point meets Atlanta, specifically Campbellton Road, which has been slated for growth, beautification, and Beltline expansion. The areas near #15 and #16, is where Camp Creek Parkway currently lies, and is near the neighboorhood Princeton Lakes, a sub division in Atlanta (almost sub city at this point) which has just been voted one of the country's hottest areas. The area near #8 is Downtown College Park, which is a healthy area of South Atlanta ITP (lets refer to it as that), and is adjacent to Hapeville, which is expected to be a prime real estate location due to proximity and amenities.

Here is a link to the master plan: http://www.eastpointcity.org/wp-content/uploads/20...

Just recently, there was a groundbreaking announcement that the City of College Park ITP would be breaking ground on a new convention center which will host the Atlanta Hawk's G League Team, concerts, graduations, conferences, and everything in between. This will be called the  Gateway Center at College Park. This arena is already located within the Georgia International Convention Center, which has had favorable opinions since it's opening, and hosts a range of amenities from hotels, to transit, to business space, to airport parking, to restaurants (few at this time however).  This arena is expected to be finished in Fall 2019. The overall GICC isn't finished development plans yet either, just FYI.

The Aerotropolis Atlanta wait is no more. It is finally coming into fruition as we speak. 

Now there a ton of plans with this one, but to summarize, the Board/investors want to make the area more walkable from the Airport to Camp Creek Marketplace.  There are plans for restaurants, shops, recreation, multi use trail paths, beautification, easing of traffic, more residential units, more business centers and the area hopes to attract those who enjoy living in the city, but also want a sense of space and greenery. I really think Camp Creek Parkway will lead a lot of changes and transform this side of metro Atlanta. Think midtown Atlanta meets Southwest Fulton.

Last but certainly not least...the AeroATL Greenway

Once just a thought, the AeroATL Greenway has picked up steam after the forwarding of the Atlanta Beltline, and in now in the midst of a $200k planning phase (not sure if the design phase is underway yet). The Greenway will essentially connect the areas closely bordering the perimeter with each other, as well as with the Atlanta Beltline itself.

The plan is to encourage more interconnectivity within metro Atlanta, specifically including the areas within 5-10 minutes of the airport. Think of it as the Atlanta Beltline's younger bigger brother. 

Now this is just an overview of what I've been researching over the weeks, but more is definitely soon to come. I see this area as having enormous potential. Massive potential. Eventually, I expect residents of Atlanta ITP and surround areas to not have to use a car to get from the bit more northern and eastern parts of the City of Atlanta to the Aerotropolis/Airport area. I see new technology being tried within the areas that have a lot of building potential. 

Also, just to mention, crime has gone down 20%-35% in the past 2-3 years alone within the  target area, and cameras have been installed to encourage and maintain public safety as we begin to experience a more walkable, enjoyable Atlanta metro

In saying all of this, it may be time to start checking out those other areas within the South Atlanta metro that have been neglected/avoided for so long. I expect the real estate markets in the City of East Point, College Park ITP, Hapeville, and Southwest Atlanta (city) to all drastically look different in 4/5 years time. Prices are still reasonable within the College Park, East Point, and Atlanta surrounding areas. I would take a strong look at what happens with this area over the next few years. If everything goes according to plan, I think we have the East Coasts first futuristic city.

What is your budget? And would you rather live in the city (inside of the perimeter) or outside of it? Of course your home would be more likely to appreciate in the city but there are also a few places outside of it (Cobb [especially] and some portions of Gwinnett and Dekalb) where it would also see a nice degree of appreciation. There's a few options worth mentioning depending on your price point!

With limited information however, I would look into: 

Marietta/Smyrna (Cobb): An Atlanta suburb where the property market is strong. The new Atlanta Braves stadium was recently built within the last two years and I've heard/read stories of the citizens of Cobb County actually being more in favor of it than not. I would expect this to help with appreciation. 25-45mins from Atlanta depending on traffic. You'd never really have to worry about the quality of tenants with these cities. Houses are in much better shape than the ones in Fulton County as well

Mableton: If you want a more affordable, slightly less updated version of the aformentioned, look into Mableton. The appreciation has started to branch out there too.

30315/30312: This only applies to the areas bordered by 85 to the left, 20 to the north, McDonough Blvd to the south, and Moreland Ave to the east. 5-10mins from Downtown/Midtown, property values have increased and are continuing to. Appreciation will not be a problem. A lot of movies being filmed in this area too. This is probably the most sought after area in the whole county south of I-20. I would estimate that homes on average are between 1200-1700sqft and most homes are one level (two stories we're talking maybe double the price for this area), so I'm not sure how that would fit into your plans. Finding a quality tenant for this area will be a piece of cake as well.

Capital View: Nice lots, nice feel, and up and coming. Not all the way there yet though but this area could be prime for those looking for a lower price point, a decent chunk of house, and a nice forecast of appreciation.

