All Forum Posts by: Titus Coleman

@Garrison Bowers I know of exactly 3 zip codes in Atlanta where 18-19% of the loans are delinquent over 90+ days. There are a lot of areas in the suburbs with 9-11% delinquent loans. I think once the FHA eviction memorandum is lifted we'll see an increase inventory. I'd imagine conventional loans are also seeing a good amount of delinquencies as well.

But overall, I doubt we see any substantial price drops until Spring/Summer 2021. Patience will be key here.

@Robert Ortega it wouldn’t hurt to hire a property management company for year 1 just to get the tenant in and get a feel for ownership.

Just make sure you aren’t getting locked into anything long term.

Then the goal would be to handle the property yourself year 2.

@Francine Marquis

Welcome Francine! Focusing on the west and south side of Atlanta (outside of 285) would be a good place to start. Would you be managing the property yourself?

If you looking for an opportunity investing in larger (80+ unit) apartment complexes, I can connect you with someone. However, they are not limited to Atlanta.

@Rebecca Dee

While selling now is most likely the best time, seems like an overall risky move in my opinion. A lot of the (real estate focused) economists I follow point toward a 2021-2022 market downturn. I really don’t think prices will drop significantly in 6 months. Considering the eviction memorandum will most likely continue, don’t think we’ll see enough inventory on the market to drop prices.

I think this strategy makes more sense if you are moving from a big city (LA, SF, NYC) with high costs to a much cheaper city/state. The difference in value would go much further. It could also work if you had the option to sell now then stay with family for a year or two.