All Forum Posts by: Heshel Mangel

I did not buy the house yet, and completely forgot the SB is in ATL this year. Guess because my Bengals aren't gonna be in it I wasn't paying attention ;)

Being an OOS investor I'm looking for the least work possible, and long term rentals probably gives me that, but I will definitely keep that in mind. Thanks for the input!

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What goes on in ATL in that time? You'd suggest going the Short Term Rental route?

It is near the airport which would make for great Airbnb location.

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Thanks for the response. Yes, I am an OOS investor. I have been looking at various marketplaces in GA and have a few friends that have invested in Atlanta.

This is a 1400 sq ft house that is a 3/2.5

How much can rents fluctuate based on the tenants? I'm sure there is a "market average" for rents?

You have rentals in the same area?

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Here is a property in the Atlanta area of College Park. I am looking for advice and knowledge of the area from local real estate investors, agents, and property managers. I am wondering if the area is a safe area to invest in, and if 1200$ a month is a sustainable rent for that market. It also seems that property taxes are much lower in this are than the average from what I've seen in other markets, is this true?

Any advice/tips on this area in zip code 30349 would be greatly appreciated!

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Originally posted by @Joel Owens:

I have lived in GA all my life. 43 years so far. GA is one of the fastest growing states in the country right now. Slated to add about 5 million more people over the next decade or so for growth. Weather is nice here and median income tends to be solid with low cost of living . Lot's of cold belt state retirees are flocking to GA,FL,TX as well.

First you need to decide your goals and price point. If your job income or business income profit is very good then you might want to focus on equity growth and rent growth in better areas over time. People get lured into sub 100k properties in GA but they tend to be in crap hole type areas where you would be dealing with very difficult tenants from afar. The property management companies knowing you are states away can be lazy and let things fall through the cracks.

One strategy is to buy a nicer new house stage zero of development in a subdivision with mainly homeowners and rent it out to tenants. Buy the time the last house are sold in a few years they are selling at much higher prices. Typical down for investment house is 20 to 25% for an investor type loan.

I do not do residential but commercial. Residential is a big PITA except for a few properties and commercial is more passive.

5 to 7 years ago you could buy great properties in B+ to A areas for low prices. Those days are gone and those properties have doubled to tripled in value for equity gains. Now sellers here try to sell out of towners on trash areas as (up and coming)..lol You have to almost buy a value add deal in an A to B + area to rehab it to get rent ready to build in any equity now.

One main benefit over CA is that the prices to buy in B+ to A areas here in GA is likely much less than where you are at.

If you might be thinking of low end sub 100k junk in GA then it might be okay if say you are worth millions and the 40k you put down is nothing. If you are worth say 300k and taking a big chance with a good amount of money down then stay away from the low income areas and pricing. 6 to 7 years ago my friends were buying properties for 55k cash in Roswell in A location and putting 10k in to make rent ready for 900 a month rent. Now people are selling higher prices than that for D to F area trash stuff in Atlanta.

Thank you for this post. I am also a beginner OOS investor looking at the Atlanta market. I have heard so much about it from others, and have friends who have invested in the area. I am looking to buy a property 100k or less. I have my eyes on a property in the 30349 area. Is that a neighborhood where a 100k property is still safe? Whats that neighborhood like, and the trends on rents.

I do not have a lot of capital at my disposal to get into a top-notch neighborhood or a higher priced property, but am looking to put the little I have to work and build from there.

Any advice/tips would be helpful!

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Atlanta, Georgia

Originally posted by @Chris Hewitt:

I spent most of my time looking in College Park and Union City. Both are strong rental areas with prices that are reasonable. With that said I ended up buying a duplex in Monroe. From talking with my property manager and agent, as long as you have a good house that isn’t a hole and you aren’t to far out, you shouldn’t have a hard time finding a place that will flow 100-150/mo.

Are you an OOS investor looking at those markets?

I am actually looking at a property in College Park now that looks to be showing good numbers. I am just unsure of the area and the current market rents and trends.

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Atlanta, Georgia

@James Allen Hi! Sorry to piggyback on your post from such a long time ago. Just came across this as I am looking at a property in the 30349 zip of Atlanta (seems to be in the College Park or The Meadows area, according to Google Maps).

I am looking for some feedback on the area from local real estate investors and agents. This would be my first OOS Rental and have been looking at a few different markets in GA. The list price for the property and current rents do give me above 1% which is a basic target of mine, as well as cashflows over 100$ a month, another target of mine.

What are current rents like in that area?

Any advice/tips would be greatly appreciated!

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Thank you @Jason S. for your review. I have had my eyes on Roofstock for some time, and placed some offers but nothing has been accepted yet. It has been difficult staying honest with my numbers and finding a good deal on Roofstock. Seems like you got a great rate on a mortgage @ 4.75%, the lenders they have refereed me to all are at rates north of 6%. That eats right into all the cashflows, especially at cheaper pro

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All Forum Posts by: Heshel Mangel

Heshel Mangel has started 25 posts and replied 198 times.

Post: Advice on buying my first rental (Roofstock.com?)

Post: [Calc Review] Help me analyze this deal

Post: [Calc Review] Help me analyze this deal

Post: [Calc Review] Help me analyze this deal

Post: [Calc Review] Help me analyze this deal

Post: [Calc Review] Help me analyze this deal

Post: Overview of various Atlanta neighborhoods?

Post: What do you think are the best affordable markets around Atlanta?

Post: Investing in Atlanta

Post: Roofstock Case Study (Summer 2018)