The areas along Memorial Drive/Glenwood (East Atlanta): A lot of options here. I have no issues with any of these areas. I'm more familiar with the Atlanta portion of it though (30317) rather than the Decatur/Dekalb portion of it. The more East (towards Decatur/Dekalb) you go the higher price in taxes you'll pay compared to the value you'll get. Further east Less attractive to renters as well imho.

30318/Grove Park/Westside Reservoir Park: I LOVE this area...but only for 2020+ and moving forward. Still a bit sketchy now, but you can see the gentrification in real time in these areas. May make for a perfect flip. Also a lot of multi family units in this area directly next to the new park which are on the market for 150k> now...have no doubts these prices will reach 350k once even a third of the changes come to the area. The new park is underway as well. I got a chance to ride through an open gate which was an entrance to the new park and they've already started sectioning off walkways and laying down pavement and are in the beautification process now. Depending on your price point, look into the new construction on Johnson Road. These could potentially be the next set of "those" houses. Really a personal decision on this one, but you can read throughout the thread and get my opinions on this area.

Hapeville: Dark horse here...check it out. Right next to the airport, the tenant pool will be a surplus, the market has been strong over the years, nice lots, Fulton County taxes, Porsche's headquarters, prices aren't exorbitant, quieter than most areas, lots of eateries, close to every major highway, but still doesn't see a lot of traffic, and still inside of the perimeter. I've heard many depict Hapeville as hidden treasure in the past.

This is all based on an assumed 300k budget. The average price of all of these areas is around 190k-230k.

Are you looking more for affordability and appreciation? Or stability/strong market performance over the decades/great school districts? This could make a lot of difference. Nonetheless...finding a tenant in Atlanta won't be a problem at all.

I'm here to help! 

So I've pretty much have already covered the Westside of Atlanta, and quite frankly...investors have too. From what I've seen, heard, and have experienced in the first two months of 2018, I can for sure say that the areas bordered by Northside Dr, West Lake Ave, Joseph E Lowery, and I-20 is probably the hottest in the entire country, and no this isn't an exaggeration...Prices are up, inventory is down, and new homes are either staying on the market for only 10-15 days and being bought up cash, or they're staying on market for 30+ days and milking each offer they can get. For example, I called a few listing agents for homes I've seen on the market longer than I would expect, and all by 1 was cash only...and not the 60ks and 70ks we saw in 2015, but now they're listed at 110-120k. I've seen comps in that area that are 40k-50k more than they were worth from 2016-2017. A bidding war for homes in the 30314, 30310, and parts of the 30318 is imminent at this point. Honestly no way around it.

Pittsburgh has essentially demanded its attention and respect at this point. I had no idea it would turnaround this quickly. The same 4 bedroom 2 bathroom that would have sold for 65k in February 2017 is selling for 125k in February 2018. This area is probably going to be the hottest and most visited in the city for the next 6 to 7 months, and then I'm all but certain that this area is going to price out. As I've said before, this area is the biggest wildcard in the entire city, and it looks like this area has started to awaken. I would get in on the 3 BD 1.5 BA deals in this area if I had some money to spare and were looking a place to take a chance with...most of the 2 BD are less than 1,000 sq ft, but are also the homes that are still sub 80k

Historic South Atlanta, Lakewood, Lakewood Heights, Amal Heights and Sylvan Hills are all next up, but these homes will likely require much work. I would say they're all 2 years away from being 2 years away, but as we've seen with the heat of the market this past year, it may be even quicker starting with Historic South Atlanta which is closer to the city...a lot of people have been scared of this area because of it being aesthetically unattractive and because of lack of amenities, but because of it's proximity to the city, it's going to be hard for this area not to appreciate, especially because of its proximity to East Atlanta which has already appreciated, and to all of the downtown neighborhoods which will (and are) appreciating soon. Prices aren't too bad in these areas, its probably the most fairly priced area in the city right now. And if you happen to find a great property in this area, it may even appreciate more than the homes on the Westside. But beware, the closer you go to Cleveland Ave the longer it'll take for your property to appreciate, especially if its somewhere tucked in. I would say stay above/near Langford Pkwy and Lakewood Ave

Regarding 30318 and the Westside Reservoir Park, get in on the areas bordered by Bolton Road, Perry Blvd, Marietta Blvd, and Donald Lee Hollowell. Homes in this area are continously being listed and it seems like this is the calm before the storm. After seeing how the areas immediately West of downtown has changed so rapidly, this area is certainly next. Yes, there is less promise of amenities, well structured and developed communities (architecturally), and overall design for the area, but there's no way this area won't see appreciation/rise in rents/growth. Its less than maybe 8 or so miles from Buckhead, will be 5 or so minutes from Atlanta's biggest park and possibly most used park,  another 5-10 minutes from midtown/downtown and will be close to the developments on Marietta Blvd, Moores Mill Rd, Maddox Park, and the Beltline. Prices are still fair in this area too and this areas features the most multi family units I've seen in Atlanta so far. This would be the area I'm banking on the most overall, even moreso than the area immediately west of downtown (although it will take this area longer to reach its max potential)

If I had to give a hot take of the City/Metro Atlanta...I would say keep a moderately concerned eye on the area in the perimeter but above/adjacent to the airport. This area looks primed for growth. Camp Creek Pwky is going to see a lot of development in the next few years. They've just recently announced the new development of the Gateway Center at College Park, which will be a mixed used development where they will host concerts, conferences, events, and will be the home of the Atlanta Hawk's development league team. There is also rumblings on a $1 billion project along Camp Creek Pwky which will essentially make the area walkable. I saw home values in an area close increase by 30k literally a few days after the annoucement...can't say for certain that there's a direct correlation but it makes sense if it was. If you head east a bit, you have Hapeville which is already doing great in my opinion who just had Porsche come down and build their headquarters there. Camp Creek Pkwy is my pick to turn into the next Cascade Ave (sorry Campbellton Rd) and with Atlanta becoming the new Hollywood with all of these film production companies moving down, all of these headquarters moving here, and with the potential of Amazon moving down, I can foresee a lot of demand coming to this area because of it's proximity to the airport. If they can find a way to make Camp Creek Pwky walkable from the aiport to the Camp Creek Marketplace (what I believe the plan is and is about a 4 mile radius) then I say watch out...Only thing is that the area along Camp Creek inside of the perimeter belongs to East Point and College Park, while the area outside of the perimeter belongs to Atlanta. Still areas worth considering if you ask me.

Now just remember, these are in my opinion the best places to invest because of value given the current climate and market temperature of the city. Of course there are area's in East Atlanta, up near Riverside, and Peoplestown that are just as good investments if not better, but in my opinion the ships sailed on those areas over the past 3-4 years (in terms of finding bargains).

From what I've seen, 30318 has a lot of fixer up multi families (Carey Park, Almond Park, Center Hill, Grove Park). I'm talking those big 3000 sq ft 6 BD 4 BA multi families. Look up 1969 Jones Ave for a depiction of what I'm getting at. There are a lot of these type of homes in that area. Others can probably help more, but in my opinion to find a good section of multi families in Atlanta you would have to do the groundwork and drive around since this isn't a city that has a lot of them. And then you may not even be able to tell its a multi family at that.

In fact, I would target that area ^^ because you could literally walk to the new West Side Park in 2 minutes from there. Those duplexes in the mentioned areas were selling for 350k once upon a time before any sustainable development hit the city too just for accurate measure.

Yes. This is true. I am not an investor and have never invested. I am simply a home buyer who has aspirations to invest soon [which is why I'm on this site :)]. My posts are to help those who may know little to nothing about the make up of Atlanta or and to provide them with what I believe the hot spots are. But as far as investing tactics and knowing what exactly to look for in a home you want to invest in, I'll leave that up to you guys :)

I hadn't realized I propped your post but didn't reply. My apologies.

In my opinion, anything below MLK Blvd and above I-20 is gold and will be for maybe up to a year after the Super Bowl, after that, prices will surge to pre-recession prices. Only thing is that this time the values wouldn't be fluff like it was back in 05-08. There's about 3 or 4 neighborhoods that comprise this area (Mozley Park, Ashview Heights/AUC, Westview, etc.).

Oakland City (Bush Mountain too) for sure, this area still has a lot of potential. It reminds me of a teenager begging and seeking out his/her independence/credit, but isn't quite ready to drive on his/her or cook for themselves just yet, but you know by looking at them and speaking to them that they will be ready and prime when the time comes. You can see new bike trails on the street, new trees being grown and new construction being had, but on a parallel street, see something that would remind you of why people ran from the area years ago. But this area is definitely going to be cleaned up so that's all that really matters

And last but not least Grove Park. They are already trying to deem this area the new "West Midtown" and the first part of the park will open up next year. As I said in my post before, this will be the next "it" area in Atlanta imho. Big lots and decently sized homes. Donald Lee Holloway is expected to see major renovations from the perimeter all the way to near Northside Dr I believe. Maddox Park is going to be renovated as well. They just built a Top Golf a few years ago around the corner too. I've even seen sellers take their homes in the area off of the market because (imo) they know they're going to get 100k-200k more for them if they just wait a year or two

Pittsburgh homes are now being sold for what I believe are way more than what they're worth...but...they are being bought. It's tricky because it's an area that looks a bit unappealing to the homebuyer/occupier now, but with a clean up, could be the perfect quaint community less than a 10 minute bikeride from the Capital building, so its really a buy and wait game. But like I said, the investors who own homes in the area aren't waiting and are pricing the homes on par with all of the other homes on the Westside that may be in better areas. I will say this though, a realtor I was speaking with a few months told me that across the street (Metropolitan Highway) in Adair Park, it used to look similar to how Pittsburgh does now, and now you can't find a home in that area under 225k. And not to mention, the Beltline will wrap around that Pittsburgh area and a streetcar will run close to it on Ralph David Abernathy Blvd/Georgia Ave. So yes there can be a lot of bashing of Pittsburgh now, but it would be unfair of me not to mention that in a few years, it could very well be that next "it" spot because all it needs is a clean up. The location is prime.

Hope that helped :)